Quality of Work Concerns and Residential Construction Insurance in New Jersey

 

Self-Insurance
Residential Construction Insurance New Jersey

While many contractors may envision working on large construction projects such as highways, bridges, malls, and office towers, to name a few, when they think of the legal issues that may arise when it comes to construction law, many owners find that they must deal just as frequently with the legal, financial and emotional issues arising out of performing smaller jobs, such as home repairs and residential development

 

In many cases, homeowners and landlords can be very difficult to deal with because they have such a vested interest in the work being performed. After all, they don’t wish to see any harm coming to the property due to their hiring the wrong person to perform renovations to their property. With such concerns to consider, residential construction insurance in New Jersey is one way to protect a business’s interests when it comes to dealing with unsatisfied clients.

 

The construction of a new house and other residential issues that may come up during the process of negotiations don’t differ much from those mega million dollar projects. Through statutes and regulations, New Jersey has adopted numerous protections for homebuyers and homeowners who desire to either have a house built or have renovation performed on an existing home. There are laws that have been adopted for the protection of residential consumers when contractors don’t measure up when it comes to the services they provide.

 

What is the New Home Warranty and Builders’ Registration Act?

 

The New Jersey legislation has adopted the New Home Warranty and Builders’ Registration Act, which provides a level of protection for people having homes built for them. It contains provisions making contractors responsible and must remain responsive to any problems that may arise even after the building is finished and perhaps sold.

 

A warranty must be issued by all builders of new construction projects, (this includes condominiums and cooperatives), which will insure certain standards of quality for various components of a new home. It can protect an individual from faulty workmanship for up to ten years for certain defects that may cause major damage to the structure of the building, which would include up to two years protection from any defects resulting from faulty installation of electrical, plumbing, ventilation and heating systems that could affect the use of the home for residential purposes.

 

With this in mind contractors should examine their current policy for residential construction insurance in New Jersey and see if it is providing adequate coverage for any and all concerns.

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