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 from site insurance to structural warranties.
BENEFITS OF THE PROTEK NEW HOME WARRANTY
Choosing Protek to provide a new home structural warranty on your next property development means you will be delivering each of your homebuyers with a new home, inspected by our technical auditing team and backed by a comprehensive warranty.
The registration process is completely free and it is 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 can refund the deposit paid by your customer or complete the home. This offers 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 helps protect 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 is designed to 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 0333 456 5040
CONSTRUCTION PROJECT ALL RISKS INSURANCE OVERVIEW
Construction project All Risks insurance cover is available on an fixed term All Risks basis for the duration of the project. The time span of the development project can range from a few months right up to two years. Should the project be delayed, then additional periods of cover can be purchased as required. This flexibility negates the requirement for annually renewable contractors all risks cover. It is suitable for contracts of up to £5M.
- All Risks cover for damage to permanent and temporary works and materials, whilst on site and in transit to and from site
- Off Site storage
- Professional fees
- Public and Employers Liability cover
- Cover for liability at law incurred by the under Section 3 of the Defective Premises Act 1972
- Cover for waived rights of recourse against sub-contractors directly engaged by the policyholder in accordance with JCT Contract Conditions
- Optional – Cover for the employers owned and hired in plant and machinery for use in connection with the contract works including recovery costs and hire charges liability
To obtain a quotation call 0333 456 8030