Q3 2024

SME News Q3 2024/ 46 Construction warranty cover is a vital aspect of risk management for everyone involved in a construction project, offering peace of mind to homeowners and developers alike. Build Warranty Group, known for its robust coverage and exceptional service, has earned the top spot in the UK structural warranties market and has been awarded Best Financial Risk Assessment Solutions Company 2024. Structural warranties for UK homes are indispensable products for anyone involved in property construction. Finding the right warranty provider can be challenging but Build Warranty has proven to be an invaluable partner throughout the residential and commercial construction process—and long after it’s completed. The company combines competitive pricing with unparalleled customer service, assigning a knowledgeable account manager to every client for personalised, one-to-one support. Build Warranty makes securing structural warranties a straightforward and seamless experience. Their team delivers quotes promptly, fully understanding the timesensitive and budget-conscious nature of building and construction insurance. Clients also benefit from free technical support. From the very first point of contact, clients are supported, prioritised, and kept thoroughly informed. “At Build Warranty Group, we take pride in our ability to combine top-tier service with unbeatable value.” As an industry pioneer committed to customer convenience, Build Warranty offers its products through LDI Tech®, a single proprietary risk management platform that provides seamless, real-time connectivity between customers, surveyors, and provider, all the way through to the insurer. This innovative solution integrates a suite of apps and portals, streamlining the audit process for maximum risk management control. LDI Tech® is the first fully integrated system of its kind, offering an unprecedented level of efficiency and service in the structural warranty industry. Among its flagship products, Latent Defects Insurance (LDI) provides property owners and developers with comprehensive protection against inherent or latent building defects. Cover spans 10 or 12 years from the issuance of the final certificate of practical completion, making it suitable for anyone with an interest in the property. This includes owners, developers, funders, or incoming tenants obligated to repair under their lease terms. LDI cover safeguards against structural issues that aren’t immediately evident and those arising from the construction process, design flaws, or material defects. Eligible properties range from commercial and residential projects to renovations, extensions, and selfbuilds. The scope of properties that Latent Defect Insurance can cover is vast, and it’s best secured before construction begins for the most competitive premiums. Even largescale projects like high-rise developments and commercial complexes can be covered through Build Warranty’s high-value scheme. “At Build Warranty, our commitment to securing your projects goes beyond mere protection. We understand the critical role of Latent Defects Insurance in safeguarding your investments and ensuring long-term structural integrity. Through our robust technical audit process, expert guidance, and comprehensive coverage, we aim to be your trusted partner in building a secure future. With Build Warranty, the tedious process traditionally associated with warranty providers is a thing of the past. This is why so many developers and builders are switching to Build Warranty.” In line with its commitment to client service, Build Warranty caters to a range of budgets, offering an affordable alternative to Latent Defect Insurance in its Professional Consultants Certificate (PCC). Also known as an Architect Certificate, this compliance document ensures that a building meets approved standards, providing 6 to 10 years of cover endorsed by the Council of Mortgage Lenders, now known as UK Finance. With a PCC in place, lenders, buyers, and tenants can be confident in the property’s structural integrity, all at minimal cost to the certificate purchaser. Issuing a PCC is a straightforward process: Build Warranty reviews project documents, arranges a site inspection, and upon approval from its chartered professionals, typically issues the certificate within 24 hours. One satisfied client shared their experience: “We contacted Build Warranty for cover on our project, a two-unit barn conversion. I found Build Warranty to be incredibly helpful and informative. The staff were efficient, provided sound advice, and offered a quick response. Excellent customer care and great pricing.” Amid concerns over the shrinking capacity of Latent Defect Insurance in the market, Build Warranty stands as a pillar of the industry in the UK. As other insurers withdraw, potential customers are left with limited options to secure their projects, putting them in precarious positions. By offering comprehensive cover from a range of Securing the Future of Property Construction

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