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Construction Insurance

Whether you are a Developer or other professional working within the construction industry, we provide a broad range of specialist services to support you.

In addition to structural warranties, we also have access to a wide range of niche and bespoke insurance products via our Principal – Kay International PLC.

Please don’t hesitate to Contact Us, should you have any queries.

Construction Insurance

Whether you are a Developer or other professional working within the construction industry, we provide a broad range of specialist services to support you.

In addition to structural warranties, we also have access to a wide range of niche and bespoke insurance products via our Principal – Kay International PLC.

Please don’t hesitate to Contact Us, should you have any queries.

Residential Warranties

You may be building a single unit using a bespoke design, or undertaking a complex conversion project, or about to embark on a large scale residential development.

At Compariqo, we are able to look at a wide range of structural warranty options for you from different providers across the market place, helping you to make an informed choice based on your specific needs.

Mixed Use Schemes

Many developments will include an element of commercial space, typically on the ground floor with residential units above.

Compariqo can source structural warranty cover for these mixed used developments whether you require cover for specific parts of the build, or the whole development.

Insurance Backed Guarantees

These guarantees typically relate to specialist works concerning flat roofs and basements when they form part of a new or newly converted development.

If your development has a flat roof or basement, some warranty providers will require an insurance backed guarantee, or IBG to be provided by the contractor undertaking these works. Whether you’re a contractor undertaking this work, or a developer who is required to provide an IBG, we can guide you through the process involved in obtaining one.

Contractor Insolvency Cover

Contractor Insolvency is a risk to all construction projects, which has been highlighted recently with the collapse of Carillion.

If you are a main contractor involved with a construction project, you may be required to provide some form of insolvency cover, or bond up to the value of the building contract or an agreed sum. This provides peace of mind to the Developer, should the contractor become insolvent. If this situation occurs, the bond provider will pay the reasonable cost (to an agreed sum) in relation to the contract price to complete the construction work. Please do contact us if you wish to discuss insolvency cover.

Deposit Protection Cover

As a Developer you are likely to be collecting deposits from purchasers to secure the purchase of a particular plot, often before it is completed.

Typically this is between 5 to 10%. As a developer, you may wish to utilise some of all of this money to fund construction costs. Within some structural warranty products, loss of deposit protection is built into the cover provided, providing protection to purchasers for the loss of their deposit, should you become insolvent. 

There are limits with this cover. For other providers, deposit protection cover is not included and if you’re using deposit funds you may wish to arrange this cover separately to provide peace of mind to your purchasers that deposits paid are protected up to an agreed limit. We can help arrange this cover for you if needed.

Legal Indemnity Insurance

Legal indemnity insurance is increasingly being offered by Sellers or demanded by Buyers in order to protect buyers and lenders from reported defects in property that cannot otherwise be resolved.

Widely considered to be a fast and cost-effective way of covering high-risk areas that would otherwise need to be remedied, cover can be transferred automatically to a new owner and can be increased in line with the value of a property.

Construction Bonds

Compariqo can quote you on a range of construction bonds. Whether you need a performance bond to provide assurance that a contractor will perform his obligations under the agreement, a payment bond to guarantee payments to workers and suppliers or a bid bond to protect project owners, we can gather a range of quotes for you to compare.

We can also arrange Road Bonds (also known as Section 38) and Sewer Bonds (known as Section 104). These bonds are largely required by local authorities to ensure that roads and sewers are built to a timely and satisfactory standard. The Bond is usually taken out on a voluntary basis between a contractor and local council for the value of the planned roadworks. As work progresses, the value of the bond decreases and ceases once the council has issued a final certificate to adopt the road or sewer.

Landlords Insurance

We can arrange Landlords Insurance for Developers and Property Investors to ensure that assets and rental income are protected.

Whether it be an individual property, an entire property portfolio or a block of flats, we can arrange different levels of cover according to your needs.

Many lenders make Landlords Insurance a requirement if you are applying for a Buy-To-Let Mortgage, and in the event damage to a property, standard home insurance may leave a claim invalidated if the property is rented.

A typical policy for landlords’ insurance can include cover for loss of rental income, damage to contents, damage to property and against liability claims made against you. We can also arrange optional extra covers such as Accidental Damage, Employer’s liability, Malicious damage, Unoccupied Property Cover, Property owner’s liability.

We research the market, so you don’t have to

We research the market, so you don’t have to