Basement guarantees and insurance
What are the guarantees we offer?
There are lots of options regarding guarantees. Our approved contractors status means we can even offer insurance backed guarantees via TUG. This is an insurance backed guarantee company set up for the benefit of Triton Approved Contractors.
As the longest established guarantee company in the remedial industry, TUG has for over 30 years offered credible and valuable insurance backed guarantees to Triton’s approved contractor network.
TUG now offers a unique ‘Double Security’ guarantee in partnership with GPI, the leading provider of insurance in the damp proofing, timber preservation and waterproofing industry. For every contract where a TUG guarantee is issued, a 20 year (10 for below ground waterproofing) insurance policy from GPI will also be provided.
Other schemes are available as well.
How much does basement insurance cost?
Our insurance is comprehensive and it is correct as to the nature of the works we undertake. Many are not. We are covered for:
- Public Liability £2,000,000
- Employer Liability £10,000,000
- Product Liability £2,000,000
Our policy classification includes that of “Underpinning and Foundation Contractor” and states we can excavate to the required depths to do retrofit basements or digouts, basement excavation and basement construction. Also stated is damp-proofing and timber treatment contractor.
Many policies are incorrect in regards to the underpinning aspect, having restrictions in regards to the percentage of the contract value that is authorised in regards to underpinning, often as low as 5%. Our policy allows us to carry out stand-alone underpinning contracts.