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If your company owns, develops, designs, builds, leases or advises on commercial or residential property then you should be aware of the existence, requirement for and benefits of a Structural warranty.
Structural Warranties are also sometimes referred to as Latent Defects Insurance, Self-Build Insurance, Building Warranties and Construction Insurance.
There are different kinds of Structural Warranties and policies including:
- Commercial Warranties
- Residential Warranties which include New home Warranties, Self-build Warranties, Social Housing Warranties
10-year Structural Warranty – What’s covered?
A Building Warranty covers the costs of repairing or reinstating a property due to faults in the design, workmanship, materials, supervision, construction, installation or site preparation of a new building that remain undiscovered at the date of practical completion, but come to light afterwards by virtue of physical/major damage
10-year Structural Warranty – When is it required?
- New and newly converted homes for: sale, shared ownership, private rent, social rent, built under contract
- Self-build properties
- Any change of use
- Refurbishments involving structural work
- Part-complete / repossessed developments
- Completed projects
- Contaminated sites
- Large mixed-use commercial and mixed tenure structures
10 Year Structural Warranty Insurance
It is always more cost effective to take out insurance at the start of the project. Your warranty could very well become more expensive the longer you wait. Rather than incurring higher surveyor fees, it is more cost efficient to get each stage of the project signed off as it happens.
Buildsafe are a client led team of experts who take the stress out of searching for building warranty products by offering an independent, clear view on the market. Our Consultants specialise in finding bespoke solutions for your project needs and work to provide the best independent advice possible. We regularly work with developers on project values ranging from £200,000 to £100,000,000 and our team have a wealth of experience in all types of development projects.
Call us today on 020 3701 0422 to find out more or select the appropriate warranty for your build below.