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Benefits Of Insurance Backed Guarantees
For any transaction that involves money, extra care should always be taken (unless money is no object to you).
You can be very meticulous with your purchases — take time to review everything, comparing products and services before finally determining which ones to direct your money toward, and keep all your receipts.
These aren’t all you can do, though, especially for big money transactions such as hiring services for home improvement. You can look at the demonstration of commitment of your service provider in delivering the quality of work you require, and in assuring you that even if something unfortunate happens (like they go bankrupt and need to shut their operations down), your deposit will be returned to you. Therefore, if you’re having work done on your property and you want to protect your investment the best way you possibly can, make sure that you hire a building company that offers an insurance backed guarantee.
What are the established benefits of such provisions, anyway? First of all, you can be sure that the project you hired the company for will be accomplished according to the standards that you specifically demand.
Secondly, should the building company cease to trade for whatever reason and it find itself no longer able to deliver the workmanship or product to you, the insurance company will arrange the completion of the contract for you. You don’t have to worry about your hard-earned money just being lost forever.
And lastly, throughout the duration of the specified guarantee period (usually up to 10 years), should certain aspects of the completed work break down, you can have them repaired at no additional cost to you. So again, it’s a protection for your investment.
Now, from the service provider’s end, insurance backed guarantees are a great way to display confidence that they will get the job done, and done right, for no company wants to be demanded to make a duplicate effort — that’s just going to be a waste of time and money. Likewise, insurance backed guarantees are an indication of competitiveness in the industry because all the big companies do not think twice about investing in insurance to uphold their positive reputation. Lastly, but also worth noting, insurance backed guarantees can serve as a strong marketing tool for the business because consumers these days would always choose a service provider they know they can trust. And insurance backed guarantees are the business’s way of saying that you can hold them accountable.