Structural Warranty Insurance runs for 10 or 12 years whereas most insurance policies run for only 12 months.
Some key things to consider such as: –
- What happens if your insurer becomes insolvent? If the Insurer goes bust then they won’t still be there to pay the claim.
- What cover are you obtaining
- What are the exclusions?
- Does the policy cover the cost to fully rebuild the property or is there a lower limit?
- Are key elements such as ‘ingress of water’ covered for the full policy period?
It is not always about price. Beware of the increasing number of providers who are offering very low premiums – there is usually a reason why they are cheaper.