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What is an Insurance Backed Guarantee (IBG) and why do you need one?

17/08/2021

As a member of the Property Care Association (PCA) Inspectas can provide separately underwritten Insurance Backed Guarantees (IBG) that sit in conjunction with our standard 10-year warranty.

These IBGs give our clients additional confidence along with satisfying the requirements of mortgage lenders who may require an IBG to be in place when securing lending on a property or commercial development.

Inspectas offer the following Insurance Backed Guarantees:

KNOT New:

Treatment, Monitoring and Insurance Backed Guarantee For 10 Years from Day One Of The Management Plan

Provides cover from the contract start date for a full 10 years Covers the treatment (3 years), monitoring (2 years), and 5 years post completion

Should Inspectas cease trading at any point throughout the contract or warranty period, the guarantee will allow for an alternative PCA contractor to pick up the works where Inspectas left off

This option provides cover from Day One and provides peace of mind should you be selling the property in question and need to satisfy the mortgage lender that all aspects of the work are covered from the onset of the management plan. This option is only available on herbicidal treatment management plans.

KNOT Express:

Post Completion 10 Year Insurance Backed Guarantee

Provides cover for a full 10 years once the programme has finished and Inspectas have issued the completion certificate

Includes herbicide, screening/sifting, rhizome fragmentation, bund/stockpiling, excavation and removal to landfill, root barrier – vertical and burial/cell formation

The IBG provides peace of mind that any re-growth of Japanese Knotweed will be dealt with during the 10-year guarantee period even in the unlikely event of Inspectas ceasing to trade

This standard 10-year IBG protects against any regrowth post completion of the management plan and as a full member of the PCA we are able to offer our clients the reassurance that comes with the professionalism our team delivers, and in the unlikely case we were not able to fulfil our responsibilities the Insurance Backed Guarantee will cover the eventuality.

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