If you are property developer building property to sell (or let) on the residential market, Protek have a range of property developer insurance products available for you ranging from site insurance to structural warranties.
Choosing Protek to provide a new home structural warranty on your next property development means you will be delivering each of your home buyers with a class leading new home, inspected by our technical auditing team and backed by a comprehensive warranty with an ‘A’ rated insurer.
BENEFITS OF THE PROTEK NEW HOME WARRANTY
Developer Insurance – FREE REGISTRATION
The registration process is completely free and it’s simple to apply.
THE BUILDING PERIOD – LOSS OF DEPOSIT PROTECTION
As the developer, if you do not commence work on the home as a consequence of incapacity due to ill health or death or the due to your ceasing to trade or fraud, the underwriter will refund the deposit paid by your customer or complete the home. This provides increased peace of mind for your homebuyer.
10 YEARS COVER
- The home is covered for 10 years from the date of completion, with the developer taking responsibility for defects occurring in the first 2 years of cover. The new home warranty policy protects the homeowner in the event the developer ceases to trade post completion.
- Full risk transfer occurs in years 3 to 10
CONTAMINATED LAND COVER
The new home warranty policy will indemnify the homeowner in respect of remediation expenses incurred in treating or isolating or removing any substance from the policyholder’s land in a controlled manner in accordance with the requirements of any statutory notice.
NON-COMPLIANCE WITH BUILDING REGULATIONS
- Fire Safety
- Site preparation and resistance to moisture
- Drainage and waste disposal
- Heat-producing appliances
- Protection from falling, collision and impact
- Glazing – safety in relation to impact opening and cleaning
- additional costs and expenses cover
- alternative accommodation
- removal of debris
- professional fees
For more information please visit our sister operation Protek warranty or call 0845 217 7059