An Insurance Backed Guarantee (IBG) is a policy that provides additional assurance in the case that a contractor or builder ceases operations after completing their work. The IBG upholds the original warranty given by the installer for up to 12 years. Typically, an IBG covers various building components such as basements, tanking and waterproofing systems, piling systems, external cladding, insulation, and roofing systems, whether flat or otherwise.
The IBG allows the contractor to meet the contractual requirements set by building owners and main contractors, offering essential protection and security, and it can be transferred to subsequent owners.
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