Are you a licensed builder who is building a house, or doing larger projects such as adding an extension, a mother-in-law cottage, or a pool? You need Builders Warranty insurance, to protect your customers.
Builders Warranty insurance covers your customers if they give you a deposit and you don’t start or finish the job; if something isn’t done to their satisfaction; or if you suffer insolvency or other personal tragedy that prevents you from completing the job. Dissatisfied customers can file claims directly against you, but in the unlikely event you can’t make good on your contract (by completing the work to their satisfaction) your customers will be able to recoup their deposit and other payments made.
Surprisingly, Builders Warranty also indirectly helps you grow your business! Your reputation is at stake every time you take on a new job. Offering your customers the knowledge that they are protected (since they may not know!), may help you win more bids, and become known as a builder with integrity.
You may not need Builders Warranty insurance for small jobs such as replacement of kitchen cabinets, but for jobs above specified dollar amounts, Builders Warranty insurance is mandatory.
Since the rules vary from state to state, don’t guess, and don’t take a chance! Consult with Nsure, and give your customers peace of mind knowing that in the unlikely event something should go wrong on their project, they are covered.