Starting a new development or building project can be challenging enough without the need to search and obtain the appropriate insurance and warranties required to ensure a safe and protected project. With Buildsafe, we take all of the hard work out of getting the right coverage you need. As the largest specialist broker in the insurance market, we can scour the market for you, looking for the right structural warranty insurance to suit your situation. Here are the telltale signs that you need some help to get the structural warranty insurance for your requirements and how Buildsafe can help.
You don’t want to tie up your capital: When your project is deemed ‘high-risk’ insurers could ask for a bond/escrow. There are various circumstances that might be considered a high risk, such as a bad credit score, or particular parts of your build, such as basements, unsteady land or unconventional building methods/materials.
At Buildsafe, we will look to find a provider that suits your needs and will not require a bond/escrow. This will ease your cash flow upon completion and ensure no money is held for 2 years and 9 months as most insurers request.
The quotes you’ve found are too expensive: As with any form of investment or development project, there are many factors that can influence the cost of a Warranty. It could potentially just be down to your choice in materials, (using timber frames instantaneously increases the price), equally methods of construction such as piling foundations likewise causes an upsurge in price. Read our blog on factors that influence the price of a warranty for more information.
As with any form of investment or development project, there are many factors that influence the cost of a Warranty. . It could potentially just be down to your choice in materials (using timber frames instantaneously increases the price), equally methods of construction such as piling foundations likewise causes an upsurge in price. Read our blog on factors that influence the price of a warranty for more information.
Because the cost relies heavily on the materials and techniques used on a build, it is important to state that the insurer will release the same terms to us, as they would to you directly. However, we will secure multiple quotes from a variety of insurers- we are well positioned to leverage and finalise more favourable terms than the starting price. We have helped our clients save as much as 30%!!
Your property is deemed ‘high-risk’: Ultimately, insurance companies are running the risk of potentially paying out hundreds of thousands to reconstruct a defective building. Our wealth of experience and relationships in market enable us to find providers that will be understanding of your project complexities, and sharper on cost. Our areas of speciality are large-scale residential, new build, commercial development, conversion and refurbishment projects.
How can BuildSafe help?
Buildsafe has a wealth of experience in the UK property sector having worked with and on behalf of major developers and global institutions including Royalton Group, Investec & Harcourt. Our areas of speciality include; medium to large-scale residential and commercial developments, Super & prime residential, New Builds, Conversions, Refurbishments, part-complete and completed projects.