Our Latent Defects Insurance Policies

Checkmate provides a range of ten year latent defect insurance policies for the house-building and construction industry. We offer policies for all types of new and newly converted/refurbished homes for sale and rent and all types of social hosing. We offer cover on commercial, retail and leisure developments and specialise in multi-tenure, mixed use and large scale urban regeneration projects across the UK. Checkmate also operates a scheme for administrators and receivers requiring cover for part built and completed projects where they are acting for development funders in possession of a site.

The latent defect policies we offer are:

  • Castle 10 – new and newly converted/refurbished homes for sale, shared ownership or private rental.
  • Collective 10 – new and newly converted/refurbished homes owned by Housing Associations, Registered Social Landlords and Registered Providers for social rent.
  • Knight 10 – new and newly converted/refurbished homes built under contract for a private client that already owns the land.
  • Bishops Gate 10 – new and newly converted/refurbished non residential premises.
  • Castle 11+ - annual renewable cover for homes which are nearing the end of their initial ten year new home warranty policy.

Key policy cover & limits:

 Castle 10

  • Loss of a purchaser’s exchange deposit before the property is complete, up to 10% of the contract price, with no inner financial limit.
  • Structural and non-structural cover for the first two years following legal completion up to the declared purchase price, with no inner financial limit.
  • Structural cover for years three to ten following legal completion up to the declared purchase price with no inner financial limit.
  • Limited cover for land contamination throughout the policy term.
  • The ten year policy can be annually renewed from the end of year ten subject to underwriting and additional premium and fees.
  • Automatic extensions in cover to include the reasonable costs of professional fees, removal or debris and alternative accommodation in the event of a valid claim.

Please see the policy wording for full details of cover, conditions, exclusions and insured limits and maximum policy liability.

Collective 10

  • Structural cover for the full ten year term including foundations, load bearing structure and weatherproofing of the building envelope up to the declared contract price.
  • Limited cover for land contamination throughout the policy term.
  • The ten or twelve year policy can be annually renewed from the end of year ten subject to underwriting and additional premium and fees.
  • Automatic extensions in cover to include the reasonable costs of professional fees, removal or debris and alternative accommodation in the event of a valid claim.
  • Optional extensions to the cover at additional cost to include:
    • Contractor insolvency cover during the build period
    • Loss of rental income as a result of a valid claim
    • 12 year policy term where the building contract is signed as a Deed
    • Increase the standard policy excess of £1,000 for a reduction in the premium element

Please see the policy wording for full details of cover, conditions, exclusions and insured limits and maximum policy liability.

Knight 10

  • Structural cover for the full ten year term including foundations, load bearing structure and weatherproofing of the building envelope up to the declared contract price.
  • Limited cover for land contamination throughout the policy term.
  • The ten year policy can be annually renewed from the end of year ten subject to underwriting and additional premium and fees.
  • Automatic extensions in cover to include the reasonable costs of professional fees, removal or debris and alternative accommodation in the event of a valid claim.

Please see the policy wording for full details of cover, conditions, exclusions and insured limits and maximum policy liability.

Bishops Gate 10

  • Structural cover for the full ten year term including foundations, load bearing structure and weatherproofing of the building envelope up to the declared contract price.
  • Limited cover for land contamination throughout the policy term.
  • The ten or twelve year policy can be annually renewed from the end of year ten subject to underwriting and additional premium and fees.
  • Automatic extensions in cover to include the reasonable costs of professional fees and removal or debris in the event of a valid claim.
  • Optional extensions to the cover at additional cost to include:
    • 12 year policy term where the building contract is signed as a Deed
    • Increase the minimum policy excess for a reduction in the premium element

Please see the policy wording for full details of cover, conditions, exclusions and insured limits and maximum policy liability.

Castle 11+

  • Structural cover for one year including foundations, load bearing structure and weatherproofing of the building envelope up to the declared sum insured; subject to an Existing Building Assessment which must be paid for in advance.
  • Limited cover for land contamination throughout the policy term.
  • The policy can be annually renewed subject to underwriting and additional premium and fees.
  • Automatic extensions in cover to include the reasonable costs of professional fees, removal or debris and alternative accommodation in the event of a valid claim.

Please see the policy wording for full details of cover, conditions, exclusions and insured limits and maximum policy liability.

As well as being used independently the above latent defect insurance policies can be used alongside each other to ensure that different tenures and mixed-uses within the same building can be correctly covered. For example it is very common to have a new multi-storey building with retail space on the ground floor and then a floor or two of commercial/office space with several floors of residential above. These can incorporate owner-occupier, shared ownership, private rented, and social rented homes; all of these can now be correctly insured with a combination of Checkmate policies. A new floor being added to the top of an existing structure can also be insured separately or with the existing structure included.

IMPORTANT INFORMATION: All Checkmate warranty policies are subject to our Terms & Conditions, underwriting and risk management procedures. It is your responsibility to disclose any relevant information or material fact that may affect the decision to offer cover, the terms applied to the cover or the cost of the cover. If you are in any doubt as to whether the information or material fact(s) you are aware of are relevant, you should disclose them. Failure to disclose any relevant information or material fact may entitle the insurer to cancel the cover from inception and seek repayment of any claims which have been settled.

If you would like to find out what the likely cost will be for a development then please click Premium Indication and our on-line system will guide you through process of obtaining a premium indication for any type of development.

Members Log-In
Username
Password
Remember Me
Request a call back
Time to call: