Guarantee Protection Insurance
An IBG Policy for Rising Damp contracts should include chemical injection, electro osmosis and vertical damproofing.
Damp Solutions UK Guarantees are backed by UK Insurer Construction Guarantee Solutions Ltd and Guarantee Protection Insurance Ltd …taking the gamble out of choosing a specialist contractor for all your remedial and waterproofing needs.
Choosing a contractor purely based on the cheapest quotation and the length of their own guarantee may not be your best option. It is important to ask whether your contractor provide you with assurances that their own guarantee will be honoured by a reputable UK based insurance company in the event that they cease trading?
An Insurance Backed Guarantee (IBG) is a low cost, long term insurance policy, which provides valuable protection for consumers when undertaking home improvements projects. The principle of an Insurance Backed Guarantee is to honour the terms of the written guarantee, originally issued by the installing contractor, where the contractor has ceased to trade as defined within the policy document and is therefore unable to satisfy claims against the guarantee.
The following IBG products are currently available:
Description: IBG Policy for Rising Damp contracts – this includes chemical injection, electro osmosis and vertical damproofing.
The purpose of an IBG is to provide insurance backing to a written workmanship and/or material guarantee, given by a building contractor to a domestic or commercial customer (the owner of the insured works).
Such written guarantees may be given in good faith, by well-meaning contractors; however, even the most prudent and financially solvent contractors are unable to guarantee their solvency -in these volatile times- to the extent that they will be able to rectify defects for the lifetime of those guarantees.
As such, responsible contractors, trade associations and competent person schemes across the UK insist that customers are provided with an IBG in order to ensure that recourse to the guarantee is possible, even in the event that the original contractor has ceased to trade.
When quoting for works, your GPI approved contractor will provide you with a quotation for a GPI Insurance Backed Guarantee.
The quotation shall also set out the one-off insurance premium payable.
If you wish to proceed with the purchase of an Insurance Backed Guarantee, you will simply confirm this to your chosen GPI approved contractor and pay the appropriate premium.
Once the works are fully completed to your satisfaction you will be provided with a written guarantee from your contractor and Guarantee Protection Insurance Limited will forward you your insurance policy documentation for your retention.
This is the product upon which GPI was initially founded. We believe that GPI’s experience and knowledge in this field is unsurpassed in the UK.
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We are proud members of the Property Care Association. All our friendly Staff are fully trained to the highest standards in damp proofing treatments.
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