When having home improvement works carried out on your property, it is essential to make sure an insurance policy is in place and given to you, by way of business, as part of the overall sale to protect you from unforeseeable circumstances.
This is the best form of protection. However, there are many companies that only 'offer' this service as an option and do not give it, leaving many homeowners believing they are covered when they are not.
An Insurance Backed Guarantee (IBG) is valuable protection in the unlikely event of the Consumer Protection Association member ceasing to trade due to liquidation or bankruptcy. The guarantee given by the CPA installing company is valid the whole time they are trading and so any defects should be corrected by them.
If, due to the liquidation, receivership, administration or winding up of the business due to bankruptcy, state retirement or death of the principal(s), the company no longer exists, faults appearing after they cease to trade will be covered by the IBG. Depending on the work undertaken the IBG is available for a period up to 10 years and is backed by an authorised insurer