Purchase your premium apartment in the only Norwest development to have secured Latent Defects Insurance (LDI)
We are proud to announce that following a rigorous auditing process, Infinity Park have now been approved for this game-changing insurance policy. Recently introduced in Australia by Resilience Insurance, LDI insures property owners against structural defects for 10 years post building completion. The insurance gives off-the-plan purchasers greater certainty that Infinity Park’s developer Haitchin are taking extra steps to safeguard your future.
LDI benefits at a glance
– 10 Year Structural Warranty.
– Full value reinstatement cover.
– Covers defects in workmanship and materials.
– Covers cost of rehousing residents during defect rectification.
Frequently asked questions
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What is Latent Defects Insurance?
The NSW Government recently introduced legislation that encourages developers/builders to insure a property for the first 10 years of its building life.
Who benefits from Latent Defects Insurance?
Latent Defects Insurance is voluntary and only offered to developers and builders deemed trustworthy by the insurance industry. Latent Defects Insurance covers the property owner for a period of 10 years. The beneficiaries of this insurance are the individual apartment owners.
Why is Latent Defects Insurance important?
The main purpose of Latent Defects Insurance coverage is to provide consumers with the ability to claim the costs of rectification of structural defects directly with the insurer.
What is the NSW Government objective for the introduction of Latent Defects Insurance?
Latent Defects Insurance is viewed by the NSW Government as another step in building back trust. This insurance is only available to developers and builders who demonstrate a commitment to their product and agree to a strict regime of independent inspections during critical phases of construction of the project.
ARTISTS IMPRESSION – INFINITY PARK
Why the NSW building commissioner regards LDI as an essential ‘must have’
Latent Defects Insurance has been identified by the NSW Building Commissioner, David Chandler as one of the essential “must-haves” for property developers that aims to offer consumer protection by providing consumers with the ability to claim the costs of defect rectification of structural defects directly to the insurer.
Learn more about Haitchin’s quality assurance initiative
Latent Defects Insurance is just one of many steps Haitchin have undertaken to safeguard purchasers at Infinity Park and ensure the highest benchmarks in engineering and construction quality are met.
Visit our Display Centre to hear about our initiatives and how they can benefit you.
About the insurer
Latent Defects Insurance has been actively utilised in Europe for over 70 years. Resilience Insurance is the first Australian specialist insurance provider, backed by a Standard & Poor’s (S&P) A+ Institutional underwriter to offer LDI. They are a company dedicated to supporting building reform and generational change for the benefit of the industry, and to improve resilience in our built environment, the purchaser, and most importantly, for future generations.
