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New Insurance Backed Guarantee’s For Resin Driveways

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Insurance Backed Guarantees and Resin Driveways

What is an insurance backed guarantee (IBG)?

IBG’s offer useful protection. They can be given by a contractor in order to provide peace of mind for the customer. They offer external insurance in the event that the contractor ceases trading. If, (due to the liquidation, receivership, administration or winding up of your business due to bankruptcy, state retirement, death or the company just no longer exists), faults appear, they will be covered by the IBG.

Why are IBG’s useful?

Outdoor home improvements are increasingly popular and are one of the safest forms of financial investments. However there is something that homeowners sometimes overlook – redundant guarantees. Contractors and companies can offer guarantees for 18 or even 25 years. It is worth nothing however, if the contractor were to cease trading and close down, that guarantee is worthless. IBG’s honour bona- fide claims under contractors original guarantees.

The last thing you want to happen to your client is for you to ‘shut up shop’ for whatever reason and your customer be left with a faulty project and a guarantee of absolutely no value. IBG’s eliminate the risk of this happening and so are a highly attractive proposition.

IBG’s can be as generic or as bespoke as you wish.

How can IBG’s help your resin driveway business be successful?

They can help your business grow as customers look for the most superior guarantees possible for their resin driveways. IBG’s are the ultimate insurance package for resin driveways and offer valuable protection for contractors and their customers. IBG’s display confidence that the job will be done properly and right. They are therefore used as a unique selling point as customers choose to go with resin driveway company’s that have IBG’s over a less superior one that does not.

Insurance companies offer IBG’s to contractors who they have thoroughly analysed to be incredibly low risk. Insurance companies carry out heavy financial and legal checks on potential companies in addition to receiving positive references and viewing works carried out. Contractors have to satisfy the high quality standards of the insurer.

IBG’s set you apart from your resin competitors that cannot offer such a guarantees. They demonstrate the quality of your materials/workmanship and also indicate to customers and investors that you are a stable business. This easily differentiates you from rogue traders or ‘cowboys’ that often prowl the resin bound industry. Customers will be more likely to have a resin drives installed with companies who have IBG’s over other contractors that lack the facility. They are a huge selling point as consumers choose driveway companies they can trust.

Another point you may not think about is the fact that if you are looking to tender and win commercial/larger projects, you will need IBG’s, as they are normally a requirement.

How can I get IBG’s?

Through The Resin Mill as a part of our Approved Contractor Scheme, you have access to the best IBG in the industry. If you would like details on our IBG partners and our Approved Contractor scheme please get in contact with us on 01484 400 855 or visit our Approved Contractor page to find out more. Always be sure to read the small print and check the T’s & C’s. The Resin Mill take no liability for IBG’s and always recommend you do your own research.