Latent Defect Insurance (LDI)
Also refered to as a Structural Warranty Insurance covers repairs to properties as a result of faulty design, faulty workmanship, defects or material problems in new build and renovated properties discovered after the completion of the construction process.
Residential Latent Defects Insurance
A 10 year structural warranty indemnifies the owner of a residential property from the damage caused by latent defects that occur following the practical completion of the build.
Commercial Latent Defects Insurance
Commercial Latent Defect Insurance provides an added and essential element of protection to the owner of a commercial property. This is essentially the same as LDI for residential properties however the policy term and coverage can generally be more bespoke to suit the requirements of the client and lender.
We can provide cover for all warranties including:
- Commercial property
- Residential houses including conversations/ refurbishments
- Self-build warranties
- Retrospective warranties for completed houses
- Building Control
- Also, more niche warranties for insolvencies and social housing.
What Does A Structural Warranty Policy Cover?
The policy covers faulty design, workmanship or material problems or defects for up to a period of 12 years after practical completion, they are designed to cover the costs incurred to rebuild or rectify the property whether partially or in full. Unlike other policies such as Architect’s Certificates, Collateral Warranties and Professional Indemnity Insurance, a Latent Defect Insurance policy does not require proof of fault, just proof of a defect.
Cover Includes:
- Cover of the structural integrity of basements and car parks
- Cover against contaminated land
- Alternative accommodation,
- Additional costs
- Professional fees
- Removal of debris
- Ingress of Water
How Can We Help?
Here at SB&G we have access to numerous leading insurers and exclusive schemes, so we are able to offer the most comprehensive quote to fit your requirements.
We can provide cover for all warranties including:
- Commercial property
- Residential houses including conversations/ refurbishments
- Self-build warranties
- Retrospective warranties for completed houses
- Building Control
- Also, more niche warranties for insolvencies and social housing.