Why Choose The Garage Conversion Company? :: Insurance Backed Guarantees
Valuable consumer protection
An insurance backed guarantee (IBG) is a low cost, long term insurance policy, which provides valuable protection for consumers when undertaking home improvement projects. The principle of an insurance backed guarantee is to honour the terms of the written guarantee, originally issued by the Garage Conversion Company (GCC), where GCC has ceased to trade as defined within the policy document and is therefore unable to satisfy claims against that guarantee.
The Garage Conversion Company are happy to guarantee their work against defects in workmanship or materials for10 years. If a fault arises in the works, then GCC would normally honour their responsibilities by attending to the fault at no cost to you. However what happens if GCC has ceased to trade and is no longer able to attend. There can be no guarantee that any contractor will still be around years later to honour their contract with you.
What happens if I do not have Insurance Backing?
Hopefully, GCC will always be there to respond to any problems that may arise over the next 10 years and we would meet the remedial costs. However since none of us can read the future we cannot claim to always be here. If you do not have an Insurance Backed Guarantee and the unthinkable has happened for GCC then you may incur substantial costs in the future if faults do arise in the works.
What does an insurance backed guarantee cover?
If a fault is discovered in the original works after the Garage Conversion Company has ceased trading for particular reasons such as liquidation, receivership, administration or the winding up of the business owing to bankruptcy, state retirement or death of the principal(s) and GCC is unable to honour their guarantee then a claim should be intimated. The policyholder would be asked to complete a simple claim form and a report would be prepared by a builder to determine the cause of the problem. If a fault falls under the terms of the original contractors written guarantee then the Insurance Backed Guarantee would meet the reasonable cost of rectifying the defects up to a limit of the original contract price. On certain occasions, the insurance may also meet certain breaches in building regulations, although each policyholder will be provided with a policy summary and full policy of insurance.
What is a Policy Term?
The policy term given to the policyholder by the Garage Conversion Company is 10 years.
Who Protects Me?
The insurance is underwritten by Guarantee Protection Insurance Limited or Milburn Insurance Company Limited.