Structural defects insurance protects against latent defects in newly built or converted/refurbished, residential developments. It protects against the cost of complete or partial rebuilding or rectifying work to the property as a result of defective design, workmanship or materials that occur during the build period but are not discovered until after completion.
Once a structural warranty is taken out, it is valid for 10-12 years from the start date indicated on the Certificate of Insurance and is transferable, which means that if the property is sold before the cover expires, the structural warranty can be passed on to the new owner.
Structural Defects Insurance is also known as Structural Warranty, Latent Defects Insurance, Building Warranty, Home Warranty, Construction Insurance and Self Build Insurance.
What does Structural Defects Insurance cover?
This insurance offering covers new builds, partially or fully completed homes, completed properties with defects, self-builds, basements, conversions, extensions and renovations, eco-builds and timber frames, prefabs, social housing developments, insolvency situations, and multi-use developments.
Structural insurance covers a wide range of defects and materials including:
Load-bearing foundation systems and footings - Load-bearing lintels
Roof framing systems (Joists and trusses) - Load-bearing walls and partitions
Load-bearing beams and girders - Load-bearing floors and staircases
Floor decking and screeds - Chimneys and flues
Roof covering - Waterproof envelope
Repairing, replacing and rectifying water ingress - Contaminated land for brownfield sites
Why do you need Structural Defects Insurance?
Most UK mortgage lenders insist on structural defects insurance from a recognised provider before lending on any property under 10 years old.
Makes Selling Easier
A credible structural defects insurance policy is a valuable sales tool when selling a property, providing peace of mind to buyers and speeding up the sales process.
Repairing structural defects can be extremely costly, so it’s sensible to have comprehensive developer’s warranty in place. UK mortgage lenders insist on structural defects insurance on any property under 10 years old.
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