Difficulty insuring renovated homes lacking structural warranties
💸 moneysocial problemSingle report ●●●●●
A prospective homebuyer is concerned that purchasing a recently renovated building that lacks a Professional Consultants Certificate (PCC) or structural warranty will make it difficult to obtain buildings insurance, increase premium costs, or cause issues with future claims.
What people do today
- Attempting to obtain a retrospective structural warranty
- Consulting with specialist insurance brokers
- Requesting a structural survey from the seller
🔧 Fix this
Ideas a builder, maker or community group could start on:
- A marketplace platform connecting homeowners with structural engineers who specialize in issuing retrospective structural certifications for insurance purposes.
- A specialized insurance comparison tool that filters providers based on their willingness to cover properties without standard structural warranties.
- A standardized checklist and guide for homebuyers to assess the insurance risk of properties lacking PCCs before finalizing a purchase.
Real voices
“is this likely to affect our ability to get buildings insurance on the property? Might it be taken into account when calculating premiums? Could it pose a problem in the event of a claim?”
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