Builders Warranty – 10 Year Structural Warranty
A builders warranty is a 10 year structural warranty that has been designed for use on a either a residential or commercial property. It is suitable for a new build, conversion, renovation or extension project which is being built as a one off, or where provision of a new home building warranty product is not possible or is restricted by policy financial limit. Its particularly useful where a receiver is involved or where the project has a high reinstatement value or is being built as an investment only. The basic structural warranty does not carry a defects period and is suitable for use on more than one unit.
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The cover provided takes into consideration the risks faced and protects the Policyholder in the event the property suffers physical damage or the risk of physical damage as a result of a defect in the design, workmanship, or components of the home. Unlike an architects certificate, the policy responds directly as there is no professional negligence to prove, making it a much more secure option. The product will note the interest of any lender. Automatic successor in title is a standard feature of the cover allowing the benefit of the policy to be transferred to the new owner for a period of 10 years.
10 year structural warranty insurance for builders
- The home is covered for 10 years from the date of completion.
- No defects period.
- The new builders warranty policy protects the home owner in the event of major structural damage, defective waterproofing and drainage.
- Full risk transfer occurs in years 1 to 10
- additional costs and expenses cover
- alternative accommodation
- removal of debris
- professional fees