Structural warranty insurance for basement renovations
Since 2011, there has been a distinct rise in planning applications put forward each year for subterranean extensions. The trend has seen wealthy home owners dig downwards in order to create more space for their premises in which to fit saunas, swimming pools, gyms, cinemas and wine cellars within their properties.
A whopping 800 applications have been made for basement extensions in the Kensington and Chelsea areas alone, many of which have been passed without hesitation from planning officers.
It is not all plain sailing as far as basement extensions are concerned. The process comes with a degree of risk and in many cases, vast expense. Some cases prove to be more expensive than others. Earlier this year, a £3.5million London townhouse owned by Ex Phones4U boss collapsed after caving in whilst developers were part-way through works to create an extensive basement designed to accommodate a cinema, a wine room and gym.
The basement of the Georgian property in West London was in the process of being renovated when it collapsed causing the property to be reduced to rubble. Luckily no-one was injured during the building collapse.
Homeowners considering renovation projects and any form or self-build schemes need to ensure that they have the correct insurances in place to cover themselves to prepare for such an eventuality.
Whether you are building your ‘Dream Home’ or converting an existing building, Build-Zone’s 10 Year Structural Warranty is the best way to protect you against the effect that a major structural defect could have on what is possibly your largest investment.
The Structural Warranty from Build Zone provides a far better alternative to Architect’s Certification and is similar to the NHBC and other Structural Warranty products. The cover is designed for New Build conversions, extensions and completed properties and is backed by Lloyd’s of London.
Structural Warranty provides homeowners with peace of mind and most lenders will probably require a warranty as part of the lending criteria. Should you wish to sell your property in the future, the Build-Zone warranty will give the purchaser peace of mind that it is covered by an insurance backed structural warranty for 10 years from completion.
Find out more about the insurances needed for conversions, extensions and renovations here.
To discuss your requirements for structural warranties, contact the Build-Zone team today:
Telephone: 0345 230 9873
Follow us on your preferred social media