FINANCE & INSURANCE 63 THE RIGHT COVER
Dean Stritch of LABC Warranty describes what to look for when choosing a warranty provider for your development, including for MMC projects
W
ith a range of options on the market, how do housebuilders and developers choose the cover that is right for their development? A structural warranty covers latent defects – issues with a building’s construc- tion that cannot be reasonably foreseen – and the period of cover is usually 10 to 12 years. he fi rst thing to note is that not all structural warranty providers offer the same level of cover; some differences may be subtle, others more dramatic. It is therefore important to ensure you are fully protected and supported throughout the build process, while mitigating risk. A risk management surveyor from a reputable structural warranty provider will look beyond foundations, tolerances and wall ties. As part of a broader commitment to best practice, they will take into consideration the safety and tidiness of a construction site, its
general organisation, engagement levels and communication. All the quality measures a housebuilder or developer would look for, and should expect. Modern Methods of Construction (MMC) is also an ever increasing subject of interest in the industry, but how does MMC affect warranty, if at all? As this area of construction continues to grow in popularity, it is important to know that your warranty provider can support you with any innovative systems you may look to adopt. eeping on top of inspection fi ndings, actions and updates on a plot-by-plot basis can be an administrative nightmare. A good warranty provider will make this as easy as possible, perhaps through a digital customer portal, to keep track of progress.
Homeowners in newly built properties need to know where they stand, just as
AS MMC CONTINUES TO GROW IN POPULARITY, IT IS IMPORTANT TO KNOW THAT YOUR WARRANTY PROVIDER CAN SUPPORT YOU WITH ANY INNOVATIVE SYSTEMS YOU MAY LOOK TO ADOPT
much as those in older homes. A warranty provider will make it clear to all parties what their rights and responsibilities are under the insurance policy. Advice
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