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The Master Build Guarantee usually costs less than 1% of the total build cost.

The cost of our Guarantee will reflect the cost of your build. You’ll also pay less if you opt out of Loss of Deposit, Non-Completion and Remedial Cover.

The Master Build Ten-Year Multi Unit Guarantee is tailored to meet your needs. Therefore, it is important to read and understand what you are covered for.

The maximum cover for all claims throughout the life of a Guarantee is the total build cost of the unit or;

• $200,000 1 bed/studio
• $225,000 2 bed
• $250,000 3 bed
• whichever is less

 

Our Materials and Workmanship cover protects the purchaser of the unit if there is a problem with the expected standard of the work carried out by the builder or with the materials that have been used in the building work.

This includes where the builder has failed to:
• comply with your Building Contract and the building consent; or
• follow relevant building trade practices and standards that were in place when your building consent was issued; or
• comply with any relevant laws that apply to the building work; or
• comply with any relevant instructions or recommendations by the manufacturer or supplier of any materials used in the building work that were in place at the time the material was installed or used.

 

You are covered for the materials used in your building work if they have not performed according to recognised trade practice or performance expectations. If the materials come with a manufacturer or supplier’s warranty or guarantee, you need to claim under that warranty or guarantee first.

 

It is important to read the Guarantee Terms and Conditions and understand what you are covered for.

Cover for structural defects protects you if an issue with the expected standard of the work carried out by your builder results in Structural Defects to your home, including a problem with the weathertightness of your home (Rot and Fungal Decay).

Structural Defects include damage which makes your home unsafe, unsanitary or uninhabitable.

To be covered for Rot and Fungal Decay, the design, materials and construction of your home need to achieve a score of 12 or less in the “Building envelope risk matrix” at the time the building consent was issued. The building envelope risk matrix is in the Ministry of Business, Innovation and Employment’s Acceptable Solution E2/AS1, which can be found on www.building.govt.nz.

• the building work in the claim does not have the required building consents;
• it does not comply with the Building Code or any building consent documents.