Homeowners’ concerns drive popularity in building work warranties

The Federation of Master Builders subsidiary Build Assure has seen a significant increase in the number of domestic building warranties being taken out by homeowners looking to protect their home improvement investments.

Driven by increased consumer awareness, influenced by media programs highlighting cowboy builders and the cost of rectification work, homeowners are turning to warranty insurance to protect themselves against such risks.

David Hill, Director at Build Assure, comments: “Renovating, improving, extending or even building your own home can be a costly venture, which is why our domestic warranties are proving so popular. In today’s uncertain economic climate, developers – be they professionals or homeowners – would rather avoid spending excess on improving building works that may not have gone to plan or completing works if the builder goes out of business. This is why we offer homeowners the reassurance they need that no matter what problems may arise, they are protected financially and, as this is what most builders and homeowners want, we’ve seen a sharp increase in the popularity of our domestic warranties.”

Build Assure’s Domestic and Commercial warranties are flexible insurance-backed guarantees that provide security during the construction process. Each is specifically designed to provide consumers with complete peace of mind throughout a building process – from home improvements, extensions and repairs to new home self builds – for a specified period even after the construction project is finished.

These same insurance products also benefit subsequent owners as they can cover the property’s development and improvements for up to two years for faulty workmanship and eight years for structural damage.

David concluded: “Our competitively-priced warranties start at cover for loss of deposit or liquidation during building works and go on to incorporate a range of structural and water ingress problems. Each domestic warranty is designed to reduce homeowners’ worries so they can get on with developing their home quickly and smoothly.

“We also offer a range of affordable warranties that cover every development and improvement, whatever they may be, and off the back of demand from homeowners, we added to our existing offerings with the recent introduction of a new build policy for anyone constructing their own home.”

To find out more, visit fmbuildassure.co.uk.