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Congratulations!

Are you the proud owner of a new property? Congratulations!

We hope that you are enjoying living in your new property and you are settling in well.

Buying a new build property brings with it its own advantages - you'll know that the fixtures and fittings will all be brand new and are unlikely to need to be replaced anytime soon. You won't have to deal with any immediate fixes or decoration disasters. Plus, certain developers and contractors also offer the ability for you to have a say in the finer details of your intended home without you having to lift a finger. Bonus!

Unfortunately, we can't always be assured that there won't be any “hidden” problems that become apparent later down the line and affect your property and potentially your way of living or making use of it. If your property was built less than 10 years ago, you should have what is called a structural warranty in place as first line protection against any major damage to the structure of your property that occurs.

 

WHAT IS A STRUCTURAL WARRANTY?

A structural warranty (or otherwise known as a Latent Defects Insurance) is an insurance policy that protects you against structural faults, or “defects” which may occur in your new property. This includes faults in your walls, floor, roof, foundations, etc.

With its roots stemming from decennial liability, latent defects insurance or decennial insurance is now mandatory or funding requirement in a number of countries across the world. These include France, Spain, Italy, the United Kingdom, Ireland, the Netherlands, the Nordic countries, South Africa, South Korea, Japan and there is currently a debate to numerous other countries to introduce it. Its purpose is to provide cover for the cost of repairing a property should an inherent defect in the structure cause damage or threatens imminent damage.

If you wish to learn more about the structural warranties available please go to Structural Warranties

 

HOW DOES THIS WARRANTY BENEFIT ME?

Structural faults can be extremely expensive to fix, and may not be covered by your standard house insurance policy, so having adequate protection in place is hugely important. Traditionally, there can be problems when trying to recover the full cost of repairs for latent defects as claims to rectify damage of this nature are not covered under permanent building insurance schemes. Alternatively, proof that a professional consultant or contractor is legally liable to pay for repairs may be required; something that it is not an easy task. Change of ownership and lack of contractual relationships complicate the issue and often designers, consultants and contractors do not have adequate insurance at the time of loss to cover the repairs.

Having a Premier Guarantee warranty means you'll be looked after by one of Europe's leading structural warranty providers who have helped many property owners overcome major issues with their properties.

We have a dedicated claims team who will provide all the advice you need to get things sorted as quickly as possible as well as a free dispute resolution service.