What is LABC Warranty cover and when does it start?

The cover is a ten-year insurance policy divided into three main parts:

  • Building Period
  • Defects Insurance Period
  • Structural Insurance Period

Please refer to your Certificate of Insurance for details of these cover periods.

Building period

If, due to fraud or insolvency, the developer does not commence building your home or fails to finish it, LABC Warranty will reimburse money you have paid the developer for the home that cannot be recovered from him. If the property is not finished, LABC New Home Warranty can arrange for the property to be finished. 
Both of the above are subject to the financial limits set out in your policy.

Defects insurance period

The LABC Warranty covers you against any physical damage to the home caused by a Defect that results from the developer failing to meet current national standards or those set down in our Technical Manual.  
 
During this period the developer is responsible for repairs to specified defects. You must report any faults to the developer in writing as soon as possible, and you should keep a copy of your letter. LABC Warranty can also help arrange the remedial work needed to put things right if the developer fails to do so. If the developer and builder are insolvent, then LABC Warranty insures their obligations.

Structural insurance period

LABC Warranty covers you against the full cost of putting right any physical damage to your home caused by a defect in any one of the specified parts of the building (if it is more than the Excess indicated in the Certificate of Insurance).

Please remember that during the structural insurance period, this part of the LABC Warranty policy does not cover items such as gutters, central heating,
internal plaster finishes, fixtures and fittings etc. Nor does it cover you against any claim that is insured elsewhere, or by your household insurance policy (e.g. storm damage to roof tiles).

  • Summary of cover
  • LABC Warranty