dnb Posted March 28, 2022 Share Posted March 28, 2022 Has anyone else with an LABC Warranty had a communication essentially asking for a premium increase? As far as I can see they have changed their internal workings and are now trying to claw more premium out of existing customers who are not yet complete. Link to comment Share on other sites More sharing options...
nod Posted March 28, 2022 Share Posted March 28, 2022 I’ve just taken a professional certificate out for £1500 Vast majority of banks seem to recognize them LABC seamed to take Ages to quote Link to comment Share on other sites More sharing options...
Ralph Posted March 28, 2022 Share Posted March 28, 2022 53 minutes ago, nod said: I’ve just taken a professional certificate out for £1500 Is that basically getting an architect to sign off and paying of the liability insurance? We need a retrospective warranty and we're struggling to get anyone to quote. Buildsafe are taking months. Link to comment Share on other sites More sharing options...
dnb Posted March 28, 2022 Author Share Posted March 28, 2022 The point I was trying to get across is that I have a policy already and am 2/3rds through my build yet they appear to be trying to change the rules. Link to comment Share on other sites More sharing options...
Mjb Posted March 29, 2022 Share Posted March 29, 2022 16 hours ago, Ralph said: Is that basically getting an architect to sign off and paying of the liability insurance? We need a retrospective warranty and we're struggling to get anyone to quote. Buildsafe are taking months. I had a quote for a retrospective warranty yesterday. The company was ABC+ Warranty, their website is architects certificate.co.uk. Saw them at Home building and Renovating Show last week. Link to comment Share on other sites More sharing options...
Ralph Posted March 29, 2022 Share Posted March 29, 2022 18 minutes ago, Mjb said: I had a quote for a retrospective warranty yesterday. The company was ABC+ Warranty, their website is architects certificate.co.uk. Saw them at Home building and Renovating Show last week. Thanks, I'll give them a try. Link to comment Share on other sites More sharing options...
newhome Posted March 29, 2022 Share Posted March 29, 2022 15 hours ago, dnb said: The point I was trying to get across is that I have a policy already and am 2/3rds through my build yet they appear to be trying to change the rules. I had a different warranty but I was given a quote at the start and paid the entire amount as a single payment. The cost was fixed as far as I was concerned. You note that there has been a premium increase however so are you paying for the cost as you move through the build rather than upfront? Ultimately it will depend on what your policy docs say and whether it allows for the price to change once the quote has been accepted. Have to admit I assumed that warranty costs were fixed at the point of quote acceptance. There was a case a few years ago where the insurer went into liquidation and those who had policies were asked to pay more as the back end insurer had changed but this doesn’t appear to fit that criteria. Link to comment Share on other sites More sharing options...
J_ames Posted April 4, 2022 Share Posted April 4, 2022 LABC appear to be trying to increase the sums insured on the basis of the increased costs of materials that's occurred since you started. Essentially they are saying you're underinsured now. Maybe get a quote for a part started build? Try Protek Warranty - they've opened their scheme again recently. Link to comment Share on other sites More sharing options...
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