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All homes built by us undergo rigorous inspections during construction. All standards are strictly adhered to. No excuses! And of course, all our homes come with the Sovereign Homes Materials and Workmanship Guarantee and a 10 year Structural Guarantee. We stand behind every home we build.
Additionally Sovereign offers the Homefirst Builders Guarantee
The Homefirst Builders Guarantee from Builtin New Zealand Ltd a specialist insurance brokerage, provides you (and your financier) with complete peace of mind when you are embarking on one of the biggest investments you will ever make – the building of a new home, or alterations and/or additions to your existing home.
The Homefirst Builders Guarantee is an insurance which guarantees the obligations of Sovereign Homes New Zealand Ltd to complete your build contract and ensure that your home is free of specified defects. This includes the work of sub-contractors contracted by Sovereign Homes, such as the plumber and electrician.
Sovereign Homes New Zealand Ltd has been professionally assessed by Builtin New Zealand Limited and found to have adequate business skills and capital to give you, the homeowner, peace of mind.
The Homefirst Builders Guarantee covers:
- Loss of Deposit (limited to the lesser of 20% of the Contract Price or $50,000)
- Non-Completion (limited to the lesser of 20% of the Contract Price or $100,000) due to legal incapacity, insolvency, cancellation or suspension of licence, early termination due to wrongful failure or refusal to complete.
- Structural Defects for 7 Years and Non-Structural Defects for 2 Years (limited to $100,000)
- Alternative Accommodation and Removal Costs in the event of this being necessary to best resolve a claim.
The Insurer
Unlike some other guarantees the Homefirst Builders Guarantee has a substantial specialist insurance company, Contractors Bonding Ltd, underwriting it. Additionally Contractors Bonding also carries 'A Rated' re-insurance.
Contractors Bonding is the largest and oldest established provider of credit surety and financial risk in New Zealand, and underwrites the Homefirst Builders Guarantee.
Since its establishment in 1973, Contractors Bonding has built a sound and impeccable business underwriting reputation, enhanced by the strong relationships that have been developed with international ‘A rated’ Reinsurers, coupled with their underlying security indemnities and focus on core business.
Contractors Bonding offers a wide range of credit insurance and financial surety related products with clients in New Zealand and around the world.
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