Building Warranties & Latent Defects
AMI Specialty can organise latent defects insurance to help cover the repair costs on commercial, residential and mixed-use developments for large-scale developers or individual self builds. This insurance would cover the costs of a rebuild, should signs of structural damage appear – possibly months or even years after the practical completion of a new-build or conversion project.
One of the key advantages of latent defects insurance is that it doesn’t require for you to establish who was responsible or to prove negligence. This means it avoids the necessity for protracted litigation before any repairs can be carried out.
Latent defects insurance provides a cost effective, high-performance alternative to collateral warranties, although they often work hand-in-hand.