At what point in a development should you take out a building warranty?


When it comes to a construction or building development project, there are often hundreds of different considerations and decisions to make along the way. The more complex the project, the more things to keep track of and oversee. One essential element of every build or redevelopment is ensuring that there is an appropriate building warranty in place.

The building warranty is an essential if the project includes a property or properties that will be sold in the future, as mortgage lenders will not allow borrowing without this being in place for properties built, converted or structurally renovated in the last 10 years.

The ideal point to take out a building warranty is actually before the work begins on the project. This means that the construction progress can be assessed at key points of the build, which minimises the chances of any structural issues slipping under the radar. The lower risk of this route is usually reflected by the lower cost of the building warranty policy if taken out right at the start of the project.

Can a building warranty be taken out part-way through the project?

While it’s best, when possible, to take out a building warranty at the very beginning of a project, the cover can be taken out later in the process. It’s fairly common practice when a construction project is taken on by a new developer part-way through the build, although this can mean a higher premium for the policy than if taken out earlier. This is because early inspections of the work may not have been carried out and the project is then at a stage where some things are hidden from view, so the ‘risk’ is higher.

If you want to know more about building warranties or would like a no-obligation quote for your project, get in touch today.

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Advantage Home Construction Insurance (AHCI) provides structural defects insurance – operating nationally with offices in Warrington, London and Birmingham – offering development-related insurances and a service designed to give customers peace of mind.

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