Financial Services; Maintenance & Refurbishment
site(s) and the implications this may have on your projects: • Do they employ their own surveyors? • Do they have clear technical standards? • What technical support can they provide to assist during the project?
CUSTOMER SERVICE Just as risk management and technical support is important to the build process, the warranty provider’s customer service will affect your day-to-day experience, including the issuing of your certificates at the end of the project. Ask the provider: • Will you have a dedicated point of contact or account manager? • How quickly can you expect a response to your query? • How do you receive your certificates after completion? • How will you track and measure site performance (online or paper exercise)? • Will you be provided with any homeowner feedback as part of the service?
VALUE Yes, margins can be tight, but rather than putting cost or price first, it is worth considering what you are getting for your money. Before you make a decision based solely on price, make sure you are happy with the answers provided to the above questions. Remember too the peace of mind a good structural warranty offers and reputational protection.
WORKING WITH MODERN METHODS OF CONSTRUCTION With developers and builders using different methods of construction, not just bricks and mortar, it is worth knowing how your warranty provider works with this type of project. Have a look at their customers’ work and see what kind of projects they are covering. Better still, do they work with an accreditation scheme that allows build products and systems to be pre-approved for warranty cover, with any conditions clearly shown.
Dean Stritch is national sales manager at LABC Warranty
Insurance & Finance Feature
WHAT IS A STRUCTURAL WARRANTY AND HOW DOES IT WORK?
A structural warranty covers latent defects – in other words, issues with the building’s construction that cannot reasonably be foreseen. It is an insurance policy that ensures any major damage caused by structural defects in the design, workmanship or components of a building, are put right in the first 10 years from build completion. Generally, a structural warranty is split into two periods of time: • Defects Insurance Period – typically the first one or two years of a policy, this period is the time in which the builder is responsible for rectifying any defects deemed to be a failure to comply with the warranty provider’s standards.
• Structural Insurance Period – generally eight years following the Defects Insurance Period during which time the warranty provider is responsible for dealing directly with claims. Providing the claim is valid, the provider should then organise any necessary repair work, or pay for such repairs.
34 | HMM October/November 2019 |
www.housingmmonline.co.uk
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