TAKE CARE OF YOUR DEVELOPMENT AND INVEST AGAINST LATENT DEFECTS
ONE OF THE UK’S MOST AFFORDABLE AND RESPECTED LATENT DEFECTS INSURANCE SPECIALISTS.
Our priority is to cover your development against latent defects and any other building defects for up to 10 years, focusing on design, components, material, and workmanship.
What is Latent Defects Insurance?
Latent Defects Insurance is a mandatory requirement from UK mortgage lenders before they release funds for a property purchase if the house is new or under 10 years old. Latent Defects Insurance is also sometimes referred to as Structural Defects Insurance, Structural Warranty, Self Build Insurance, Building warranty and Construction Insurance.
As standard, we cover developments for 10 years against building defects and any structural defects in design, workmanship, material or components.
Latent Defects Insurance - What We Cover
When you work with CRL, your development is covered in terms of latent defects insurance. Whether you are looking to protect yourself against new, partially, or even fully complete homes all the way to multi-use developments, we are ready to make a difference in your future. Our latent defects policies can cover self-builds, conversions, renovations or extensions, prefabs, eco-builds, timber frames, insolvency situations, and completed properties with defects.
Latent defects insurance protects you from the following defects and materials:
Load-bearing foundation systems and footings
Roof framing systems (Joists and trusses)
Load-bearing beams and girders
Load-bearing floors and staircases
Load-bearing walls and partitions
Floor decking and screeds
Chimneys and flues
Contaminated land for brownfield sites
Repairing, replacing and rectifying water ingress
Latent Defects InsuranceGet a Quote
Why do you need latent defects insurance?
Improve Selling Process
If you are looking to sell your property, drum up eager buyers with our credible latent defects policy. You will sell your home faster, and the interested parties benefit from knowing they are making a sound investment.
Lower Repair Costs
When a latent defect occurs, it can cost up to £40,000 to fix. By investing in a warranty for the developers, every possible eventuality will be covered.
Assist With Mortgage Approvals
For homeowners hoping to get a mortgage, latent defects insurance is required if the building is less than ten years old.
Why choose CRL?
CRL offer retrospective cover. Our Latent Defects Insurance is available for developments that may already be partially or fully completed, covering 10 years from the construction completion date. the day it was completed, ensuring that you and your home are in good hands.
Some of the reasons to provide a project with retrospective cover are:
- PROPERTIES CONSTRUCTED WITHOUT LATENT DEFECTS INSURANCE
We can help you cover a property that has been built without Latent Defects Insurance (current regulations do not require a developer to insure), or sell on a property where you didn’t initially own Latent Defects Insurance.
- FIXED-CHARGE RECEIVERS & INSOLVENCY
When things go wrong, get your fixed-charge quick.
- ADMINISTRATION OF DEVELOPERS
On occasion, a developer enters administration and their property is left behind without a Completion Certificate.
BIG THINKING INSPECTORS WITH AN EYE FOR THE SMALL DETAILS
It’s our inspector’s job to help you realise your construction goals, however ambitious they might be. Their experience and expertise means our pragmatic site inspections detail every aspect and flag where appropriate.
Our network of inspectors as based throughout the UK, meaning that there is always an expert on hand to offer advice and guide you through the key stages of the development process.
To ensure due diligence, best practise and to continually improve the quality of our on-site inspections, we carry out the following stages for each project:
- INITIAL INSPECTION
Foundation and substructure stage inspection.
- INTERIM INSPECTION
Superstructure, roof and plasterboard stage inspection.
- FINAL INSPECTION
The final inspection to receive the Final Build Certificate.
Our inspectors will be in touch to arrange the dates for each of these inspections almost immediately – ensuring minimal delays. Get in touch to discuss your latent defects insurance needs in more detail.