WD008-1117-V4 PS New Build 10 Residential Warranty for Self-Build (Evolution)-3

Policy SummaryHomeProof New Build 10 Residential Warranty forSelf-Build

Demands and needsThis structural warranty policy meets the demands and needs of a customer requiring protection in respect oflatent defects in the design, workmanship or materials which arise during the course of construction, renovation orconversion but are not discovered until after completion of the housing unit.By proceeding to purchase this policy, you will have come to your own decision that this particular policy meetsyour demands and needs.Summary of coverThe following provides a summary of the significant features, benefits and limitations of the cover provided by theAedis Warranties Ltd HomeProof New Build 10 Residential Warranty for Self-Build. It does not contain the full termsand conditions of the cover; these can be found in the policy document, a copy of which is available on request.This summary is provided for information only and does not form part of your insurance contract.Type of insurance and coverThis is a structural defects insurance policy for new builds or conversions for private purchase. This policy is onlyavailable to those policyholders who are intending to use the housing unit as their main place of residence for aminimum of 12 months on completion.This cover is different to that provided by a standard Buildings and Contents Insurance.The standard duration period of this policy is 10 years from the date specified in the Insurance Certificate.The Aedis Warranties Ltd HomeProof New Build 10 Residential Warranty for Self-Build is a structural warrantyunderwritten by Evolution Insurance Company Limited. Aedis Warranties Ltd act as underwriting agents andcoverholder for the insurers and are authorised and regulated by the Financial Conduct Authority (Firm referencenumber 622190).Site Audit SurveyorsCover under the Aedis Warranties Ltd HomeProof New Build 10 Residential Warranty for Self-Build is only providedafter a satisfactory technical audit has been undertaken. This is known as the Site Audit Survey and is undertakenby the site audit surveyor.Inspections are undertaken to satisfy the insurer that the housing unit to be insured represents a normal risk forinsurance under the Aedis Warranties Ltd HomeProof New Build 10 Residential Warranty for Self-Build. It shouldnot be inferred that the inspections are for any other purpose.POLICY SUMMARY | HOMEPROOF NEW BUILD 10 RESIDENTIAL WARRANTY FOR SELF-BUILD Page 2 of 6

Significant features and benefitsThe policy includes the following features and benefits which are explained in detail in the Policy Document.Structural insurance from practical completionUntil the 10th anniversary of the effective date, the property suffers damage caused by a defect.Cover applies to:• Reasonable costs of a complete or partial rebuilding or rectifying work to the housing unit, provided always that the cost does not exceed the reasonable cost of rebuilding each housing unit to its origination specification.• Reasonable costs of rectifying any present or imminent danger to the physical health and safety of the occupants caused by the developer’s failure to comply with the requirements of the building regulations.Contaminated land coverUntil the 10th anniversary of the effective date.Contamination of land cover applies to the reasonable costs for investigating, removing, treating or containingcontaminants in the ground provided that:• The contaminants were known to be harmful and known to exist on the site at the time the ‘Notice to Build’ was deposited with the local authority.• The removal or containment of the known contaminants was part of the original site preparation scheme.• Where the Government Department or local authority has issued you with a Statutory Notice requiring you to remove or contain the contaminants or the insurer considers that you are responsible for the removal or containment of the contaminants.All of the above is subject to an excess which is declared on the Insurance Certificate but is usually £1,000 for eachand every claim.Additional extension coverIn addition, in the event of a claim the underwriter will, with its written consent, pay within the limit of indemnity:• Additional costs;• Alternative accommodation costs;• Fees;• Removal of debris.All are more fully defined in the Policy Document.IndexationThe limit of indemnity and excess are increased in line with the House Re-building Cost Index prepared by theRoyal Institute of Chartered Surveyors on each anniversary date of the commencement of the period of insurance.Significant and unusual exclusions/limitationsThe policy does not provide cover against every event or circumstance. The following is a summary of the mainexclusions that apply:• Alterations: Loss or damage due to or arising from any addition, extension, alteration or modification to the housing unit after the issue of the Insurance Certificate.POLICY SUMMARY | HOMEPROOF NEW BUILD 10 RESIDENTIAL WARRANTY FOR SELF-BUILD Page 3 of 6

• Defects in existing works: Loss or damage due to or arising out of any defect in the design, workmanship, materials or components of the housing unit that was installed or constructed prior to the conversion, refurbishment or renovation works that are the subject of this insurance.• Humidity: Loss or damage caused by or consequent upon humidity in the housing unit that is not a direct result of a defect.• Maintenance and use: Inadequate maintenance of and/or abnormal use of the housing unit or the imposition of any load greater than that for which, and/or the use of for any purpose other than for which the housing unit was designed.• Prior knowledge: Anything which you were aware or should have been aware of prior to purchasing the housing unit.• Settlement: Loss or damage caused by or consequent upon normal settlement or bedding down of the housing unit.• Special perils: Loss or damage caused by or consequent upon fire, lighting, explosion, typhoon, hurricane, cyclone, volcanic eruption, earthquake, storm, tempest, flood, subterranean fire or other convulsion of nature, aircraft or other aerial devices or articles dropping therefrom, escape of water from tanks, apparatus or pipes, malicious persons, theft, attempted theft, impact or any accidental cause.• Subsidence: Loss or damage caused by or consequent upon subsidence, heave or landslip unless such a loss or damage is a result of a defect in design, workmanship, materials or components of the structure of the housing unit.• Wear and tear: Damage resulting from wear and tear, normal dampness, condensation, shrinkage or normal deterioration (whether caused by neglect or otherwise).A full list of all the exclusions can be found in the HomeProof New Build 10 Residential Warranty for Self-BuildPolicy Document.Financial limitsThe maximum amount the insurer will pay for any claim under the cover provided by the policy is:Structural insurance from practical completionThe rebuild costs of the property or £2,000,000 (whichever is the lesser amount).Contaminated land coverThe rebuild costs of the property or £1,000,000 (whichever is the lesser amount).Cancellation of insuranceThe policyholder has the right to cancel this policy within 14 days of purchase or receiving the HomeProof NewBuild 10 Residential Warranty for Self-Build policy documents (whichever is the later).If the policyholder wishes to cancel they must do so in writing, returning any relevant Insurance Certificate.Full details of the policyholder’s right of cancellation can be found in the Aedis Warranties Ltd HomeProof NewBuild 10 Residential Warranty for Self-Build Policy Document.POLICY SUMMARY | HOMEPROOF NEW BUILD 10 RESIDENTIAL WARRANTY FOR SELF-BUILD Page 4 of 6

Making a claimAll claims we be handled fairly and promptly and act on behalf of the insurer in negotiating and settling claims.To make a claim, please contact:Aedis Warranties LtdClaims Department1 Pioneer CourtMorton Palms Business ParkDarlingtonDL1 4WDEmail: [email protected] aim to provide the policyholder with a high level of customer service at all times, but if they are not satisfiedthey should contact:The Complaints OfficerAedis Warranties Ltd1 Pioneer CourtMorton Palms Business ParkDarlingtonDL1 4WDTelephone: 0800 161 5854Email: [email protected] the Policyholder is not satisfied with the way their complaint has been handled, they may refer the matter to theFinancial Ombudsman Service (except in the case of commercial customers with a group annual turnover of £1m ormore, or trustees with a net asset value of £1m or more) at the following address: Financial Ombudsman Service,Exchange Tower, London, E14 9SR.CompensationAedis Warranties Ltd are covered by the Financial Services Compensation Scheme (FSCS).You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the typeof insurance and the circumstances of the claim.Further information about compensation scheme arrangements is available from the FSCS website atwww.fscs.org.uk or by contacting the FSCS directly on 0800 678 1100.POLICY SUMMARY | HOMEPROOF NEW BUILD 10 RESIDENTIAL WARRANTY FOR SELF-BUILD Page 5 of 6

visit www.aedis.com call 0800 161 5854 email [email protected] Warranties Ltd trading as Aedis.Authorised and regulated by the Financial Conduct Authority. Firm Reference Number: 622190.Registered in England & Wales No. 08905383. Registered office: 1 Pioneer Court, Morton Palms Business Park, Darlington, DL1 4WD.WD008-1117-V4