THE Association of Specialist Underpinning Contractors has launched a new defects insurance guarantee.
The initiative improves on Asuc's existing insolvency guarantee, covering all works carried out under contract at a property, not just the underpinning.
Only available through Asuc member contractors, the one-off latent defects insurance policy lasts 12 years and gives the client the benefit of a guarantee on the workmanship and design of associated works, including structural repairs and drainage.
It is available for residential and commercial property and can be passed on to subsequent owners.
Clients do not have to prove negligence against any party and the policy includes up to 25% of the contract sum (which is index linked) insured for consequential losses and up to 26 weeks of alternative accommodation.
'Because the insurance is issued direct to the client on their property, the guarantee is a positive asset when selling a property,' Asuc said.