Insurance isn't exactly the most exciting topic of discussion; however, when it comes to certain types, depending on where you live, some insurance is absolutely mandatory. Construction insurance, latent defects insurance, structural insurance along with a few other variants all mean the same thing. Those in the process of a self build will have to consider 10-year structural insurance. This document explains each term, and what it means to developers, construction companies and self builders.

1. 10 Year Structural Insurance: The Essential Q&A
We will admit it; structural insurance is an incredibly boring topic. In fact, we wouldn’t even rank it in
the “bathroom reading” category. However, for those in the process of a self build, 10 year structural
insurance is an option and benefit that should be understood, and most of all considered.
Often times, this type of insurance can be confusing. Many terms seem to blend together, and many
clients find it difficult to work policies out. This quick and essential guide covers the most common terms
we use in the industry. If you are in the process of constructing a new home, business or even building;
keep this guide handy for referral; and try not to fall asleep.
What is structural insurance anyway?
This is the first obvious question, and the answer is short and simple. When first embarking on a build,
this type of insurance is the first to cross the minds of most developers. This type of insurance is for a
property or dwelling. It allows them to get genuine defects resolved later down the road.
What do you mean by defects?
When we say genuine defects, we are referring to a few mishaps that may take place a few years after
the build is complete. For example, the developer and his team of construction workers might have
accidently used shoddy materials to build your home; however, we don’t know they are shoddy until,
let’s say 5 years later. A defect can show itself in waterproofing, and one example can be a leaky roof.
So, structural defect insurance can protect you, the homeowner (builder) against any defect in the
design, workmanship or material or components of the housing unit affecting or causing actual
destruction or physical damage.
It all means pretty much the same
Here’s where some can get confused; this type of policy can go by many names. This includes 10 year
construction insurance, structural warranty, new home defect insurance, and other similar variations.
What do you mean by structural home warranty?
Don’t let the warranty part throw you, as we explained above, this type of policy helps you out later on
down the road. You can decide for how long that particular “down the road” is. For example, a 10 year
warranty means just that – 10 years. So, you will be protected from shoddy construction that pops up in
your home up to 10 years down the road. And yes, there are even 15 year warranties available through
this type of insurance.
Do I really need this type of protection?
Well, depending on where you live there are two definitive answers – yes and no. In some countries,
structural insurance is mandatory and you won’t receive a mortgage on your new build from the bank
without a policy that states you are insured for however long.

2. Besides that, even if you live somewhere where it’s completely optional, we can’t imagine why you
wouldn’t want peace of mind by protecting your new build with a great warranty policy. Unfortunately
there is a huge misconception about construction insurance; many think this is just another “red tape”
fat cat way to make a quick buck off the hard working Joe’s.
This couldn’t be farther from the truth; this type of insurance was developed by certain governments to
prevent significant damage, not only to your home, but more so to your financial stability. Many
unprotected by this type of policies end up paying later on down the road when structural damage
begins reeling it’s ugly head.
We all know and understand how big an investment is being made when we are constructing our new
homes from the ground up. Depending on how big you’re going, self builds can be incredibly expensive.
So instead of having to pay twice, get it all over in one shot and protect your biggest asset.
The lists involved with insurance in general can be frustrating; after all there are so many that are
mandatory in today’s day and age. Mainly car insurance for example, and if you want to protect
yourself, health insurance isn’t really an option. The bottom line is insurance of any kind can be a huge
annoyance, but when it comes to property or your new dream home, taking the chance just isn’t worth
it.
Remember, insurance of any type insures you the best protection possible from possible and unwanted
occurrences. This includes unwanted occurrences in your new home. So, before you start the
construction on your dream home, take a moment to consider 10 year structural home warranty.