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One Guarantee’s social housing warranties are tailored specifically for registered Social Landlords, Housing Associations, builders and developers that are working on social developments either for shared ownership or rental purposes. Housing Associations as the long-term owners of both newly constructed and refurbished housing can be exposed to the risk of future losses caused by inherent defects, unless they manage the risk with an adequate social housing warranty.

Our 12-year cover will provide protection against the structural defects of a building, as well as contamination of land, and cover against poor workmanship and materials used on social housing developments. Ultimately our social housing warranties will provide the interested party with the peace of mind that cover is in place should any structural defects occur.

If you would like more information about One Guarantee’s Social Housing Warranty, please call us on 01603 218288 or alternatively click here for a quotation.

How Does Your Social Housing Warranty Work?

A One Guarantee social housing warranty runs for a period of up to 12 years as standard. Our policy is divided into two important parts (contractor insolvency cover may also be offered, subject to approval):

1. Defects Insurance Period (practical completion to year 2)
It is the builders responsibility to address any structural defects in the first two years following the practical completion of the build. If the builder fails to rectify these defects, our social housing warranty will step in.

2. Structural Insurance Period (years 3 to 12)
Full risk transfer is provided in years 3-12 meaning that any structural defects which occur in this period will be covered under our policy.

Additional Benefits of Our Policy

  • 12-year policy as standard
  • AA-rated Insurer
  • Contractor Insolvency Cover (subject to approval)
  • Cover for part or completed projects
  • Contaminated land cover
  • Cover to comply with Building Regulations
  • Alternative accommodation, professional fees, debris removal and additional costs
  • No registration/membership fee’s
  • Instalment facilities available (subject to approval)
  • Machinery Inherent Defects Insurance available

FAQs

Can You Insure Against Mechanical And Electrical Defects?

Some of the communal elements of a development may not be covered by a social housing warranty. These can include things such as lifts and escalators, electrical distribution systems and air conditioning units. Machinery Inherent Defects Insurance (MIDI) has been designed to address these areas of a build with a policy which will complement our structural warranty insurance. One Guarantee can offer MIDI which is Underwritten by HSB Engineering Insurance. For more information on MIDI, please see our news article

Is Registration Required Under The Social Housing Scheme?

To be eligible for our social housing warranty, the contractor must register with One Guarantee and meet our requirements including signing and agreeing to our Rules of Registration. Unlike other warranty providers, registration is free of charge but must be annually renewed. We are able to provide a quotation without the need for a builder to be registered, but registration must take place prior to inception of the policy.

Does Your Policy Work With Tenants Right-To-Buy?

If the property is under a shared ownership agreement where by the tenant decides to buy the property from the housing association, our policy will automatically transfer over to the new owner of the property at no extra cost. This can be done for an unlimited amount of times during the 12-year period of the policy.

What Are Your Financial Limits?

Our financial limits refer to the maximum sum insured value Insurers will cover. These are as follows:

  • Single Unit New Development £3,000,000
  • Any Continuous Structure £25,000,000
  • Contaminated Land £1,000,000
  • Building Control £1,000,000
What Excesses Generally Are Applied?

Our financial limits refer to the maximum sum insured value Insurers will cover. These are as follows:

  • All section £500
  • Common Areas £1,000

If you would like more information about One Guarantee’s Social Housing Warranty, please call us on 01603 218288 or alternatively click here for a quotation.

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