Although a home improvement is one of the safest forms of financial investment, there is one pitfall
that is often overlooked:
Did you realise that although a contractor’s personal / company guarantee can cover faulty workmanship and materials,
is is only valid if the company has not ceased trading.
Every year thousands of businesses close due to bankruptcy, liquidation or even death of the proprietor.
A HomePro Insurance Backed Guarantee (or IBG) will protect your financial investment by matching the
terms of your contractor’s original guarantee should they have ceased to trade. *So, if they are no
longer in a position to honour a claim – your project will still be protected.*
*The IBG can protect your project from deposit to completion and beyond and it can cover stage
payments made to your contractor and the work in progress. HomePro will even help you to find a new,
approved contractor to commence or recommence the project, if your original contractor fails to complete.*
Remember - many homeowners assume that they will be covered by their home insurance policy but sadly
this is rarely the case as contents and building insurance only cover accidental damage to property
and not materials or workmanship.
The IBG can also be transferred to any new owner of your property,** which is a great asset if you
decide to sell your home.
Businesses that can offer an IBG as part of their service can be identified on the “Find A Pro”
directory by the HomePro Insurance logo displayed at the top right of the business listing or be sure to ask your contractor before accepting their quote.
Choose an award winning HomePro Insurance Backed Guarantee for your peace of mind.
*Subject to trade, terms of the Master Policy and policy type.
**Provided that the Contractor’s written guarantee is also transferable.
For more information on IBG's,
to visit our insurance site.
Please note that this website is designed to provide you with general information only and does not attempt to give you financial advice on any particular aspect of home improvement or insurance related products.
If you have any doubt about your specific finance or insurance needs consult a financial advisor.