How Does An Insurance Backed Guarantee / IBG Help Consumers?
Fuelled by the £18 billion spent on the home improvement market each year -
IBGs are the ultimate peace of mind products for consumers and businesses.
Initially IBG's were aimed at businesses that want the benefit of including an insurance product to back up their warranty on all of their works as standard,
but today legislation has made it a mandatory requirement for the glazing industry to provide an IBG with every job completed.
Roofing, Loft and Kitchen fitters also use this insurance product extensively and with the extensive media coverage of programs like DIY Disaster and Rogue Trades, etc.
We are also finding home owners are now increasingly requesting that an Insurance Backed Guarantee be provided as part of the overall deal.
This can help differentiate your service from those of your competitors by giving your customers the unrivalled peace of mind (as standard)
that only an HomePro Insurance Backed Guarantee can provide.
Provided for businesses that want the flexibility of having the facility of Insurance Backed Guarantees available,
but want to allow the customer to choose whether they want the policy or not.
Given the length of a warranty provided by glazing, roofing, solar and kitchen fitment companies warranty period,
it's seems prudent that home owners should request that an Insurance Backed Guarantee (IBG) is issued alongside the installing companies own warranty which could be valid for up to 10 years.
A lot can happen to a business during 10 years,
particularly true in today's volatile business environment where company margins are being squeezed hard by the increased competition and then manufacturing sector.
Should the installation company cease trading due to financial reasons,
it is the home owner who would be left with faulty workmanship, equipment or the initial deposit.
An IBG would step in and cover the home owners financial investment if this was to be the case.