Insurance policy issued by Lloyds of London with a Financial Strength Rating of A+ (Standards & Poors)
Includes cover:
This warranty covers All Defects for the first 2 years and major structural defects, INCLUDING weather tightness, for a further 8 years, 10 years in total. The warranty is underwritten by Lloyd’s of London, the World’s leading specialist insurer so it is fully independent and secure for your complete peace of mind. The policy will protect the purchaser and any future owners so it also improves your investment if ever you decide to sell. Because it covers defects in design, materials or workmanship, it means any major problem is likely to be covered.
When buying a new home, it’s important to ensure that you protect your investment with the best warranty available in case of problems after completion. Your developer has made sure you have the peace of mind of a 10 Year Building Warranty Insurance underwritten by Lloyds of London.Our policy provides the highest standard of Building Warranty and Latent Defects Insurance for residential property of all types, including single homes, townhouses, apartments and renovation or re-clad projects. It covers Major Structural Defects and Failure of the Waterproof Envelope due to:
If you sell your home your warranty can be transferred to the new owner. This is certain to give potential buyers greater confidence in your home.
Our policy is based on the full contract price and will be linked to the Building Price Index to ensure that your cover keeps pace with inflation. This is so important when you consider that a claim could occur towards the end of the 10 year term.
Defects Insurance Period – 2 years For 2 years from the date of completion the developer/ builder is responsible for rectifying defects in the property. If the developer/ builder fails to remedy defects in the home for which they are responsible we will pay for another builder to carry out the works.
Structural Insurance Period – 8 Years For a further 8 years from the end of the defects insurance period we will pay to rectify major structural defects in the property, including weather-tightness issues. Extensions Included
Stamford Insurance Ltd is a Registered Financial Adviser and has wide experience in insurance for the construction industry. Our policies are designed especially for New Zealand and we are authorised to issue building warranty insurance here on behalf of Certain Underwriters at Lloyd’s of London.