Housing Associations Insurance
There’s a common misconception amongst many housing associations. A misconception that not only costs them fortunes in additional premiums, it also means that projects often take much longer to complete than necessary. More money wasted which is where housing associations structural defects insurance comes into property development.
The source of this confusion is in the Briefing note on the HCA’s requirements in relation to the consumer code for home builders and defects warranties/insurance products. It’s in the in The Consumer Code for Home Builders too:
“has the benefit of an NHBC guarantee or similar warranty by a reputable insurance company as agreed by the Agency.”
It’s wording that often leads Housing Associations to think that they have to take Structural Defects Insurance from either NHBC or Premier. Not so.
What the requirement says in reality is that housing associations structural defects insurance warranties need to be taken from a provider with cover equivalent compliant warranties. A provider like Advantage for example. And knowing that you could get a better, cheaper product elsewhere – a full 12 year policy… why wouldn’t you? Our policies are underwritten by leading insurance provide. They include Insolvency Cover, are better value than many similar agreements and our inspection process is the fastest, the most flexible and the most thorough on the market.
So now you know. The big question is… does your contractor? Less money wasted on excessive premiums or kit and workers standing idle until an inspector to become available, the more money you have to spend developing housing. Put simply – with our housing associations structural defects insurance we can help you spread your budgets much, much further.
Contact us now on 0845 900 3969.