The Residential Warranty – Comparing the Market

By James Russell In Warranties No comments

Why do developers and contractors buy warranties on houses/apartments they are building?

That’s easy, it’s because they want to sell the property and they will hit problems with mortgage lenders if they don’t.

So, let’s try another question. Why do developers and contractors routinely pay more for these warranties than they have to?

Well, that’s because they get too used to buying from one source (ie the warranty provider) and they never think about shopping around. “It’s easy to buy from the people we have always bought from” is the mentality that prevails.

Of course, if you think about buying motor insurance, your home insurance, or who you buy your electricity from, you compare the various products out there and see which is best for you. You check which product gives you what you need at the most competitive price, usually through a price comparison vehicle such as a website or a broker.

So, why not do that for a residential warranty?

Well, you can. By going through a specialist broker such as us, we check the various products available and provide you with options to consider. By doing this, developers and contractors are saving money as well as having the benefit of access to multiple warranties rather than just one. It makes sense.

If you have a site on which you may need a warranty, contact us and we will be happy to help.