The Importance Of Latent Defect Insurance

Posted by BuildSafe1 on 5th November 2020 -

Latent Defects Insurance is a form of insurance that is taken out on new build commercial and residential premises and covers the cost of any damages or defects after the building work has been completed. It covers damages caused by but not limited to faults in the design, workmanship, materials, supervision, construction and installation.

These defects can be extremely expensive to rectify and the Latent Defects Insurance offers protection to homeowners.

The Key benefits of Latent Defect Insurance

·        The primary advantage of is for the end user IE there is no need to establish who’s at fault or worry about expensive litigation costs in the event of a latent defect.

·        In addition, it also enhances the saleability of the property- a vast majority of mortgage lenders and banks require a structural warranty or latent defect insurance to be in place before a mortgage can be provided.

At BuildSafe, we can provide cover for the following types of projects:

·        Commercial & Residential buildings

·        Refurbishments, Extensions, Renovations, Barn Conversions

·        New Builds

·        Grade 1, 2 Listed Buildings

·        Social Housing

·        Self-Build

·        Retrospective & Completed

 Latent Defects Insurance Providers

At BuildSafe, we see our role as an independent advisor, who reviews the merits of each policy to help you make well informed comparisons. We also save you time in procuring quotes, analysing and comparing quotes.