Structural warranty provider reports five-year high

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Structural warranty provider, Premier Guarantee has achieved its best quarter over the past five years in the first three months of this year

Given the difficulties the construction industry faced in 2020 due to the pandemic, structural warranty provider Premier Guarantee has bounced back strongly.

Compared with Q1 2020, there was an 80% increase in units registered in the first quarter of this year.

Throughout the lockdown restrictions, the company has maintained its service levels, ensuring that developers could continue business as usual.

‘A testimony to resilience and adaptability’

Gary Devaney, CEO of Premier Guarantee, said the company’s order book was strong and 2021 was off to a good start.

“2020 was a difficult year for everyone, including the housebuilding industry. Our record results for the first quarter of 2021 are testimony to the resilience and adaptability of our business and a vote of confidence in the market overall.

“As market conditions improve we look forward to continuing to support our growing customer base,” said Devaney.

*Figures are based on Gross Written Premium.

In March, Premier Guarantee reported a significant increase in new home structural warranties quotes in the last quarter of 2020.

Quotes for new home structural warranties rose 71% in comparison with 2019’s Q4 period.

Quotes for warranty cover were up by 123% in the last quarter of 2020 compared to the lockdown period of Q2.

Premier Guarantee adapted to the pandemic by adopting remote inspections and rolling out an online reporting platform for builders and developers, as well as employing new technology to record on-site construction data.

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