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Are you ready to apply for a structural warranty quote but unsure of the process? We guide you through it with the answers to our frequently asked questions.
Applying for a quotation from LABC Warranty is straightforward and several options are available to you.
If you are an existing / previous customer, the quickest way to apply is via the customer Extranet . Using the Extranet will save time as we will already hold some information about you and you will not need enter this again.
If you prefer, you can download PDF application forms here. There are specific forms for New Homes and Social Housing, Self-Build and Completed Projects, Private Rental Homes and Commercial developments.
If you’re applying for a major project or a bigger scheme with more than 100 units, you may wish to speak to one of our account managers. Find the account manager for your area (based on your main office address, not the development site address) by visiting our Meet your Account Manager page.
It is worth noting at this point that we are unable to provide structural warranties for barn conversions.
To calculate your indication we will require the following information from you:
If you are not already registered with us please provide your developer rating from your previous warranty provider where possible.
An overview of your development, i.e. number of units and the type of construction.
For new homes we will need the estimated total sale price of the properties you are building.
For all other schemes we will need the estimated total reconstruction cost of the properties you are building.
Please note that a full application form must be completed in order for a formal, binding quote to be issued.
There are three main elements that will affect the cost of your warranty:
Your developer rating –calculated using your past experience and claims history, along with any rating scores you have from other warranty providers.
Your financial strength – we may consider your credit rating and company accounts.
The size of your development – either the total reconstruction or sale price of your development.
An application form can be submitted online or via email, post or fax. We respond to all our standard quotes within 5 days but most are completed in less than 2 working days.
We recommend you submit the form at the earliest possible opportunity prior to starting on site. Should we need any additional information with your application, we will contact you to discuss exactly what we need.
Your quotation will include a ‘quotation acceptance form’. To accept your quote simply complete and return this form to us. We will then send you an invoice and your surveyor will contact you within 5 working days.
Please note, we can only accept a quotation acceptance form if it is signed by the owner of the land to be developed at the time of acceptance.
Once your acceptance has been processed, you will receive an email containing your order details, key contacts and details of any additional information that we require. An invoice will be attached to your email which will include details of your payment plan.
There may be some conditions on your quote we need you to satisfy before your Certificates of Insurance can be issued.
These conditions may be technical requirements for your build, administrative issues or requirements for security.
These conditions must be satisfied prior to completion of your build. You should therefore consider whether you will be able to meet these requirements before proceeding with your order.
An escrow is sometimes required by LABC Warranty to protect against the unlikely event a developer/builder is unable to fulfil their obligations under our policy such as in the event of insolvency.
Escrow amounts are calculated based on the rating of the developer/builder and the number of units to be built within the development.
Escrows are held by our third party legal advisors until we are satisfied that all of the obligations have been fulfilled as outlined below:
• If an escrow is required to cover insolvency during the build period, then escrow amounts will be returned to the developer once the Certificate of Insurance has been issued on the final unit of the development.
• If an escrow is required to cover the developers responsibilities during the Defects Insurance Period, escrow amounts will be refunded 12 months after the completion of the developer’s period of liability, based on the date of the last Certificate of Insurance issued on the development.
Interest will be payable on sums deposited at the best rate obtainable on instant access accounts by MD Insurance Services Ltd from Barclays Bank PLC from time to time.
If you need more information on our quotation process, check out our blog on 'How the structural warranty quotation process works'