Damp Proofing Guarantees
Timkon Services offer a 20 Year Guarantee Certificate for both Rising Damp Treatment & Timber Treatment and this can be insurance backed for a period of 10 Years. The benefit of our Guarantees may be assigned up to 3 months after completion of sale or new ownership following payment of the re-assignment fee. Thereafter the Guarantee will become null and void.
GPI INSURANCE EXPLANATORY NOTES
Have you ever wondered whether your guarantee will be honoured in the event your contractor ceased to trade?
Hopefully, your chosen contractor will always be there to respond to any problems that may arise over the period of their guarantee and meet the remedial costs accordingly. However, experience shows that contractors may fail for several reasons, principally financial failure, and will therefore be unable to honour their guarantee.
If you do not have insurance then you could incur substantial costs in the future if faults arise in the works and the original contractor has ceased to trade.
Who are GPI?
Guarantee Protection Insurance Ltd (GPI) is a UK based general insurer, which is authorised & regulated by the Financial Services Authority. With over 25 years’ experience GPI is a long term player in the UK Insurance Market, who are based in Lime Street in the heart of London’s insurance district.
GPI specialise in the provision of insurance backed guarantees, which is an insurance product specifically designed to protect consumers who find themselves in a situation such as that detailed above.
How it Works
If a defect covered by the contractor’s original written guarantee develops and the original company has ceased to trade, a GPI insurance policy will pay for another contractor to remedy the works. In simple terms GPI insures your guarantee.
The GPI insurance policy provides insurance cover which relates to the property rather than the owner which means if you sell your property the guarantee can be passed to the new owners subject to certain conditions.
What it Covers
GPI can offer insurance for guarantees issued on wood-boring beetle, wood rot, rising damp, replacement wall ties and structural waterproofing.
Making a Claim
Should you find yourself in the position of having to make a claim, you will be assisted by sympathetic and knowledgeable staff, which are trained to help you through an often stressful situation.
The Main Benefits of using GPI
A one of premium payment will protect your guarantee for 10 or up to 20 years
Purchasing GPI insurance may assist in the future sale of your property, providing the property purchaser with a guarantee from the contractor and additional insurance
GPI insurance is freely transferable to future owners should you sell your house (reassignment of the contractor’s guarantee may be necessary)
An Insurance policy is provided specifically for each individual property
GPI are a UK based insurance company, which is authorised and regulated by the Financial Services Authority (FSA)
Access to the Financial Ombudsman Service (FOS) & Financial Services Compensation Scheme (FSCS)
CONTACT US FOR MORE INFORMATION
If you are looking for more information about our damp proofing guarantees, don’t hesitate to get in touch. Call us on 01372 844534; you can also email us at [email protected]. Alternatively, you can fill out our online enquiry form and we will reply as soon as we can.