For most people, the purchase of a new home is the biggest investment they are likely to make. It is vital therefore that this asset is protected. HomeBond Insurance is not a luxury but an essential protection. HomeBond helps the Home Buyer protect their investment in a number of ways:
Latent Defects Insurance + Mechanical & Electrical Inherent Defects Insurance
HomeBond Insurance Services Ltd. provide two 'first party' insurance policies for newly built homes, which offer unrivalled protection* for up to 10 years for the first home owner and subsequent owners too, in housing developments or individual homes on private sites. The insurance policies are underwritten by two of the world’s leading insurance companies and all valid claims that fall within the scope of the policies are dealt with by the underwriters.
Underwritten by Allianz plc. with four elements of cover* for non-compliance in design, workmanship and/or materials of a functional requirement of the Building Regulations:
Deposit cover* is also provided for the first owner for the loss of money deposited for the construction or purchase of a new home.
Underwritten by HSB Engineering Insurance Ltd with 5 years cover* for actual or impending damage arising from faulty or defective design, workmanship or materials in new mechanical and electrical fixed service equipment comprising:
*Limits and exclusions apply. The cover details given in this advertisement are a summary of the covers provided. Full terms and conditions and obligations are set out in the Policy Documents, the Dwelling Registration Proposal Form, and the Membership Rules.
The maximum We will pay for any claim inclusive of any investigative, defence, settlement or legal costs arising under the relevant Sections is:
The amount of any deposit made by the Policyholder to a maximum of 10% of the agreed contract price for the Housing Unit.
This is subject to a limit of €30,000 for any one Housing Unit and an aggregate limit of €1,000,000 for any one Developer.
If it appears that the total claims anticipated and paid under Section 1.1 for any one Developer will exceed the limit of €1,000,000, We may, at our discretion, reduce individual claims from all affected Policyholders. This reduction will be calculated by the ratio of total claims to the Limit of Indemnity of €1,000,000 for any one Developer.
€50,000 for any one Housing Unit or the rectification cost for the Housing Unit, whichever amount is less. The financial limit for all Housing Units in one Continuous Structure is €500,000.
€200,000 for any one Housing Unit or the rectification cost for the Housing Unit, whichever amount is less. The financial limit for all Housing Units in one Continuous Structure is €2,000,000.
The financial limits for Sections 1.2 and 1.3 are index linked in accordance with Condition 8 of the policy.
A policy excess of €650 applies in respect of each occurrence for which you make a claim under this policy.
Your policy provides cover for €50,000 in respect of each occurrence of damage or impending damage.
A policy excess of €650 applies in respect of each occurrence for which you make a claim under this policy. This is the amount that you are liable to pay and it will be deducted from the final settlement amount agreed by us.
The limit of Indemnity and the excess will be increased in line with the House Building Cost Index prepared by the Department of the Environment Community and Local Government (or successor bodies) or 5% per annum, whichever is less, on the anniversary of the start of the period of insurance.
In addition your policy will provide cover for the following:
The most we will pay under extra covers 1 to 3 is €10,000
The most we will pay under extra under extra covers 4 and 5 is €5,000.
HomeBond Insurance Services Ltd is regulated by the Central Bank of Ireland and is a sub-agent of Arachas Corporate Brokers Ltd. trading as Arachas who are regulated by the Central Bank of Ireland and who are an appointed intermediary of Allianz plc. & HSB Engineering Insurance Ltd. Allianz plc. is regulated by the Central Bank of Ireland. HSB Engineering Insurance Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the UK and is regulated by the Central Bank of Ireland for conduct of business rules.
HomeBond Insurance provides Home Buyers with insurance cover, underwritten by Allianz plc.
HomeBond Insurance is underwritten by Allianz plc, one of the world’s leading insurance providers.
HomeBond Insurance is designed to provide Home Buyers with a fast and effective claim resolution.
HomeBond Insurance is backed up by HomeBond’s large technical services team.
HomeBond is an established Irish company and recognised brand name.
HomeBond now offers a Building Regulations Training Programme, through HomeBond Technical Services Ltd.
Click on link for Brochure: http://www.homebond.ie/uploads/Building Regulations Training Programme - 180412.pdf