Urban Property Group is proud to be the first developer in Australia to secure Latent Defects Insurance. Enjoy 10 year Latent Defects Insurance on your new home.
This is in addition to Urban Property Group’s iCIRT rating, demonstrating their commitment to the quality of their developments, so that buyers have peace of mind beyond the point of purchase.
Latent Defects Insurance
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 give the owners of a new building peace of mind. Should the building suffer damage as a result of a defect in design, materials or workmanship in the building’s structure a claim can be lodged by your owners’ corporation/strata 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.
Urban Property Group invested in change for the better
We are proud to be the first Developer/Builder in Australia to act on the governments call to action and take up Latent Defects Insurance. We believe Latent Defects Insurance will be market driven by customers looking for developers and builders to stand by their products and protect their customers from the risks of defects. Our customer first philosophy to development makes Latent Defects Insurance an important addition to our development product.
iCIRT Rating
What is an iCIRT rating?
The NSW Government has introduced a world-leading independent rating initiative to help purchasers identify trusted players in the Construction industry.
What is the NSW Government objective for this initiative?
The iCIRT rating initiative is helping to reform the building industry by identifying trustworthy professionals who continuously lift industry standards and rebuild public confidence in the residential apartment industry. Customers have the benefit of independent assessment that find trusted, rated developer and builders who demonstrate they have the capital, experience and capability to deliver quality apartments.
Why is an iCIRT Rating important?
Ratings give customers the power of choice when buying an off-the plan apartment and allow customers to make informed decisions with confidence.
Urban Property Group, a trustworthy professional
We are proud to be a leading developer and builder who has been independently rated by Equifax Independent Construction Industry Rating Tool (iCIRT). By participating in an open, transparent and auditable process we have tested our capability, integrity and reputation and validated our proven track record as a trustworthy professional.
Enquire Now
Display Suite Now Open
Display suite open by appointment 7 days
66 Talavera Rd Macquarie Park
This website is for information purposes only and while reasonable care has been taken in its preparation, the Vendor or any agent does not guarantee or warrant or represent the accuracy, reliability, completeness or currency of the information or its usefulness in achieving any purpose. Any prices, dimensions, layout, design features, furniture, views, areas, plans, photographs and artist impressions are for presentation purposes and are indicative only. They should not be relied upon as an accurate representation of the final product. Any such information may change without notice at the Vendor’s absolute discretion. Interested parties are responsible for assessing the relevance and accuracy of its content and should make their own enquiries and seek independent advice before acting. The Vendor will not be liable for any loss, damage, cost or expense incurred or arising by reason of any person using or relying on this document. This website is not an offer to sell nor does it form part of any contract of sale.
