{"id":44375,"date":"2018-08-13T15:08:46","date_gmt":"2018-08-13T14:08:46","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=44375"},"modified":"2018-08-13T15:08:46","modified_gmt":"2018-08-13T14:08:46","slug":"ahci-retrospective-insurance-guide","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/building-control-news\/ahci-retrospective-insurance-guide\/44375\/","title":{"rendered":"Advantage AHCI\u2019s guide to retrospective insurance"},"content":{"rendered":"

If you\u2019re looking to sell a property which has been built in the last 10 years but has no structural defects warranty, you\u2019re going to be all out of luck. Lenders don\u2019t grant mortgages to prospective buyers if a property doesn\u2019t have this type of insurance policy in place<\/h2>\n

This is where retrospective structural defects insurance (SDI) comes in \u2013 insurance which protects the buyer from liability from pre-existing structural issues.<\/p>\n

In this guide, Advantage (AHCI)<\/a> will be walking you through what retrospective SDI means for you and your home, and how you can go about obtaining a warranty for yourself.<\/p>\n

So, what exactly is retrospective structural defects insurance?<\/h3>\n

Retrospective structural defects insurance was specifically created to guarantee that vendors in the aforementioned position can sell their properties easily and efficiently. Prior to the insurance being issued, a full structural survey has to be undertaken so that existing problems can either be corrected or excluded from the policy. Works which were undertaken before your policy started, however, will be covered by retrospective insurance \u2013 it extends cover back to a specified date, known as the \u201cretroactive\/retrospective date\u201d. The date will be noted on your schedule should you need to claim on it.<\/p>\n

This is the great thing about retrospective structural defects<\/a> warranty \u2013 you\u2019re covered even if you didn\u2019t have insurance back when you probably <\/em>(read: definitely) should have.<\/p>\n

What does retrospective structural defects insurance cover?<\/h3>\n

Unfortunately, it\u2019s not quite like going back in time and fixing every little mistake in your property before it happened. In general, coverage for these policies is quite limited, as the insurance is mainly for serious defects in your home such as rain infiltration, drain issues, subsidence or similar. More low-level problems like ill-fitting doors or creaky floorboards aren\u2019t generally included.<\/p>\n

Certain items, like superficial roof damage and double-glazing issues, are optional where coverage is concerned \u2013 so as with any insurance policy, always make sure you\u2019re reading the fine print. The more things you want to include in the policy, the more costly it will be.<\/p>\n

Retrospective structural defects warranties are completely transferrable to any new owners of the property over a 10-year period, as the certificate is attached to the home rather than the person who takes out the insurance.<\/p>\n

How can you get a retrospective structural defects warranty?<\/h3>\n

There are a number of steps you need to take before securing retrospective insurance cover:<\/p>\n