How do insurance backed guarantees (IBG) work?

An insurance backed guarantee covers the contractors company guarantee should the company dissolve at any point during the guarantee period. Please refer to your policy documentation for full details of cover.

 

How long until I get my guarantee?

It is down to the installer to order an insurance backed guarantee. Once your work has been completed and paid for, the installer will contact us via e mail and provide the information needed to order. Once received, we will issue an invoice for payment to the installer. Once payment has been made, you can expect your insurance backed guarantee to be completed the same day. If your contract value is over £50,000.00 or a commercial property (not lived in) times may differ. You are always able to contact the office via telephone or e mail to check on the status of your insurance backed guarantee.

 

What is a company guarantee?

A company guarantee is given to you by the installer who carried out the work. It will cover you for the time period given for any defects in the workmanship carried out. A company guarantee must be given if an insurance backed guarantee is to be issued as the insurance backed guarantee runs alongside the company guarantee. All company guarantees can look different and will rarely follow a format.

 

Can I order an insurance backed guarantee as a consumer?

Unfortunately not. It must be the installer that competed the work that orders the insurance backed guarantee.

 

Why have I received an insurance backed guarantee?

You will have received a policy, as an installer would have ordered you one after they have completed work at your property. If you have received a policy and are unsure that it is for you, please e mail or telephone the office.

 

How long does my policy last?

Almost all of our policies cover 10 years. This means that your company guarantee given to you must cover 10 years or above also. The only exception is solar PV which only covers 2 years.

 

I have an issue with the work covered on my company guarantee, what should I do?

In the first instance, you would call the installer who will come back out to look at the issue. If you are unable to contact the installer and they are still trading, please check to see if they are with any trade associations or websites that may be able to get hold of them for you. An insurance backed guarantee only covers if the installer has dissolved. If your installer has dissolved, you are able to make a claim. Details of how to do this will be on your policy.

 

How can I check my contractor is still trading?

You are able to search here for limited companies and here for sole traders.

 

Are insurance backed guarantees mandatory?

Insurance backed guarantees are not mandatory by law and your installer does not have to give one if they do not wish to.

 

Do I have an insurance backed guarantee?

To check if you have an insurance backed guarantee, please e mail or telephone the office with the policy holders name and address and installer details and we can search for you.

 

Is the insurance backed guarantee transferrable?

Insurance backed guarantees are transferrable as long as the company guarantee states it is also transferrable. If your company guarantee is transferrable and you need to change the name of the policy holder, please contact the installer who will contact us to make the change. If the installer has dissolved, please contact the office. If there are too many changes made, BTI Services reserve the right to charge an admin fee.

 

What is deposit protection insurance?

Deposit protection insurance is designed to protect the consumer should the installer dissolve and cannot complete the installation agreed. Deposit protection insurance usually lasts 120 day from the date your deposit has been paid.

 

I cannot find my documentation?

Please contact a member of the team via e mail or telephone with details of the installer, address and policy holder. If an insurance backed guarantee has been ordered for you, we can resend the documentation.

 

My details are not correct on my policy?

If your details are not correct, please contact your installer and make them aware. They will then contact us to make any changes and we will issue a new policy if needed.