"An Insurance Backed Guarantee is an insurance policy that covers the original guarantee provided by an installer. An IBG provides you with additional peace of mind that in the unlikely event the company ceases to trade, for whatever reason, you can still make a claim under the terms of the original guarantee."
Why do I need an Insurance Backed Guarantee?
My installer has already giving me a guarantee!
- Contractors, large and small, cease to trade each year for a multitude of different reasons.
- Guarantee periods can vary from 2 years to 10 years and much can happen to any business in that time, regardless of current stature.
If your chosen installer were to cease trading you could be left with faulty goods, a guarantee of no value and a potential bill to rectify any problem.
Eliminate the risk
This risk is overcome with a bona-fide Insurance Backed Guarantee.
If your installation company has registered you, via the scheme, for an Insurance Backed Guarantee, this protects the member’s own guarantee. This means that any bona fide claims under the member’s guarantee will be met by the insurers should the member cease to trade.