Cover provided by the Guarantee
The total claims under a Master Build Multi-Unit 10-Year Guarantee may be up to the value of the build cost or as follows, whichever is less:
- $200,000 for a 1-bed unit/studio
- $225,000 for a 2-bed unit
- $250,000 for a 3-bed unit.
Cover includes:
- Materials and workmanship: for 2 years after the date of practical completion.
- Structural defects: for 10 years from the acceptance date of the Guarantee.
Materials and workmanship
We will assist if your builder is unwilling or unable to remedy issues with the build as outlined in your contract. You remain protected even if your builder stops trading.
Issues may include where the builder has not built something in the way it was specified, or where defects have not been addressed.
You have cover for 2 years after the date practical completion was reached. The builder must forward us the notice of practical completion.
Final inspections and practical completion
Cover under New Zealand legislation
Usually a legal process, and only provided if the building company is still trading:
- Building Act: 1-year implied warranty
- Consumer Guarantees Act: possible limited cover.
Structural defects
We will assist if the work carried out by your builder results in structural defects to your home. You remain protected even if your builder stops trading.
Structural defects include failure of load-bearing functions and damage which makes your home unsafe, unsanitary, or uninhabitable.
You have cover for 10 years from the acceptance date of the Guarantee.
Cover under New Zealand legislation
Usually a legal process, and only provided if the building company is still trading:
- Building Act: 10 years from completion for specific items.
Make a claim
If you need to make a claim under a guarantee, our team are ready to guide you through the process.
Make a claim
Cost of the Guarantee
Pricing of the Master Build Multi-Unit 10-Year Guarantee is tiered, so you get appropriate coverage for the value of the building project.
Costs are often covered upfront by your builder or developer but may be included in the total price of the property.
| $30,000 - $200,000 |
$600 |
| $200,001 - $400,000 |
$840 |
| $400,001 - $600,000 |
$1,280 |
| $600,001 - $800,000 |
$1,560 |
| $800,001 - $1m |
$1,760 |
| $1m+ |
Cover not available |
Ask for a Guarantee
A Master Build Multi-Unit 10-Year Guarantee is not automatically provided by using a Master Builders member. The Guarantee is separate from a building contract and must be applied for and approved before building starts.
Ask your builder or developer if a Master Build Multi-Unit 10-Year Guarantee is available for your home.
For more information on our guarantees, talk with your Master Builder or one of our team.
Contact us