[AD] Does Your New Home Or Commercial Property Have A Structural Warranty?

When you’re purchasing a new build property, whether it be commercial or residential, there is one thing that you should always make sure of. That it that it’s covered by a latent defect insurance policy, also known as a structural warranty of the building.

I would possibly think that most of you are thinking what is a latent defect insurance policy? Well, let me me explain.

When a new building is finished the new owner can’t just rely on the developers and builders of the property to ensure that it is all perfect and that nothing will go wrong with the building. After all nobody can see in the future. That’s why you need to have the right cover in place for your own peace of mind.

I have teamed up with Build Zone who have a latent defects insurance policy which has been specifically designed for new builds and mixed use developments. This could be anything from student accommodation to office blocks and care homes to industrial and retail units.

What is Latent Defects Insurance?

A latent defects insurance policy is taken out on a property or development which is specific to new builds. It covers the owner of the property for any defect due to design, workmanship or materials that don’t become apparent until the development has been completed.

Features of latent defects insurance

There is cover for loss of rent, or if you require alternative accommodation.

There is a reduced cost and risk when compared to collateral warranties.

You can have flexible financial limits which will be agreed upon subject to referral.

A latent defects insurance policy makes the property easier to sell and is fully transferable to the new owners.

You can have insurance cover on completed or part completed properties.

The policy will cover the building for 10 or 12 years and from year 2 it will cover for defective weatherproofing.

A latent defects insurance policy is underwritten by a rated global insurer and Build Zone survey services limited will carry out a full technical review with their aim of reducing any defects from the design stage of the development.

New build 10 year structural warranty

Build Zone offer a new build warranty for all builders and developers and they provide many features for a new home warranty such as:

No membership or registration fees.

A very fast quotation is supplied.

They can also consider doing part or completed developments

A flexible payment method is available.

10 year structural warranty

Cover available for mixed use developments.

A full risk transfer in years 3-10 of the cover.

Cover is also standard for alternative accommodation, any additional costs, removal of rubbish and professional fees are covered.

When you invest in a new build home or you are investing in new commercial property as an investment, it’s very important that everything is covered. The last thing you want is something going wrong years later and you could be left picking up the bill. So it’s very important to make sure your new home or development has a latent defects insurance policy to cover you for any possible problems that may arise from the building of the development.

Do you have a new build home and is it covered by a structural warranty? Or maybe you have new commercial properties, are they covered by latent defects insurance? I would really like to hear your experiences and thoughts in the comments below.

This is a paid collaboration with Build Zone.