Home Warranty Insurance

 

The CIOB’s comprehensive home warranty insurance provides a range of benefits to CIOB members involved in the design, development and/or construction of both new and refurbished domestic properties.

 

The Scheme is administered through FRD Risk Solutions and is provided by Building Life Plans (‘BLP’) under authority from Allianz Global Corporate & Speciality AG (S&P ‘AA’ Rated).

The CIOB warranty is an insurance policy rather than a traditional warranty and thus provides increased protection and value to the house purchaser. The cover is available through the ‘BLPSECURE’ and ‘BLPSECUREPLUS’ products and is approved by the majority of UK Mortgage Lenders, the DCLG (under the warranty link rule) and The Housing Corporation for affordable housing obligations under Section 106.

Simplified Process

Cover is quick and easy to arrange and is designed to overcome the difficulties associated with some other Warranty Providers.

• • No Builder Registration is required.
• • There are no requirements to arrange a Bond.
• • No Builder Rating System is in force – a flat rate is applied to the construction value to provide   indicative Insurance Premium costs immediately.
• • Proposal Forms can be submitted online. Click here to complete and submit a proposal form.
  
  

Comprehensive Cover

The insurance covers the building and not just the work performed by the builder. The home owner has direct claims access to the Insurance Policy and, consequently, there are no requirements, as with certain other Warranties, to attempt recovery from the builder or enter into dispute proceedings with the builder during the first 2 years following practical completion of the property.

Once a project has reached technical sign-off the risk transfers to a non-cancelable Insurance Policy with no recourse by the Insurer against any CIOB Member involved in the project.

Automatic cover is provided for: -

• • Professional Fees
• • Demolition and Debris Removal Costs
• • Alternative Accommodation Costs
• • Cost of removing, storing and reinstalling the contents of an insured property
• • Additional costs arising from the need to alter design (or construction to comply with new   regulations or changes to regulations since the property was originally built.)
  
  

There is an effective and proven technical review carried out by BLP, based on structured checklists that assist in the prevention of defects arising in the design and construction phases.

The insurance cover starts from practical completion or legal exchange of each individual property.

 

Flexibility

The cover can be tailored to meet the specific requirements of various parties as follows:-

• • 10 or 12 years Cover available
• • Component Failure Cover available to meet the costs resulting from premature failure of non-   structural items within their predicted life-span (such as kitchen units, boilers, electrical wiring,   pipe-work for gas/water/heating and ventilation). This cover is provided under the   ‘BLPSECUREPLUS’ product.
• • Cover can be arranged for Residential, Housing Association and speculative mixed use   developments.
• • Both the ‘Health and Safety’ Extension (this covers the costs incurred in repairing or replacing   the property to ensure compliance with Building Regulations in relation to such matters as   structure, site preparation/resistance to moisture, fire safety, heat producing appliances) and   the ‘Contaminated Land’ Extension (which covers the costs of carrying out agreed remediation   work following the service of a Statutory Notice by an Enforcing Authority in relation to the   insured property) are available if an Approved Inspector is employed in connection with the   property to be insured.

The above is only a summary of the cover available and has been written to outline the major features and optional extensors available.

For a specimen Policy Wording please click here.

For a Background to Building Life Plans please click here

For a Summary of Cover for Secure Product please click here

For a Summary of Cover for Secure Plus Product please click here

To obtain a quote please complete a Proposal Form online by clicking here or by calling FRD on 0845 305 8390to request a Proposal Form.

 

 

If you would like more information then please either contact us or use our ciob enquiry form.

 

 

Registered Address: 14 Castle Street, Liverpool, L2 1TS

Registered in England No. 5314336