The Q Policy is a structural warranty for new build, refurbished and converted properties which puts quality build and customer service first.
It offers residential developers and builders the opportunity to work with a warranty provider which helps you to deliver high quality developments that exceed the expectations of your buyers.
Key Features: The Q Policy for Residential Properties
Our Site Visits
During the build process, we carry out regular physical inspections of each property* we insure on behalf of the underwriter.
These visits are to ensure that the property meets our Technical Requirements and is fit for insurance purposes.
While these visits are not to guarantee the quality of the works, our site surveyors are experienced and knowledgeable, so when we accept a property for insurance cover, it means we are satisfied that it has been built in accordance with good building practice.
*If a property has already commenced or is completed when we are asked to provide a quotation, we may not have the opportunity to inspect it at the same frequent intervals as a property which has not yet been started.
Under The Q Policy, underwriters only insure new homes which are built and sold by companies registered with Q.
This means we assess the financial & technical competence of each company we work with and ask them to sign up to a Terms of Business Agreement which sets out their responsibilities to the insurer and what they can expect from us and the insurer.
The Consumer Code for New Homes is a Chartered Trading Standards Institute Approved Code which aims to protect consumers from undesirable trading practices during the new home purchase process.
It sets standards for all registered developers to ensure that best practice is followed in respect of the marketing and selling of their new homes, and also sets expected standards for after sales customer care service.
The Code also provides an independent Dispute Resolution Scheme, giving consumers access to clear, speedy and low cost dispute resolution if things don’t go according to plan.
All Q developers commit to complying with the requirements of the Code when they register with us.
What does the Residential Policy cover?
Our structural warranties aim to be easy to follow and provide certain insurance cover for the owners of the buildings for 10-12 years following completion of the build period. Each warranty is slightly different depending upon the underwriter of the policy, but typically they include cover for the following:
Customer Services Guarantee Period
During the two year period following completion of the build, the Developer or Builder is responsible for arranging the repair of any Defects identified and reported by a Policyholder.
The Q Policy will respond if the Developer / Builder fails to rectify known Defects because they are no longer able to due to fraud or insolvency, subject to the conditions of the policy.
Use of this policy also requires the Developer to follow the requirements of the Consumer Code for New Homes.
Further information about what The Q Policy covers is available in the Insurance Product Information Document (IPID) specific to the policy assigned to your project or property the wording of which will vary depending upon the underwriter of the policy.
View our other policies
For affordable housing constructed by a Builder under contract to a Housing Association
PRIVATE RENTAL SECTOR
For new homes owned/managed by commercial landlords which will be rented.
For new and converted homes which are being commissioned by private clients to live in and are constructed by a Builder under contract.