Realistic’s 10 year guarnatee is not just with us but also backed up by the GGFi which also provides a deposit facilty to established companies for your added peace of mind, Realistic has been vetted before we were allowed on to this scheme and is an atchievement we are proud of and its link to the GGF. All of our customers will now benefit from this on all of our product ranges covered by our full 10 year gaurantee .Below is more information on the IBG and some questions you may like answer to?

GGFi gives you the clearest view on IBGs via its 'Guarantee Protection' product

What are IBGs?
Insurance Backed Guarantees (IBGs) are insurance policies offered by an installer to a customer/homeowner to offer protection to cover the installer's own guarantee, so that in the event that the installer ceases to trade or enters into liquidation, any incomplete/unsatisfactory work can be completed/rectified. An IBG (as well as Deposit Indemnity, where required), provides extra protection in addition to that provided by installers to homeowners of up to 10 years cover for the full contract value of the installation for repairs or replacement. IBGs offer different levels of protection and exclusions/limits depending upon the policy.

Why offer IBGs?
It is important for installers to provide an opportunity for homeowners to purchase an IBG policy from an insurance provider such as GGFi for many important reasons.

Research shows that IBGs can be used to effectively convert sales and are a great tool to help build business. Conversion rates have been shown to have increased by up to 30% in some cases. Homeowners are increasingly asking for insurance cover to provide protection against faulty workmanship to give them added peace of mind about their investment. Some companies offer all their customers IBGs, such as for example through their arrangement as Members of the Glass and Glazing Federation.

The home improvement market is particularly volatile with a high proportion of companies ceasing to trade within the first three years of trading. Most offer their own written guarantees but in the glazing industry these are traditionally for 10 years. An IBG is the most effective way of protecting the installers' written guarantee and in most cases, for a minimal cost.

In our industry, if installers do not provide an 'offer' scheme (i.e. make arrangements for an IBG offer to be made to customers) or 'give' a scheme (e.g. give customers an IBG), this takes them outside of the requirements set out by the CLG (Communities and Local Government), and therefore, the requirements for self certification under Approved Document L.

GGFi
Since its launch, the Glass and Glazing Federation's own Insurance Backed Guarantee (IBG) product called 'Guarantee Protection' now provides policies to over 700 companies installing over 200,000 installations per annum within our fenestration industry.

Companies wishing to join the GGFi schemes are checked against a strict vetting policy. For example, they are must pass financial and legal checks.

'Guarantee Protection' is designed specifically to provide the widest and best cover to consumers purchasing glazing products within the window and door industry. Due to high demand this has now been extended to other home improvement trades such as Kitchen, Bathroom and General Building.

The launch of the 'Guarantee Protection' product can be viewed as representing a significant milestone for insurance within our fenestration industry for the following reasons; the GGFi IBG is:

·      The only scheme that is operated and administered by the UK's leading glazing federation - the GGF.

·      The only scheme that is GGF branded.

·      The only scheme which uses the FENSA online system. This means there is no duplication of any information submitted to FENSA - saving installer’s time and money, as well as reducing delays and errors. FENSA Registered Businesses do not need to re-enter their details for the IBG to take effect. Everything is automated and taken care of seamlessly so that either the consumer receives an offer letter, or a 10 year policy which covers the guarantee of the installer.

·      Offers the most comprehensive polices.

Some of the other standard competitive benefits offered by 'Guarantee Protection' include:

·      Cover for failure to comply with the Building Regulations.

·      A choice of an 'offer' scheme and a 'give' scheme.

·      Competitive pricing.

·      No hidden costs - only pay for what you do.

·      No set up fees, No annual membership, No joining fees.

·      No minimum monthly payments - no requirement to purchase a minimum number of policies.

·      No pre-registering deposits (for you or your customers).

·      Immediate cover for installations up to £50,000.

·      Cover for Work in Progress.

·      Up to 10 years cover on all installations including conservatories.

·      Policies that are fully transferable to subsequent new property owners.

·      Hassle Free Transfer from your current IBG provider.

As Nigel Rees, Chief Executive, GGF Group, commented, "The GGF is continually looking at ways to enhance its service offering to Industry. The GGFi's IBG product offers real value and choice for installers. Its tailor made policies offers a 'middle of the road' option which empowers installers with the flexibility and choice - previously unknown and unavailable in Industry."

GGFi is a specialist company providing all forms of IBGs, Single Risk/Debtor credit insurance and Surety Bonds for companies involved in Commercial (Construction, Import/Export) and Domestic Home Improvements. Headed up by Philip Radley, whose past and present clients include Petroplus, Samsung, Everest Home Improvements, Larsen & Toubro and Glencore.