Product-Only Warranties or Insurance Guarantees?
In line with most manufacturers, Liquasil products come with product warranties of up to 20 years, depending on the system being installed.
But is a product-only warranty enough for your or your clients needs?
If you require something more substantial, for example, an insurance backed guarantee or a latent defects, full insurance guarantee, these may be available via your Liquasil Approved Installer at extra cost.
It’s your choice and for this reason, we have highlighted the options for you on this page.
In 2018, the construction insurance guarantees market underwent significant change, with a number of insurers withdrawing from the sector.
Early in 2020, there was a further reduction in the number of rated insurers able to provide insurance guarantees – and at the time of writing, only one A Rated insurer is writing new policies, which means that they are likely to be expensive.
We are happy to discuss options with installers, specifiers and end users if required, but ultimately, we will refer anything we consider to be “Professional Advice” to a specialist construction industry broker, authorised and regulated by the Financial Conduct Authority.
Latent Defects Insurance Guarantee
An optional 12 year Latent Defects, full insurance guarantee may be available for Liquasil systems that have been installed by a Liquasil Approve Installer.
The policy provides the greatest level of cover available and is essentially a single-point guarantee provided over and above the limited product-only warranty.
Here’s how it works;
Your installer will be responsible for any remedial works that might be required under guarantee, for the first two years from the date of installation.
After two years, liability for warranty repairs transfers to the insurer who will arrange any necessary repairs at their cost.
The whole project is covered, so you won’t have to worry about the cost of safe access, labour or materials.
As with any insurance policy, an excess is payable and we understand this to be £1000 per claim at the time of writing.
A Latent Defects Insurance Guarantee can also include cover for Professional Design.
If you are a professional specifier, we’ll be happy to conduct one of our Accredited CPD training sessions for you – and explain our unique roof coatings and available warranties in more detail.
Latent Defects Insurance Guarantees are issued via a leading construction sector warranty insurance broker, who having worked with Liquasil and its approved installer network for a number of years now, understands the level of cover that is required.
Only pre-approved Liquasil installers are able to provide the 12 year Latent Defects Insurance Guarantee for Liquasil installations.
Policy costs are based on a percentage of the contract value, subject to a minimum £1000.
Note that it might not be worth insuring lower value installations, but we are happy to provide assistance in determining this.
This information is intended only as a summary of the benefits of the insurance policy.
If you are considering specifying a Latent Defects Insurance Guarantee, we can refer you to a specialist construction warranty insurer who will be able to provide a specimen poicy for your reference.