Copeland Insurance


Real estate developer insurance helps protect you throughout the process.

Ensure protection from start to finish with real estate developer insurance.

Essential Coverage for Real Estate Developers

Professional Liability Insurance

Real estate development involves numerous parties and complex processes, making professional liability insurance crucial. This coverage protects against damages caused by wrongful acts, such as errors, omissions, or negligence, during any development stage. One mistake can lead to lawsuits, so having this coverage is vital for mitigating risks.

Builders Risk Insurance

During the building phase, your structures are susceptible to damage from fire, wind, theft, or vandalism. Builders risk insurance covers these risks for structures, materials, and equipment. Be aware that this policy often excludes events like earthquakes, floods, and employee theft, so you may need additional coverage to address these specific concerns.

Vacant Building Policy

After construction is complete and your buildings are ready for sale, builders risk insurance no longer applies. However, the structures remain vulnerable to the same risks. A vacant building policy provides similar protection against damage and theft. For enhanced security, ensure your buildings have active security systems. If you plan to stage units with furnishings, include them in your vacant building policy for comprehensive coverage.

As a real estate developer, your business faces liability at every stage of the process. Whether you’re purchasing land, constructing buildings, or selling units, there’s always the potential for something to go wrong. Given these unique risk factors, it’s essential to have comprehensive coverage to ensure your developments stay on track.

Exploring Owner-Controlled Insurance Programs (OCIPs)

Owner-controlled insurance programs, or wrap-up insurance, provide enhanced protection for real estate development business owners. In an OCIP, the owner purchases insurance for all parties involved in the development, including contractors and subcontractors. This comprehensive approach includes general liability, workers’ compensation, and professional liability insurance, along with any other necessary policies. OCIPs offer significant benefits, such as broader coverage and potential cost savings from discounts on bulk policy purchases.

The Business Side of Real Estate Development

Regardless of the number of development projects you undertake, certain basic coverages are essential. Workers’ compensation insurance is crucial. While subcontractors typically carry their own policies, it’s wise to have your own coverage to protect against any lapses in theirs. Additionally, property manager insurance is vital, especially if you plan to lease or rent out the developed property. This coverage helps protect you from risks that arise after the development is completed.

Tailored Insurance Solutions for Real Estate Developers

As a real estate developer, you encounter unique and challenging risks at every stage of your projects. Real estate developer insurance provides the necessary protection to keep your business secure. Contact us to learn how our coverage options can help safeguard your developments and ensure your success.

Real estate developer insurance safeguards you through every stage of the development process.

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