PEACE OF MIND FOR 10 YEARS
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 independently-insured warranty in place, just in case something does go wrong.
10 YEAR BUILDING WARRANTY
Our 10 Year Building Warranty is insured by certain underwriters at Lloyd’s of London, via their coverholder Stamford Insurance. It gives homeowners comprehensive and independent protection, both during and after construction of their home.
Main Benefits – Before & During Construction
- Loss of deposit cover, up to 10% of the contract price (maximum of $100,000)
- Extra costs to complete, up to 10% of the contract price
Main Benefits – Defects Period
- Covers all defects for the first 2 years and major structural defects for a further 8 years, including weathertightness claims
- Defects include: defective design or specification, failure of products and materials, defective workmanship
- Provides a first response policy directly to the owner
- Transferrable to a new owner on sale at any time within 10 years – added value when seeking a buyer
- Underwritten by Certain Underwriters at Lloyds of London – Standard & Poor’s rating A+
- Technical Advisory Service from Qualified Chartered Surveyors
- Claims professionally managed by independent loss adjusters
- Inflation protected – cover is linked to the Building Cost Index