Insurance BAcked Guarantees and Deposit Protection
The Confederation of Roofing Contractors (CORC) is pleased that we enable our members to offer their clients a fully insured roof Insurance Backed Guarantees (IBG) and Deposit Protection Insurance (DPI). Guarantees will be issued by the CORC, who is an authorised representative of our insurance company who is registered with the Financial Conduct Authority (FCA).
The CORC trade insurance backed guarantee is exclusive only to members of the CORC.
All members of the Confederation of Roofing Contractors are automatically registered with our insurance company. There is no joining fee.
Choose a CORC Insurance Backed Guarantee for your peace of mind
Although a home improvement is one of the safest forms of financial investment, there is one pitfall that is often overlooked – a worthless guarantee.
A roofing contractor’s own guarantee can cover faulty workmanship and materials, but only if the company is still trading.
Every year thousands of businesses close due to bankruptcy, liquidation, or even the death of the proprietor. A CORC trade IBG will protect your financial investment by matching the terms of your contractor’s original guarantee should they cease to trade. So if they are no longer in a position to honour a claim, your project will still be protected.
An IBG can protect your project from deposit to completion. If your original contractor fails to complete, the CORC will even help you to find a newly approved contractor to commence or recommence the project.
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 should you decide to sell your home.
Members can now include this benefit in each quotation given for new works, the cost has to be included in the quotation and not as a separate item, details of the works should be conveyed to our office via email. Payment will be via debit/credit card for each IBG (we cannot accept American Express payment). We will then obtain the IBG from the insurance company and email/post directly to you and/or your client.
IBG’s do NOT cover repair work.
Although the IBG’s are badged by the CORC, all claims must be made directly to the insurance company, the CORC are not the guarantors and are acting only as a broker for this benefit.
Leaflets to be included in your quotations can be provided free of charge as can IBG van stickers.
Deposit Protection Insurance
CORC contractors are also able to provide Deposit Protection Insurances. This will cover 25% of the total contract value and is ordered at the start of work.
A Deposit Protection Insurance includes a free Insurance Backed Guarantee to be given at the end of work.
They are ordered via the office by the contractor.