PEACE OF MIND FOR 10 YEARS

Builtin Announces New Guarantee Underwriter

With the withdrawal by Lloyd's of London from the market for builders guarantees Builtin has secured a new underwriter. Click here to read our press release.

Building a new home or making a significant alteration is probably the biggest investment you’ll ever make, and if anything goes wrong it could be the most costly too.  The Building Act and Consumer Guarantees Act both include protection for consumers when undertaking building work. However, if the building company you’ve chosen goes bust, or something happens to your builder, this legislative protection is of no value whatsoever. That’s why it makes sense to have an independent, third party guarantee in place, just in case something does go wrong.

10 YEAR BUILDERS GUARANTEE – BENEFITS

BEFORE & DURING CONSTRUCTION

Refund lost deposit

Guarantee completion and pay additional costs to complete

Up to 15% of the contract price, to a maximum of $250,000

DEFECTS PERIOD

Covers defects for the 10 years, including weathertightness

Defects include the failure of products and materials and faulty workmanship

Up to $1,000,000

 

ADDITIONAL BENEFITS

Transferrable to a new owner – added value when seeking a buyer

Claims managed by an independent third party

SECURITY

Underwritten by the Southern Pacific Insurance Company (SOPAC), NAIC registration number 15659

More about SOPAC

Builders, Apply For Accreditation Today

Homeowners, Check if Your Builder is Accredited

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