There have been many market changes in the last 12-24 months with some of the leading providers withdrawing from the market and various insurers increasing rates or reducing coverage. These changes present the ideal opportunity to consider using Everywhen to negotiate your next warranty and leverage our key market relationships to provide the best coverage at the right price. Everywhen specialists are on hand to assist with the complexities in arranging the right cover for your client.
Latent Defects
Our Footprint & Appetite: Our risk appetite includes commercial and residential buildings, new builds and renovations, conversions, extensions and refurbishments, Grade 1, listed buildings and hotels, permitted developments, private rental sector and social housing, student accommodation and retrospective.
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Latent defect insurance is a cover taken out for new build commercial and residential premises.
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It is designed to cover defects which manifest within the structure after practical completion.
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Please note that we can’t help with single flats, conversions or developments utilising existing structures where a structural report has not been commissioned and developers/contractors without suitable experience.
The standard cover
Also known as New Home Warranties, Latent Defects Insurance is required by the Council of Mortgage Lenders for all new build residential open market sales. There are often faults and defects caused by failures in design, workmanship or materials throughout the construction process and may not be detected for many years after the completion date.
These defects can be extremely expensive to rectify and the Latent Defects Insurance offers protection to homeowners.
A standard policy will cover the structure and weather proofing, but this can be extended to include non-structural elements such as component failure, mechanical and electrical services and business interruption.
Additional products
We also have considerable experience across the construction sector and can assist in the following areas which may also be of consideration in connection with your development:
Contract Works cover
Employer’s and Public Liability cover
Professional Indemnity cover
Property cover (both existing structures or the completed project)
Insurance Backed Guarantees
Property Valuations
Bonds (Performance/Advanced Payment/Road and Sewer etc)
Our cover and service USPs
Considerable experience across the construction sector
We can assist in the following areas which may also be of consideration in connection with your development:
Contract Works cover
Employer’s and public liability cover
Professional indemnity cover
Property cover
Both existing structures or the completed project.
Legal indemnities
e.g. Right to Light.
Insurance backed guarantees
Property valuations
Regulatory compliance
Adherence to strict regulatory standards ensures all assessments meet compliance requirements.
Bonds
Performance/advanced payment/road and sewer etc.