The online tool is available for property developers and main contractors, as well as cost consultants.

It considers the project’s build type, stage of works, number of units, sum insured and GDV to provide an instant guide price on forthcoming structural warranty requirements.

The calculator shares indicative costs from A-rated insurers and also offers further insights into key considerations to keep in mind when arranging the next policy.

Jack Bristow, managing director at J3 Advisory, said: “An online calculator can never replace that conversation with an adviser, but it will allow property people to gain a snapshot guide price, which will prove invaluable insight during those early stage discussions on new sites and prospective sites.”

The launch of the online calculator is part of J3’s strategy of investing in technology to improve efficiency and transparency.

The firm is also looking to launch an end-to-end platform that will allow property professionals to track the status of their cases, from the submission of warranty enquiry to the issuance of final certificates.