Builders Commercial Structural Defects Insurance>>>

Latent Defects Insurance

Also called structural defects, to protect owner builders, homeowners residential and commercial builders, developers and Body Corporates in the event that an unforeseen structural defect occurs after practical completion of the building.

It is the nature of construction projects that faults and defects caused by failures in design, workmanship or materials, may not become apparent or detectable (even with the exercise of reasonable care) until many years after completion of the project, long after the end of the defects liability period. Latent Defects can be extremely expensive and disruptive to rectify.
Latent Defects Insurance indemnifies the insured for the cost up to the total sum insured of the repairs to the damage caused by the defect and is available for 10 years from the date of practical completion.

What’s included in the Policy:

  • Covers the Builder, you are jointly insured with the owner – No liability
  • Negligence and fault do not have to be proved ensuring problems are rectified promptly
  • Avoidance of litigation and legal costs reducing time delays, hassles and loss of income
  • Increases the value of the property to those properties without Latent Defects Insurance plus financiers will be more amenable to finance a property with Latent Defects Insurance
  • No personal guarantees or deeds
  • Removes provision for rectification work from balance sheet
  • Ideal, if you are planning to retire – 10-year cover
  • Simple Application form

Why Choose BuildSafe?

  • As a specialised and comprehensive Building Industry Brokage that has been involved in the Building industry for over 25 years. Our experienced team is able to help you through building insurance related issues, plus make available to you industry leading policies and products to protect you and your business. We look forward to working with you.

We’ll help and get our hands dirty.

Latest News

Keep up to date with the latest news in the industry!

Filter Categories
Filter - All
Commercial Builders
Builders Insurance
Building Guidelines
Current Industry News
Health and Safety
Home Renovation
Home Slider
Owner Builders
Sort By Date