Newton latent defects guarantee is the ultimate in waterproofing insurance
Newton Waterproofing, the UK’s leading independent designer and supplier of guaranteed structural waterproofing systems, has launched its new Latent Defects Insurance – and it is the only such policy available through a UK waterproofing supplier.
With experience of more than 170 years, the family-run business based in Tonbridge has been providing clients with an unrivalled service for decades. Now, the Newton Latent Defects Insurance will provide customers with the ultimate protection.
Newton Waterproofing’s MD Warren Muschialli said: “In 2019, the construction insurance guarantees market underwent significant change, with a number of insurers withdrawing from the sector. Early in 2020, there was a further reduction in the number of rated insurers able to provide insurance for waterproofing.
“A lot of companies will provide self-guarantees but there is no insurance provided, while others will provide warranties that are not insurance-backed.
“But with our Newton Latent Defects Insurance we have managed to provide a unique policy which is backed by an A-rated, UK-based insurer.”
With a policy term of up to 12 years, the Latent Defects Insurance is available on qualifying projects which use multiple Newton waterproofing products to achieve a minimum score of 3.0 on the Newton Waterproofing Index (NWI). The NWI is a unique specification tool that provides specifiers and designers with a scoring system to accurately assess the level of risk and potential success involved in any waterproofing design.
The application for the guarantee is made via the installer directly to Newton’s A-rated insurer, and for the first two years of the policy the responsibility for repairing any leaks and defects lies with the installing contractor. Once this period has expired, all repairs are the responsibility of the insurer.
Newton’s Specialist Contractors have been specifically audited to ensure they meet the necessary requirements to be able to provide the guarantee, while Newton’s waterproofing solutions and products have also successfully passed a rigorous auditing process to ensure that they are of sufficient quality to support the guarantee.