The National Guild of Master Craftsmen Insurance Backed Warranty – Buildsafe offers added consumer protection

The National Guild of Master Craftsmen encourages the use of their Insurance Backed Warranty – Buildsafe.

Buildsafe is a specifically designed insurance product that provides the public with comprehensive protection in the event a National Guild contractor who ceases to trade or fails to start or complete the works within a defined period.

In such cases Buildsafe will arrange for an alternative builder to complete the insured works for the contract price, less the amount of any deposit or stage payment made to the original contractor. Alternatively they will refund the amount of any deposit or stage payment made to the contractor.

Where the Contractor has ceased to trade and fails to rectify defects and major damage in the Insured Works caused by faulty design, materials or workmanship, the insurer at its option will either: arrange for another builder to remedy defects or pay the Insured the reasonable cost of rectifying the matter.

Where the Contractor has ceased to trade, the Insurer will pay the costs of removing or contacting contaminants that were known to be harmful and known to exist on the site of the insured works are the time notice to build was deposited with the Local Authority, provided the removal or containment was part of the original site preparation scheme and a clean up notice has been served by the Local Authority.

Mr. Pat Doyle, Managing Director of The National Guild of Master Craftsmen says ‘the format could not be easier for our members to implement. You simply download the following from our Website, our Standard Contract and the Proposal for Warranty Insurance Cover. (Alternatively the Guild can post same to you). Then complete both in full with your Client forward them to the Guild with the requisite cheque made payable to Prestige Underwriting Services. (The rate chart for same is also on our web site). Prestige Underwriting Services will then forward all relevant certificates and policies to your Client.’ 

On completion of the work the member must then supply a Completion Document (again this can be downloaded/posted out).

You forward same to the Guild. More infoamrtion can be viewed on the website

‘Buildsafe is therefore a very exciting development that is exclusive to the members of the National Guild of Master Craftsmen. It will afford the public peace of mind when paying deposits and stage payments and will assist members with their budgets and cash flow. Because of this added security, members of the public should be more inclined to do business with members of the National Guild of Master Craftsmen’. Mr. Doyle concluded