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Self-Build Insurance: Why The Risks drop Going Solo

Self-Build Insurance, also known as a Structural Warranty, is worth its weight in gold for first time home builders and for experienced developers alike.

In this article we look at how this kind of insurance can help self-builders feel more comfortable with their investment in a new home as well as looking at some of the other types of insurance you may need.

Types of insurance

Most people setting out on a self-build project for the first time think that the builders they hire will have the right insurance in place to cover their project. But this isn't true in most cases and it is important you check this in detail with your contractors before work starts.

If you're running a building project for the first time you may realise that insurance is a good idea, and there are a few kinds of insurance that may apply to you or the people you employ for during and after the build.

Structural Warranty

A 10 year structural warranty (Latent Defects Insurance) provides cover on the structural aspects of the completed building and any defects that arise within the first ten years after building work is completed.

It covers faults with the design, faults with the construction methods used or faulty materials that have led to structural issues. When structural repairs are needed it generally means large costs are involved, but without the repairs the home may be unsafe to inhabit.

This is why a structural warranty is so important and mortgage lenders require all new homes have one in place before they will lend on them.

Road Bonds

A Road Bond is a type of insurance that makes sure all roads and foot ways of a new development are completed and will provide good access to the new homes.

Public liability insurance

This type of cover is to insure liability arising from death or personal injury to third parties, usually this means the public, or those other than the insured’s own employees. Public liability insurance also covers against damage to property belonging to third parties.

Site Insurance

While most new build projects go smoothly without the need for a claim, it makes sense to protect your investment with a site insurance policy which covers any existing structure as well as all the new work against such losses as fire, theft, flood, storm damage, vandalism and accidental damage whilst the building work takes place.

Product liability insurance

Some suppliers and manufacturers of equipment to a build project may need to have a product liability insurance, usually in place of professional indemnity insurance. This covers injury or damage caused by products such as lifts or escalators.

For more information on a self build warranty for your new build, get in touch with us today.

Structural Defects Insurance


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