Latent Defects Insurance | Granite Building Warranties

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Latent Defects Insurance

It is essential that you take out a latent defects insurance policy on any new building project if you intend to sell or mortgage. Latent defects insurance covers you for any previously undetected structural defects or damages in a completed building. In addition, UK Finance requires latent defects cover for all new residential property sales and purchases.


What is latent defects cover?

When completing a new construction project, although you adhere to modern building standards and use the best materials, mistakes and defects can still occur. Even if the utmost care was taken during the construction process, these issues can sometimes remain undetected for years after completion. Once a latent defect is discovered, the property owner can make a claim for repairs or rebuilding where needed. Rather than being forced to pay these costs out of hand, a latent defects warranty will cover the amount needed to fix any problems. The policy is designed to cover you for up to 10 years from the issue of the building control completion certificate.


What does a latent defects policy cover?

In order for a fault to be covered by a latent defects policy, it must be determined to be a latent defect and not a patent fault. Latent defects are undetectable during the building phase by conventional observation and inspection processes, while patent faults can be uncovered during thorough inspections. Latent defects can occur in different areas of a completed building project, including in the structural frame, cladding, roofing and foundations. Latent defects policies are designed to cover faults detected in a wide range of properties, such as new residential and commercial structures, refurbished or converted structures, student housing, hotels, heritage listed structures, and more.


What do latent defects policies normally include?

  • Cover for latent defects detected within 10 years from the issue of the building control completion certificate
  • One time premium payment that covers the entire cost of the survey and insurance
  • Choose from Structural Warranties with a two year defect term or source insurance with alternative conditions, such as elimination or reduction to a one year defect term
  • £1,000.00 excess per claim per dwelling for residential units
  • Should a structural breakdown occur, insurance will pay for a full or partial reconstruction, including professional fees and demolition
  • Our coverage is fully assignable to any future purchaser for the length of the policy
  • UK Finance (formerly CML) approved. Recognised and acknowledged by mortgage lenders and the majority of main street banks
  • FCA Regulated
  • Peace of mind and the ability to mortgage

If you have more question, then take a look at our helpful article on Latent Defects or enquire now by filling in the form below and we will be in touch with you shortly.

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Granite Building Warranties Ltd is an Appointed Representative of Richdale Brokers & Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority.
Granite Building Warranties is a company registered in England and Wales (Company Number 11497543) with its registered office at 1st Floor, 5 Century Court, Tolpits Lane, Watford, WD18 9PX