For Housing Associations and Local Authorities, the maintenance of properties is an ongoing project and significant local government funding is invested in improvements every year. With an ageing housing stock, this work is vital to modernise homes, making them more secure and improving the energy efficiency to save on heating bills.

When Local Authorities, or housing tenants, hire sub-contractors to carry out repairs, maintenance and improvements, it’s important for peace of mind, and budgets, to protect the investments made on upgrading accommodation for occupants.

The best and easiest way to do that is with a bona fide Insurance Backed Guarantee policy from a UK Authorised Insurer. Not only does it give extra peace of mind to tenants, but it also means that the significant investment made by Housing Associations, Local Councils and Authorities is protected, should the contractor cease to trade.

What is an Insurance Backed Guarantee?

When works are carried out on properties, installers and contractors will issue a written guarantee, which will cover the scope of the guarantee they offer. But that guarantee only lasts as long as the contractor stays in business.

Insurance Backed Guarantees go one step further with an insurance policy to guarantee the work, regardless of any mitigating circumstances which may force the contractor to cease trading. Even if the installer retires, moves on to another career or starts a new business, the investment in your housing stock is still protected.

So, if there are workmanship defects, or product failures over the next 10 years, and the original installer or contractor is no longer in business, remedial work is carried out, and the costs are covered by the policy.

The best part for local authorities is that they don’t need to take any action to receive this level of protection. By specifying that all home improvement grant work must come with an Insurance Backed guarantee, both tenants and authorities are protected.

The contractor registers the IBG themselves using a straightforward and simple online job registration system and specifies whether the policy documents go to the property or direct to the council.

What Work is Protected?

An Insurance Backed Guarantee can cover all kinds of trades, so no matter what improvement is being made, it can be covered by a genuine Insurance Backed Guarantee. The policies offered by QANW include cover for: general building, roofing, damp-proofing, timber treatments, roofline, double glazing, kitchens, bathrooms and central heating.

Most installers give IBGs to consumers as a matter of course. It’s a good selling tool for them to offer really good peace of mind for homeowners and protect their reputations. In some sectors, Insurance Backed Guarantees are even part of the requirement for registering jobs with Competent Persons Schemes (CPS).

UK Authorised Insurers

The key thing to remember when you’re looking for protection for your housing stock is to make sure that you are dealing with a UK Authorised Insurer offering a genuine insurance policy. If a scheme just talks about ‘guarantees’ rather than ‘insurance’ they may not be insuring the risk with a bona fide policy. It is always worth double checking that the provider your contractors are using are UK Authorised Insurers, to save any hassle in the long run.

At QANW, we offer 10-year Insurance Backed Guarantees for Local Authority & Council Grant works, that offer genuine protection on the repair, maintenance and improvement investments made in your housing stock. Don’t leave it to chance. Protect your budgets and your tenants with a genuine Insurance Backed Guarantee on all work done on your properties.