Inherent Defects

Inherent Defects Insurance provides long-term assurance against damages caused by structural defects.

Also known as Decennial Insurance, Inherent Defects Insurance (IDI), covers physical damage or imminent collapse of newly constructed property caused by faulty design, engineering, workmanship, or materials in load-bearing elements such as foundations, columns, walls, floors, beams, roofs, and land improvements.

Available to qualified owners, developers, and contractors for up to a 10-year policy term, IDI provides a mechanism for reducing or avoiding construction defects litigation.

Benefits of IDI

Long Term Assurance: Unlike a CAR Policy, IDI covers your project long after completion.

First Party Cover: Unlike a PI Policy, IDI does not typically require proof of liability.

Complimentary Cover: IDI compliments your Property Insurance policy by covering your claim purely on the basis of the existence of the defect

 

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