Show me yours… and I will show you mine…
Every year I have a moan about warranties so let’s get it over with.
We still have companies that on their website state that they have insurance covered by £5 million pounds worth of PI insurance with Lloyds. This statement is supposed to give the customer peace of mind that when problems arise the company will step in with the insurance cover and rectify site based issues.
PI – Professional Indemnity cover gives cover for ‘advice’ only and has no warranty for site works covered within the policy. So let’s be clear – no site works whatsoever are covered under PI insurance.
We have companies stating that they have a ‘separate company’ covering the warranties provided. What is the trading status of this company? Does it have staff or resource to carry out works/ and do you really think that if the parent company went into a CVA or Receivership – the liquidator would allow funds to sit within a holding company.
It’s not going to happen.
My other pet favorite is the company saying that they provide a £5 million pound bond for every project that they do – our word is our bond – quotes the website.
Well your word is bullsh*t and your bond is worth as much.
Check the small print – get a warranty that actually means something.
Mike C
