STRUCTURAL WARRANTY INSURANCE
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Protek can arrange cover for a vast array of projects and builds, including new speculative developments, redevelopments including change of use and cover for completed projects. They can help with arranging cover for both Commercial and Residential projects.
Structural Warranty Insurance is a policy that protects against defects in new buildings for a period of usually 10 years after completion. Any new build project in the UK will need a Structural Warranty or Professional Consultant Certification to secure finance against the project
What does it cover ?
The key advantages of Structural Warranty Insurance is for the end purchaser as there is no need to establish who’s at fault and for complex litigation. The policies transfer automatically between owners. Policy cover includes the cost of complete or partial rebuilding or rectifying work to the property which has been affected by major damage by an insured defect.
Policies are designed to cover the cost of making good any defect in the design, materials or workmanship in the newly constructed or altered drainage system. This includes the necessary and reasonable costs of repairing, replacing or rectifying any part of the waterproof envelope of the property as a result of ingress of water caused by a defect in the design, workmanship, materials or components of the waterproofing elements of the property.
Building Control Services: Combing the surveys for Building Control and for the Structural Warranties can save money. Some providers are able to provide quotations to amalgamate the Building Control with the required inspections for the Warranties
Professionals Fees: Such as architects, surveyors, legal, consulting engineers and other fees necessarily and reasonably incurred in relation to the complete or partial rebuilding or rectifying work to your home are generally covered
Alternative Accommodation: Policies can include cover for Alternative Accommodation costs and expenses in respect of removal and storage if your home is uninhabitable as a result of the insured defect
Contamination Cover: This can include the cost of remediation expenses incurred in compliance with a Statutory Notice in respect of contamination of the Policyholder’s land (if an Approved Inspector carried out Building Control)
Defect Cover: Includes Load Bearing Foundations, Roof Coverings, Load Bearing Walls, Partitions, Floors and Staircases, Roof Framing Systems, Load bearing Lintels and Chimneys & Flues.
Non Compliance with Building Regulations: Cover can include the cost of repairs where there is a danger to the physical health and safety of occupants because the property does not comply with Building Regulations
Debris Removal Cover: Included within the cover provided for the structure.
FAQ's
I have Architects Certificate why do I need a Warranty?
Many lenders require a 10 Year Structural Warranty policy on new build and renovated projects. Without a Warranty you may be limiting your potential market of buyers. A fairly recent court case highlighted some of the problems associated with reliance on Architects Certificates. They are an extension of the Architects professional indemnity cover and as such you will need to be able to prove they were professionally negligent. Additionally, if the Architect is no longer in practise or fails to renew their cover it can often lead to no protection. For more information: https://www.thenbs.com/knowledge/court-of-appeal-provides-clarity-on-architects-certificates
Can I get cover for New Builds, Conversions, Refurbishments and Extensions?
Yes, cover on most types of development from single units to mainstream apartment developments, conversions, change of use, extensions and renovations are available.
Does The Building Control Completion Certificate Provide Any Cover?
No, it is simply a certificate issued by the building control inspecting party to confirm that the property meets the requirements of the Building Regulations with regard to Health and Safety.