One way to safeguard yourself is by ensuring your builder offers an Insurance Backed Guarantee (IBG). But what exactly is an IBG, and why is it important?
What Is an Insurance Backed Guarantee?
An Insurance Backed Guarantee is a policy that provides protection in case your builder or tradesperson ceases trading, goes into liquidation, or is otherwise unable to honour their workmanship guarantee. Unlike a standard guarantee, which is only valid if the builder is still in business, an IBG ensures you remain covered even if the worst happens.
Why You Need an IBG for Building Work
1. Protection Beyond the Builder
A standard workmanship guarantee is great—but it relies on the builder being around to fix any issues. If they are no longer trading, you could be left footing the bill for repairs. An IBG ensures that an insurer steps in to cover defects within the agreed period.
2. Added Security for Large-Scale Projects
For significant projects like home extensions, loft conversions, or major renovations, you’re making a considerable investment. An IBG provides additional security, giving you confidence that your money is well spent.
3. Improves Resale Value of Your Property
If you plan to sell your home, an IBG can be a selling point. Potential buyers will appreciate the extra assurance that any covered work is protected.
How to Ensure You Get an Insurance Backed Guarantee
- Ask Your Builder Upfront – Before work begins, confirm whether they provide an IBG and request details of the policy.
- Check the Insurer’s Credentials – Ensure the guarantee is from a reputable provider.
- Read the Small Print – Understand what is and isn’t covered to avoid any surprises later.
Find Trusted Tradespeople with IBG Coverage
At the Association of Master Tradesmen, we connect you with reliable, vetted tradespeople who can provide insurance-backed guarantees on their work. Don’t take unnecessary risks when hiring a builder—post your job today and get competitive quotes from professionals you can trust.
Post your job today: www.mastertradesmen.co.uk
Call us 24/7: 0333 311 0032
Protect your home and your investment with the right tradesperson and an Insurance Backed Guarantee!
