What’s not included and the minimum claim value
Like all insurance policies there are some exclusions you need to be aware of. Also, Buildmark does not have an excess applicable to the policy because we operate a minimum claim value instead.
The following aren’t covered by Buildmark:
- Storms, fire or flood (your normal buildings and contents insurance should cover these).
- Replacement of solar tiles or panels solely because they do not generate heat or electricity
- Cracking, spalling or mortar erosion which does not impair the structural stability or protection from the weather.
- Any additional work done to the property after the completion date that is not as a result of the responsibilities of the builder
- Wear and tear, neglect and failure to do proper maintenance.
- Damage to roof covering, unless the damage results in entry of water into the home.
- Changes in colour, texture or staining of external finishes.
If you are not the first owner of your home, the limits may already have been partly or fully used up by claims from earlier owners.
You should always check your own policy documents for the specific cover, conditions and exclusions that apply to your home. For a full list of exclusions in the current policy document, please see here.
Minimum claim value (MCV) after the builder warranty has expired
We don’t apply a policy excess to Buildmark so you don’t have to pay the first part of any claim to NHBC. Instead, we operate a minimum claim value (MCV) which means that if the cost of your valid claim exceeds the MCV we will do the work or pay the cost in full and you will not have to make any contribution.
However, if the cost of your claim does not exceed the MCV we will not do any work or pay any costs. The precise MCV applicable to your home will depend on how old your policy is but for policies starting on or after 1 April 2019, the MCV is £1,750 (increasing by £50 on 1 April in each subsequent year).