Choosing which structural warranty provider to go with should not always be about price - the customer experience, knowledge and diligence of the provider and their technical surveying team can be invaluable and improve the quality of the build immeasurably.
With this in mind, would you be willing to take the risk of using an unrated insurer?
At Premier Guarantee we are all about reducing risk, which is one of the reasons we have a national network of trained surveyors to help you with your build personally, instead of relying on photographic evidence as some other warranty providers within the industry do.
We also only use ‘A’ rated insurers – AmTrust Europe and AXA Insurance UK Plc – for all our policies; providing you with the peace of mind that if any future claim needed to be made, the insurer would still be there to settle the problem.
A structural warranty is a 10 year insurance policy - it is not annually renewable like home insurance or car insurance. If you take out a structural warranty that is backed by an unrated insurer what would happen if that insurer did not exist in 5 years’ time? Whose responsibility would it be to resolve future claims? Most importantly, who would the home owner at the time approach?
A number of unrated insurers have gone into administration over the past few years. In November 2016, Gable Insurance AG (a Liechtenstein insurance company that provided private motor and commercial insurance for UK customers) went into liquidation. This followed a formal order that was issued to Gable on 7 September 2016 by the Liechtenstein Financial Market Authority (FMA) to stop writing insurance over concerns with Gable’s financial position. Gable was also placed into Special Administration by the FMA on 10 October 2016 to protect the interests of policyholders.
Do not take the risk. Speak to Premier Guarantee to arrange a structural warranty on your next development.