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One Guarantee are able to offer structural warranties for self-build projects where the owner is appointing a main contractor to construct the housing unit on their behalf. If a self-build mortgage is required, the lender will often insist that a recognised building warranty is in place before releasing any funds. While an Architects Certificate or Professional Consultants Certificate is seen as a popular alternative to a self-build warranty, there are a number of considerations that need to be taken into account before opting for a non-insurance-based solution, these are explained below.
A One Guarantee self-build warranty will cover the costs to completely or partially rebuild or rectify the self-build unit to its original specification as a result of a structural defect. Defects may not always be apparent at practical completion but may often come to light several years later. Many of the items covered under a self-build structural warranty policy are excluded under an ordinary home/household insurance policy. It is therefore crucial the right cover is in place.
Major structural damage could often be very costly to put right, therefore it’s important to have the right policy in place to protect your dream home should the worst happen. Our policies run for 10 years as standard, and as part of the process we instruct our surveyors to audit each key stage of the build process to ensure the highest standards are met. A self-build warranty will give any homeowner the peace of mind and financial security a home deserves. Our policy will also cover the additional costs and expenses necessary for alternative accommodation, as well as the additional professional fee’s incurred to complete the self-build unit.
Professional Consultants Certificates
Many people looking to construct their own home opt for a Professional Consultants Certificate (PCC) or Architects Certificate to fall back on. This is not an insurance policy, but instead, confirmation from the Architect that the house has been built in accordance with the specified drawings. An Architects Certificate/PCC is generally valid for a period of only 6 years. In the event of a defect, the homeowner must firstly prove negligence against the architect before any re-construction work can be undertaken. This is a costly and drawn out process which can often be difficult to prove and delay any rectification works. Furthermore, there is a requirement for the architect to maintain sufficient levels of Professional Indemnity insurance for the full 6 years.
Additional Benefits of Our Policy
- 12-year policy as standard
- AA-rated Insurer
- Contaminated land cover
- Cover to comply with Building Regulations
- Alternative accommodation, professional fees, debris removal and additional costs
- Instalment facilities available (subject to approval)
- The Contractor That Built My House Is Now Insolvent – Can I Still Claim?
A self-build warranty is an insurance contract. This means that if the fault with your home is covered under the insurance policy, you are eligible to make a claim regardless of third-party solvency.
- What Happens If My Home Is Uninhabitable?
If your home is uninhabitable due to a structural defect that insured under the policy, One Guarantee will provide all reasonable additional costs for alternative accommodation subject to a maximum period of 26 weeks.
- What If I Eventually Want To Sell My Home?
Our policy will be freely assignable to any future owner should you wish to sell your home in the 12 years following the practical completion of the build. This will make your home more attractive to sell as you are providing the additional peace of mind to the buyer that their home is sufficiently protected against major structural damage that may occur.