10 Year Structural Defect Insurance is a specialist insurance product providing cover for various new and completed property builds that are less than 10 years old. This essential form of cover is required by mortgage lenders before they release funds to property purchasers.
Structural Defect Insurance protects the purchaser for a period of 10 years* against structural defects in the build. Possible defects that may arise include subsidence, shrinkage, water ingress or structural instability.
Structural Defect Insurance is also known as Structural Latent Defect Insurance and covers projects including New Build, Self Build, Conversions and Social Housing Projects. It covers the structural envelope of the property (the foundations, walls, roofing, floors etc.) and non-load-bearing elements. The policyholder is responsible for the fixtures and fittings.
At ROYLEMAC10 we;
- Provide 10 Year* Structural Defect Insurance
- Provide competitive premiums based on build cost, not sale price
- Meet Industrial Standards and Mortgage Lenders expectations
- Transfer to New HomeOwners within the 10 Year term
- Provide the highest level of insurance at the best possible price
- Cover completed and partially completed properties
- Offer each client their own dedicated Sales Manager and Surveyor
- Guarantee no call centres and commit to direct information dedicated to you
- Have over 50 years’ experience within the Construction and Insurance Industries
*cover starts after end of year 2 as the developer/builder covers snagging and defects within first 24 months