Stormont Employment Minister Sir Reg Empey has officially launched the Federation of Master Builders (FMB) 10 year insurance policy for new build homes and self builds.

The policies, named 'New Home 10' and 'Self Build 10', are in addition to the two, six and 10 year insurance policies for renovation works that FMB MasterBond already offers to members and their clients through Zurich Insurance.

In these difficult times for builders, the FMB said it hopes this new product will help stimulate work in the construction sector by giving consumers greater confidence in the building work of FMB MasterBond members, all of whom are vetted and have their work inspected on a regular basis.

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Sir Reg said: "I congratulate the FMB for introducing this innovative insurance warranty for new build houses. Such a measure will help stimulate residential construction during the recession, while at the same time providing welcome reassurance for new build home owners."

Maire Devlin, Director FMB Northern Ireland, said: "This is an exciting year for the FMB Northern Ireland; not only are we trail blazing with the launch of the new FMB MasterBond 10 Year insurance but we are also celebrating the 21st anniversary of FMB in Northern Ireland.

"It is a great commendation on the part of FMB MasterBond members that one of the world’s largest insurers, Zurich, wants to insure their work."

David Hill, Director FMB MasterBond, said: "Building your own home can be nerve-racking enough without having to worry about the quality of materials and workmanship.

"This insurance policy takes away a lot of the stress so self-builder and property developers alike can enjoy the adventure of building a new home."

(PR/JM)