Insurance Backed Guarantee
Our guarantee, which is underwritten by Red Sands Insurance, mirrors that of the member company‘s own guarantee / contract and provides cover for up to 10 years for the full contract value of the installation for repairs or replacements in the event of the member company ceasing to trade through liquidation, bankruptcy, death or state retirement of the principals.
» Certificate Registration Form
The need of an Insurance Backed Guarantee (IBG)
All member companies have to provide their own guarantee, so provided they remain in business, the consumer will never have to resort to the insurance backed guarantee for remedial work. However there are an alarming number of consumers who have had problems only to find that the original installing company has ceased to trade within the guarantee period, therefore the consumer has to find the costs of having the problem rectified themselves. By choosing a company that are members of our organisation and having an insurance backed guarantee will ensure that you have peace of mind, should anything go wrong and the member company has ceased to trade, as any problems will be rectified with the minimum amount of fuss.
Insurance Certificate
Upon the successful completion of an installation or home improvement and provided full payment has been made by the consumer, the member company will notify us and we will forward a certificate of insurance to you without delay.
Policy
The document, Certificate will be supplied after the completion of your installation and full payment is made and any endorsements set out in the terms of the contract between You and Us. Please read the policy, Certificate and any endorsements to make sure they provide the cover You want. Before You accept the policy You have 14 days to review Your policy wording, and consider its full terms. If You are not totally happy with the policy and have not made a claim, simply write to the person who arranged this insurance for You requesting that Your insurance is cancelled and that any monies paid be returned. We will then cancel Your insurance.
In return for Your premium, We will insure You during the period of insurance, under the terms set out in this policy document.
The Benefits
In consideration of the payment of premium and subject to the terms conditions and exclusions of this policy, The Insurance Company agrees to indemnify The Insured against the cost of making good defects in or damages to an Installation from an Insured Cause as specified in the policy where the original Installing Company has Ceased to Trade through liquidation or bankruptcy.
Limit of Indemnity
The liability of The Insurance Company in respect of any one Installation period of 10 years from the installation dateinsurance shall never exceed:
in respect of the Completed Installation £15,000 or the original cost of the Installation whichever is the lesser regardless of the number of claims.
Definitions
The Installation Company: The above installation company with whom a contract has been made for the home improvement
Insured Cause: Claims emanating from defective workmanship or materials in the Insured Works and/or the Installation Company’s failure to comply with Building Regulations (as defined) where the original installer has Ceased to Trade.
"Ceased to Trade" means Ceased to Trade due to Liquidation, Receivership, Administration or the winding up of a business due to the Bankruptcy or Death of the Principal(s).
"Administration, Bankruptcy, Liquidation, Receivership" means as defined by the laws applicable to England and Wales.
Policy Period: 10 years from the installation date above or the installers guarantee period, whichever is the
Lesser Exclusions:
- any loss of use or Consequential Loss of any nature,
- any damage caused by war risks, sonic booms or nuclear radiations,
- breakage of glass for any reason,
- any remedial work undertaken without the consent of The Insurance Company.
- any loss which is recoverable under any other insurance policy or any other source whatsoever.