The Experts in Self-Build

When you build a self-build or new home, it’s crucial you ensure it has a 10 year Structural Warranty in place so you can sell it easily and protect your project. But with a range of Self-Build structural warranty providers, how do you know who to choose? It’s simple – always go for an ‘A’ Rated provider, or you risk choosing an unstable company that could leave you uninsured.

When you build a self-build or new home, it’s crucial you ensure it has a 10 year Structural Warranty in place so you can sell it easily and protect your project. But with a range of Self-Build structural warranty providers, how do you know who to choose? It’s simple – always go for an ‘A’ Rated provider, or you risk choosing an unstable company that could leave you uninsured.

This is why the Self-Build Zone structural Warranty policies are backed by an ‘A’ Rated global insurer and has received full approval from the Chartered Trading Standards Institute (CTSI). Plus, we help you minimise any defects right from the start by making sure every self-build we cover is subject to a full technical review by Build-Zone Survey Services Ltd.

These agencies assess and establish if an insurer has long term financial strength and it’s subsequent ability to pay valid claims.

A lower-rated insurer, such as a ‘B’ or ‘C’, is deemed to have a poorer ability to settle claims.

Unrated insurers on the other hand, do not qualify for a financial strength rating by these agencies, meaning there is no evidence of their ability to pay claims and their long-term stability has not been independently verified by these industry standard companies.

Also, not all insurers are based in the UK and therefore not subject to the same regulatory bodies. Unrated insurers based outside of the UK, their local regulatory bodies may not also subject their insurers to the same rigors that the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) do in the UK. Many are also not part of the Financial Services Compensation Scheme (FSCS) which can provide some protection to homebuyers if the insurer goes into liquidation.

What happens if I don’t use an 'A' Rated provider?

If the insurer you select goes out of business, that cheaper initial premium you paid could ultimately lead to you spending more money in the long run. Not only could you lose the premium you originally paid, but you will have to also buy and pay for another new structural warranty, so you can sell the property onwards, as lenders in the UK require a New Home to have a 10 year Structural Warranty before they will lend funds to the buyer.

It’s also more challenging to find a structural warranty retrospectively. This is because ‘A’ Rated insurers will send out competent professionals to carry out technical audits throughout the construction process to make sure that the property is being built to a high standard and identify any defects early on.

If your self-build has already been completed or mostly built, it’s more difficult for your new structural warranty provider to assess the integrity of the build – so this will be reflected in the cost of your premium.

So how do I find the right provider for my New Home Warranty?

Luckily there’s a range of ‘A’ Rated providers on the market who can offer structural warranties at competitive prices. Let’s look at what you should consider, so you can choose the right insurer from the start.