Protecting The Investment You Make In Your Home With Guarantee Insurance

For many homeowners, a house is never a completely permanent structure. Sure, as long as it remains in your name and it is built to stand the test of time, you can always rely on the property to be there for you — it’s the singular place you can come home to, wherever in the world you may have come from. However, this doesn’t mean that changes cannot be made to the house as the years pass by.

Growing along with the family

When you first moved into the house, the space may have been just right for you and your spouse, and perhaps one or two children that may come in the future. But throughout the years, as the children did arrive, extended families grew bigger, and your daily routines changed, adjustments had to be made to ensure that the house could meet the entire family’s needs.

Perhaps you needed to add two more bedrooms. The kitchen had to be expanded to accommodate the new, larger refrigerator and stove that your wife needed to beef up her cooking skills and feed your growing brood (and many dreamy, memorable meals were indeed whipped up in that new kitchen through the years). As your children became old enough to get their driver’s licences, your garage needed to be fixed up to house their first secondhand cars. And with the passage of time, many other features of your home had work done, to improve their function or to enhance the appearance of the property (examples would be your roofing, the double glazed doors and windows, and the wooden outbuildings).

A solid investment

Each time you begin a home improvement project, you sign an agreement with the contractor and trust that they will see the entire endeavor through to completion, and you expect to be fully satisfied with the work. After all, such projects don’t come cheap — you are making a significant investment in the condition of your property, and anticipate the improvements to be up to par and to last.

However, there may be instances that could cause you to lose the hard-earned money you set aside for the project. The company you paid a deposit to could suddenly face bankruptcy or liquidation. The principal may have retired, or suddenly passed away, before the work could be finished. In these cases, the company will now cease trading, and your deposit will be lost.

To prevent this from happening, you need to be vigilant about insuring your deposit with guarantee insurance so that you can protect yourself from unforeseeable circumstances. Typically, the tradesman you hire bears the responsibility of protecting your deposit, but not all contractors will have a reliable system of putting this into place. So it’s to your best interest that you make sure your deposit is insured before allowing work to commence on your property.

With guarantee insurance, you can be assured that your money is well spent on quality home improvements that are performed to your satisfaction, and that your house receives the renovations or expansions it needs to serve your family well.