As there a no personal or directors guarantees obtained under the provision of guarantee insurance the answer is no. However if the consumer is not issued with a full written contract, obtained planning permission (if applicable) and be given a policy they will not be covered by insurance, so the consumer themselves may approach the building firm for compensation.
Retrospective insurance can be provided.
Yes, we require a copy of the contractors guarantee as the Insurance Backed Guarantee mirrors the guarantee originally issued by the contractor.
Commercial insurance can be obtained but the premium is calculated as a percentage of the contract – ranging from 1.5 % – at point of application.
Yes this is deemed commercial as no one person residing in the property would necessarily be responsible for the upkeep of certain aspects of the building (hence the management company handling repairs etc)
The policy will only cover the consumer against cessation of business. If the installers accreditation for gas/electrics expires, under the original guarantee (if covered) they are still obligated to undertake any remedial works. In the absence of the suitable accreditation(s) they will have to subcontract that work to a third party at their own expense.
We can cover all of the above apart from, Damp Proofing, General Electrical Works (unless part of the installation of a product i.e. solar), internal / external decorating. Landscaping includes decking, fencing and patio/paving. The policy will also cover wooden outbuildings i.e garden office room.