Company Description:
Builders are provided eligibility for warranty insurance up to the amount of turnover that the current assets in the business will support. Builders who are growing can request higher turnover eligibility and, provided they are earning sufficient margin on their new jobs, this is acceptable. Tying eligibility to turnover has been misrepresented as a ?cap' by those who want a return to a state run insurance scheme. In fact, less than 10% of builders, nationally, request an increase in their turnover eligibility. From viewing the 40 page builder kit and the 70 page accountants kit it is not surprising that most builders avoid reviews to increase turnover. Contract splitting is a common practice whereby a builder can register jobs in parts whereby each ?contract' can then fall under the cap limitations. However, the simplest explanation of how these limitations work, both for annual turnover and job specific is to inspect an actual certificate of eligibility as issued by Vero Insurance where it clearly states:Any application for insurance that is outside the limitations of eligibility will not be accepted. In addition"
Builders are provided eligibility for warranty insurance up to the amount of turnover that the current assets in the business will support. Builders who are growing can request higher turnover eligibility and, provided they are earning sufficient margin on their new jobs, this is acceptable. Tying eligibility to turnover has been misrepresented as a ?cap' by those who want a return to a state run insurance scheme. In fact, less than 10% of builders, nationally, request an increase in their turnover eligibility. From viewing the 40 page builder kit and the 70 page accountants kit it is not surprising that most builders avoid reviews to increase turnover. Contract splitting is a common practice whereby a builder can register jobs in parts whereby each ?contract' can then fall under the cap limitations. However, the simplest explanation of how these limitations work, both for annual turnover and job specific is to inspect an actual certificate of eligibility as issued by Vero Insurance where it clearly states:Any application for insurance that is outside the limitations of eligibility will not be accepted. In addition"