Zurich, a well-known name in the insurance and financial market, previously offered the Zurich Building Guarantee, a new build warranty in the UK. This page provides an overview of the warranty, which Zurich no longer offers, though they continue to honour existing ten-year warranties.
While Zurich is no longer offering new build warranties, their Zurich Building Guarantee played a significant role in the UK property market. The warranty provided peace of mind to homeowners and was a requirement for mortgage lenders.
Coverage of the Zurich Building Guarantee
The Zurich Building Guarantee, known as the “standard 10”, was designed to cover new build homes in the UK. It included several key features:
- Deposit repayment during the build period if the housebuilder went out of business.
- A two-year Developers Warranty Period (DWP) covering snagging defects, with a resolution service provided by Zurich for unresolved issues.
- A 10-year Structural Insurance Period (SIP) covering structural damage due to latent defects, primarily benefitting the housebuilder.
Zurich Home Warranty and Market Position
Recognised for its innovative approach in the new home warranty market, Zurich’s products catered to a range of clients, including private and social landlords, and were essential for mortgage approval and property resale.
Services Offered by Zurich Building Guarantee
The Zurich Building Guarantee provided warranties for various categories, such as new homes, converted homes, self-builds, and housing associations. Additionally, they offered services like building control and technical solutions, reflecting their comprehensive approach in the construction industry.
Zurich’s Broader Role in the Industry
As part of the Zurich Financial Group, Zurich Building Guarantee offered a range of insurance and financial products. Their position in the market was notable for meeting the needs of developers, housebuilders, and homeowners at critical financial decision points.
Zurich&U – Brokerage and Service Expansion
Zurich&U, an internal broker, played a role in connecting construction industry businesses and homeowners with a wider range of Zurich products and services, underlining Zurich’s commitment to expanding its offerings beyond the discontinued new build warranty.
Below you can find details on the warranty provided by Zurich
ZURICH-STANDARD 10 INS. POLICY
- Address: Zurich Insurance Company, Building Guarantee, 6 Southwood Crescent, Farnborough, Hampshire. GU14 0NL
- Phone: 01252 377 474
- Email: email@example.com
- Website: www.zurich.co.uk/buildingguarantee