Once you are registered with NHBC (see NHBC registration), you will need to register each plot for Buildmark Connect cover. The cost is dependent on your Premium Rating and the build cost of the premises.
Buildmark Connect will cover the owner of non-residential premises for 10 years. It provides:
Cover for the first 2 years after completion if you don't meet your obligations to repair defects or damage
Cover for damage to certain parts of the premises in years 3 to 10
Cover for pre-existing contamination of the land on which the premises are built
There are some things that are not NHBC’s responsibility, such as, but not limited to:
wear and tear, neglect and failure to undertake appropriate maintenance
storms and other severe weather conditions
damp, condensation and shrinkage which is not a result of the registered builder failing to meet the NHBC Technical Requirements
Costs of, or associated with, fitting out (including the installation of shop fronts)
There are also certain restrictions on the cover:
we will not pay for claims below the excess (this only applies to Section B of the policy)
there are financial limits to how much we will pay (please see the full policy booklet for details)
Buildmark Connect is our specialist warranty and insurance cover for newly built or newly converted commercial premises in mixed-use developments. For example, a development comprising residential flats plus retail outlets, surgeries or workshops.
You can combine Buildmark Connect with our market-leading Buildmark cover if your scheme also includes homes for sale or with Buildmark Choice if you’re building homes for rent thus keeping your commercial and residential warranties with one provider.
Buyers who require funding for newly-built, non-residential, premises will need cover such as Buildmark Connect in order to secure finance.
Cover starts on the date of the Buildmark Connect insurance certificate - usually the date that we agree that the premises substantially comply with NHBC requirements.
Buildmark Connect cover then ends 10 years after the date on the Buildmark Connect insurance certificate.