INSURING YOUR DEVELOPMENT AGAINST NEW BUILD FAILURES
CRL IS ONE OF THE MOST AFFORDABLY PRICED AND RESPECTED NEW BUILD INSURANCE SPECIALISTS.
What is New Build Insurance?
New build insurance is an insurance policy designed to protect against latent defects in newly built or converted/refurbished, residential developments. It protects against the cost of complete or partial rebuilding or rectifying work to the property as a result of defective design, workmanship or materials that occur during the build period but are not discovered until after completion.
Most UK mortgage lenders insist on new build structural defects insurance from a recognised provider before lending on any property under 10 years old. CRL are backed by 95% of lenders.
New build insurance is also sometimes referred to as Structural Defects Insurance, Structural Warranty, Building Defects Insurance, Latent Defects Insurance, Building warranty and Construction Insurance.
What does New Build Site Insurance cover?
Our new build property insurance will provide cover for: new builds as well as for partially or properties that have been completed. It also covers conversions including loft conversions, additional building projects such as extensions and removed parts of the home, environmentally friendly building projects also including timber framed structures, prefabricated buildings built for occupation and even developments intended for social housing and multipurpose developments.
Your New Build Insurance will cover defects and materials including:
Load-bearing foundation systems and footings
Load-bearing floors and staircases
Load-bearing walls and partitions
Roof framing systems (Joists and trusses)
Load-bearing beams and girders
Chimneys and flues
Floor decking and screeds
Contaminated land for brownfields sites
Repairing, replacing and rectifying water ingress
New Build InsuranceGet a quote
Why choose CRL?
Sometimes clients need a policy backdated. We do this occasionally to make the New Build Site Insurance policy fall within the ten year life span of the new build status.
- BUILT WITHOUT NEW BUILD INSURANCE
When you find yourself selling a property that you weren’t originally required to have a New Build Insurance policy for or selling a property that was built without New Build Property Insurance because the obligation was voluntary by the developer, you can rest assured that this is an insurance area that we cover.
- FIXED-CHARGE RECEIVERS & INSOLVENCY
We provide insurance for fixed-charge receivers that need to dispose of a distressed sale or insolvent assets quickly.
- ADMINISTRATION OF DEVELOPERS
We help when a situation arises with a developer that goes into receivership or administration and may leave a property uninsured because there is no completion certificate. This situation would make it notoriously difficult to borrow against.
BIG THINKING INSPECTORS WITH AN EYE FOR THE SMALL DETAILS
Site inspections will take place throughout your project by our qualified site surveyors, to monitor the progress of your project and to ensure it is compliant with Building Regulations. It’s our inspector’s job to help you realise your construction goals, however ambitious they might be.
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.