Environet launches insurance-backed guarantees for bamboo removal in industry first
In response to growing consumer awareness of the problems caused by invasive bamboo, Invasive plant specialist Environet has launched the UK’s first insurance-backed guarantee (IBG) for bamboo removal.
IBGs have been the ‘gold standard’ in Japanese knotweed removal for many years, meaning that if a company becomes insolvent the customer’s guarantee remains valid should the plant regrow following treatment or excavation. Until now, they have never been offered for bamboo removal work.
Bamboo clearance Credit: Environet
One of the most invasive plants in the UK, bamboo can spread quickly via long lateral rhizomes and emerge in new locations, with the potential to cause damage to lawns, paths, patios and homes. Due to the distance running varieties of bamboo can travel, up to 10 metres from the parent plant, it often encroaches into adjacent properties. If it’s not dealt with and it causes damage, legal disputes can arise between neighbours.
A YouGov survey commissioned by Environet earlier this year found that 8% of homes in the UK currently have bamboo growing on their property, comprising around 2 million dwellings.
IBGs are an essential requirement for any owner of property affected by Japanese knotweed, to satisfy the mortgage lender providing a loan against the property. They are not currently required for the sellers of homes impacted by bamboo, although that could change in the future as concern grows around the impact of bamboo on residential property and the damage it can cause when it spreads.
Environet already provides every bamboo removal customer with 12 months of monitoring once the plant has been removed. Five and ten-year IBGs will now be available at an additional cost for extra peace of mind and to help sellers of affected properties reassure potential buyers.
Environet Director, Emily Grant, said:
“In a challenging economy, it’s never been more important to ensure that the company you choose is around in the future to service guarantees.
“Bamboo is a growing concern amongst our customers, now representing around half of all our invasive plant work compared to just 10% a couple of years ago.
“We’re delighted to be the first company in the UK to provide rock solid insurance-backed guarantees to our customers.”
Natalie Brenton, Partner at GA Solicitors, added:
“Homebuyers are more concerned about bamboo than they were a few years ago, especially if there are signs it’s spread within a property or onto adjoining land.
“Nobody wants to inherit a problem that’s going to be expensive to fix, or an ongoing legal dispute.
“Sellers can now provide reassurances that professional remediation has been undertaken with an insurance-backed guarantee to back it up, which can be passed onto their buyer.”
Environet’s guarantees are underwritten by CLS Property Insight Ltd on behalf of Great Lakes UK Limited, with an S&P AA- rating, providing up to £100,000 of liability with no excess charge.
Kindly shared by Environet UK
