There is no easy answer to this question as you would first need to evaluate the risk and your individual circumstances. An Insurance-Backed Guarantee (IBG) can provide valuable protection to you as a homeowner when commissioning roofing work. The contractor would normally provide a workmanship guarantee which sets out their obligations to rectify any defects found within their workmanship within the period of the guarantee.
However, what if the contractor has ceased to trade during the term of their guarantee? This is when an Insurance-Based Guarantee would come into play, allowing you to submit a claim under your policy to get the roof repair work completed.
As with any insurance cover, the specific terms will be defined in the policy wording and in accordance with the terms and conditions of the policy. There will be an additional cost for any Insurance-Backed Guarantee (IBG) and this cost must be measured against the risk of failure. There also tends to be a high excess which also needs to be considered.