What is an Insurance Backed Guarantee?
If you have a conservatory or orangery put in by an Ultra installer, the safest way to protect the work done and your investment is for them to provide you with an insurance backed guarantee.
A regular guarantee by a company to its customers is a very nice thing, but when we’re talking home improvements, we’re dealing with permanent or long-term alterations to your home. Should anything go wrong within the time of the guarantee, you want the reassurance that the installer will still be here to help you sort it out. A lot can happen in a decade or two.
That’s why we feel much better (and we hope you will too) when our installers are able to offer you an Insurance Backed Guarantee (IBG) where the insurers promise that for the duration of the guarantee, should the Ultra installer cease trading, your guarantee will still stand. The IBG will only be used then.
There are also other ways that you can protect your investment in a home extension including Deposit Protection Insurance and Staged payment protection. take a look at our article on deposit protection and insurances.
How do I know if I’ve got all the right papers for my IBG?
If you have used the ‘Get a Quote’ facility or 'Find an Installer' on this website the installers that are shown to you should be able to provide you with an Insurance Backed Guarantee. Often these Guarantees differ so it's important for you to check first that you have the right level of cover for your investment. your chosen Installer will be able to help you with all of the details and will be able to explain it for you.
What you should look for
If the retailer has taken a deposit from you, this should be covered for:
- Work in progress and failure to comply with Building Regulations should also be covered.
- The full value of your installation should be covered
- When you sell your home, if it is within the stipulated time of the guarantee, the IBG should be fully transferable to the new owners.
Why is it an important part of the aftercare package?
The ability to follow through on a promise is an important thing for any company trading in building and home improvements. If your installer is unable to follow through on the promise that their building work is up to the standards that Ultraframe and you expect, and then that installer goes out of business, so they are unable to deal with the issues, your IBG is a fall back position where you can recoup your losses and deal with the problem.
Most of the Ultra Installers include an IBG within the price that you are quoted. Make sure you ask about Insurance Backed Guarantees when deciding on your installer. If you need more information about this, don't hesitate to contact Ultraframe at marketing@ultraframe.co.uk and we will be happy to point you in the right direction.
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