The devastating effects of a Japanese knotweed outbreak can have a significant financial impact through remedial costs and legal fees.
Knowing these costs are covered within an insurance policy can really put your mind at rest. However, Japanese knotweed is not usually covered by the terms of a standard insurance policy.
Japanese knotweed is a huge problem for landowners in the UK. It is estimated that this invasive plant affects roughly 5% of UK homes, meaning around 1.45 million residential properties are impacted by Japanese knotweed. With this in mind, sourcing Japanese knotweed insurance cover for your property is a sensible move.
Most standard insurance policies don’t cover damage or removal costs associated with Japanese knotweed.
Japanese Knotweed Indemnity Insurance
Japanese knotweed indemnity insurance protects homeowners and lenders from the financial risks associated with a Japanese knotweed infestation. This type of policy is available for those properties with no known occurrences of Japanese knotweed.
If you’re in the process of buying a property where the Japanese knotweed section of the Law Society’s TA6 form is left unticked, this type of policy is available to you for protection against future infestations.
What Does It Cover?
An indemnity policy usually covers the policyholder and successors in title for 5 or 10 years, and the lender for the duration of the mortgage, for the following Japanese knotweed-related expenses:
- Professional Japanese knotweed survey
- Cost of treatment, removal and follow-up treatments for re-growth
- Cost of property repairs caused by Japanese knotweed
- Legal expenses from third-party claims
The Knotweed Specialists are experts in the field of problem plants. We can accurately identify invasive species and offer a full, insurance-backed service to treat an infestation. If you think you have Japanese knotweed on your land, please send us a picture and we will get back to you straight away. Don’t take risks treating an invasion yourself; contact the professionals.
Insurance-Backed Guarantee
Many Japanese knotweed contractors offer an ‘insurance-backed guarantee’ (IBG) to back up their work. This provides reassurance and protects homeowners against future outbreaks.
What is an Insurance-Backed Guarantee?
Essentially, an insurance-backed guarantee ensures the original company’s guarantee is honoured, should they become insolvent or cease trading for any other reason. The homeowner can claim for future re-treatment if new growth appears, even if the original contractor is no longer in business. Under the policy, a new contractor will fulfil the obligations guaranteed by the previous contractor.
How Does It Work?
The purpose of this type of insurance is to provide an additional level of reassurance and financial protection in case a Japanese knotweed infestation returns. Indemnity insurance is usually low-cost and long-term; Japanese knotweed is unfortunately a long-term problem, since the rhizomes can lie dormant, buried underground for up to twenty years.
Transferability
Often, an insurance-backed guarantee can be transferred to new homeowners or lenders.
When you’re investing in the removal of a Japanese knotweed infestation, make sure you source a contractor that offers an insurance-backed guarantee. Many contractors guarantee their services, but if they are no longer in business, a guarantee is worthless. An insurance-backed guarantee takes the worry and uncertainty away from a long-term problem like Japanese knotweed. You have complete reassurance that future infestations will be treated at no extra cost.
The Knotweed Specialists offer a full insurance-backed guarantee covering all Japanese knotweed services. We are PCA Accredited and committed to achieving excellence in the field of invasive plant removal. In the unlikely event that Japanese knotweed returns after treatment, you can enjoy complete peace of mind that there will be no further costs beyond what was initially agreed.
