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:
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.
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.