Finance
All About Insurance Backed Guarantees
Insurance Backed Guarantees

Insurance Backed Guarantees (IBG’s) are primarily for customer confidence. IBG’s hold a strong position in the construction and development sectors, frequently implemented within both standard and modern production processes.

 

With this type of insurance policy, the contractors’ customers will be reassured that they are financially safe if your company ceases to trade, since your insurer will acknowledge any bona-fide claims of the original guarantee for the rest of the period.

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If your development has a certain feature that could be considered as a high risk, such as a flat roof or basement, various warranty providers will require Insurance Backed Guarantees to be provided by the contractor undertaking these works. Whether you’re a contractor undertaking this work, or a developer who is required to provide an IBG, we can guide you through the process involved in obtaining one.

Compariqo can find an IBG policy to insure the standard of your work when building high risk features such as flat roofs or basements. By obtaining an IBG, you are providing yourself and your customers access to the following benefits:

  • Protection for both you and your clients in the event that your company ceases to trade
  • Raises consumer confidence in the knowledge that they are protected
  • Demonstrates the commitment you provide to your clients on the quality of your work
  • Displays confidence that you will get the job done and done properly
  • Tells your customers that you are accountable for your work
  • Upholds a positive reputation for your company´s brand

If you want to provide valuable consumer protection for your clients and increase consumer confidence in the delivery of your work, contact Compariqo to find you the best deal on an IBG.

Contact us and get your quote today.

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