Covid-19 has delayed and affected many builds this year, leaving many looking for some stability in these uncertain times. When choosing the your structural warranty provider for your projects there are some key things you need to know before purchasing your warranty provider.
In recent years many structural warranty providers and insurers have removed themselves from the market. Many insurers were unrated, which meant customers with invalid warranties and as a result, in a breach of their mortgage terms. Homeowners were left needing to purchase their own retrospective warranty, which proved not only stressful but also hit many developers reputation for buying a warranty from an unrated provider.
Making sure you have A-rated backing give you and your customers the peace of mind that they have the best cover. Build-Zone only used A-rated insurers for all Structural Warranty policies, whether you’re doing a small residential development to a large commercial construction project we have capacity and cover for you.
What does the future hold for structural warranty providers?
As the government pushes housebuilding as our way out of COVID, there are calls for ‘building stronger, building better’ but what does this mean for Warranty providers. Essentially this means there will be fewer of them, as tighter restriction and monitoring of build quality will be needed, fewer providers will be able to offer the technical services the industry desperately needs.
Build-Zone secures backing from SECOND A-rated insurer
Build-Zone is pleased to confirm it has secured capacity from a second ‘A’ rated insurer, following the recent announcement of their deal with XL Catlin, part of the AXA XL Group. The long term, exclusive partnership with global speciality insurer, Fidelis Underwriting Limited (“Fidelis” or “FUL”) further enhances Build-Zone’s ability to insure Residential, Commercial, Mixed-Use, Build-to-Rent, and Social & Affordable Housing developments in the UK, up to £250m per single structure.