What is Structural Defect Insurance?
It’s a policy that allows property owners to reduce their risk to exposure by providing a long-term warranty against a residential or commercial building’s defect in design, workmanship or materials.
How long does the Structural Defect Insurance period last?
It’s normally 10-years from completion of the property.
How is it assessed?
Through a combination of meticulously compiled structural engineers reports and careful financial assessment.
Are policies issued by Advantage Council of Mortgage Lenders compliant?
What’s the process of obtaining Structural Defect Insurance?
What if my house is already partially built?
Are your Inspectors independent?
Is Structural Defects Insurance compulsory?
It’s not a legal requirement BUT all mortgage lenders require it to be in place before they will land money against a property. Even if you have no intention of selling your home, the skilled insight of our inspectors helps quickly identify any problem areas. In addition indemnity protects you from exposure to a costly risks.
What does Structural Defect Insurance cover?
From design to workmanship, materials, structure, waterproofing, drainage and even subsidence through to cost of remedial work, dismantling, moving and storing, as well as professional fees – we cover it all.
Is Structural Defect Insurance transferrable?
Yes. It’s fully transferable. Any subsequent owner can benefit from cover as well