Latest Newsletter From the Construction Team
Housing Developers - Cover for Unsold Units
With the gradual downturn in the hosuing market, there is the increasing likelihood that completed units are remaining unsold on site for longer periods. The standard period of cover under a Contract Works policy in respect of completed units awaiting sale is three months. Most limits were set during the period of more buoyant house sales, so it would be prudent to review your limit and perhaps extend it. Insurers are generally able to do this without an additional charge. Under most policies, the period of cover commences from completion of the last unit on site.
Call your local branch, or the Large Business Team on: Tel: 020 8249 4542
Fax: 0870 400 9400
