HomePro

Introduction to HomePro Insurance backed guarantees

As a home owner you should always make sure that any home improvements carried out by a contractor carry a HomePro Insurance Backed Guarantee. Good contractors will automatically offer you a HomePro Insurance Backed Guarantee.

The HomePro Insurance Backed Guarantee offers three levels of cover:

1. Warranty Insurance
Called a HomePro Value Policy, you will be covered for the period of the Contractor’s written guarantee, subject to the terms and conditions of the insurance.

2. Deposit and Warranty Insurance
Called a HomePro Value Plus Policy, your deposit will be covered for a period of 90 days, as well as being covered for the period of the Contractor’s written guarantee, subject to the terms and conditions of the insurance.

3. Deposit, Work in Progress and Warranty Insurance
Reserved for FairTrades members who have been accepted to the TrustMark scheme. All member of the TrustMark scheme are required to offer their customers insurance which protects:-

• Deposits taken before work starts
• Work during the period it is being carried out or work in progress
• Guarantee provided by the contractor, subject to the terms and conditions of the insurance.

All of the above are provided as an addition to the statutory rights conveyed in law. HomePro strongly advises that you read through any insurance documentation before you commit to signing anything.

The level of cover provided by HomePro Insurance Backed Guarantees will be dependent on the type of policy you are offered, you should refer to your policy document but the following can be covered:

Deposit Cover
If the contractor ceases to trade following the receipt of the Deposit and before work has started, the policy will enable you to recover the deposit to a maximum of £10,000 or 25% of the contract value, whichever is the lesser.

Guarantee Period
If the contractor ceases to trade during the guarantee period, and you have reason to make a claim against the guarantee for faulty workmanship or materials, the policy will provide for an approved contractor to remedy the work. The cost of the work will be covered under the Insurance Backed Guarantee policy.

The period of cover provided by HomePro Insurance Backed Guarantees is different depending on what you have covered. The following provides a guide to cover periods but always check your policy document to be sure:

Deposit Cover
Deposit cover lasts for a max 90 days from receipt by the contractor. Always ensure you have a written receipt of the payment on headed paper or order form. Deposit protection will stop when work starts on site.

Guarantee Period
The guarantee period can be anything up to 10 years on most home improvements. The policy you have will back the guarantee provided by the contractor – therefore if the contractors guarantee is 5 years – the cover period will also be 5 years, subject to the terms and conditions of the insurance.

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