WHAT IS AN INSURANCE BACKED GUARANTEE?

An Insurance Backed Guarantee (IBG) underwrites the guarantee that your installer provides you and is claimable in the event your installer ceases to trade. In an ideal world, your installer will always be there to take care of any problems that may arise over the period of the guarantee they provided you with. In reality, however, there is always a risk that your contractor might cease to trade, and if they do, their guarantee would become worthless without proper insurance. There is also a chance you could be charged the costs of any remedial work should you have issues with their installations.

what difference does an IBG make?

If your installer provides you with an Insurance Backed Guarantee and then ceases to trade, the insurer will honour the terms of the guarantee issued by your installer (in accordance with the terms and conditions of the policy). The insurer will send qualified tradespeople to assess the issue and arrange for the remedial work to be carried out if the claim is valid.

How can an IBG benefit you?

An IBG gives you peace of mind as you will be protected in the future if problems in the installation arise and your contractor has ceased to trade. Home improvements are an investment and the IBG is protecting it, should any issues arise under the terms and conditions of its policy.

INSURANCE BACKED GUARANTEE PROVIDERS

It is a requirement of Flexi-Orb that members provide their customers with an IBG and register the customer on the Flexible Energy Register. This then allows us to ask the IBG provider to confirm that the customer is registered with them. When an IBG provider applies to be recognised by us, we also check that their policy conforms to minimum requirements. Our members are only able to use the IBG providers listed in our panel, and you can check their cover details below.

Consumer Protection Association (CPA)

Flexi-Orb products covered

Boilers (biomass & gas)
✔		 Combined heat and power
✖
 Energy storage systems
✖
 EV charging points
✖
EV storage devices
✖
 Heat pumps
✔		 Inverters
✔		 Infrared heating
✖
Micro wind turbines
✖
 Solar PV
✔		 Solar thermal
✔		 Ancillary products
✖
Organisation type Consumer Protection Organisation
Type of IBG Workmanship
Minimum 2-year workmanship covered ✔
Access to Financial Ombudsman Service ✔
Access to Financial Services Compensation Scheme ✔
Automatic coverage for consumer with no need to activate IBG ✔
(Yes, providing the member is opted into the auto issue scheme)
Cover for defects discovered prior to the company ceasing to trade (up to a maximum of 6 months) ✔
Cover for voluntary liquidation of the company or retirement of a self-employed person ✔
A provision to be able to transfer the IBG to a new owner of the property ✔
Excess is not greater than £250 ✔
HIES Consumer Code

Flexi-Orb products covered

Boilers (biomass & gas)
✔		 Combined heat and power
✔		 Energy storage systems
✔		 EV charging points
✔
EV storage devices
✔		 Heat pumps
✔		 Inverters
✔		 Infrared heating
✔
Micro wind turbines
✔
 Solar PV
✔		 Solar thermal
✔		 Ancillary products
✔
Organisation type Consumer Protection
Type of IBG Product & Workmanship
Minimum 2-year workmanship covered ✔
Access to Financial Ombudsman Service ✔
Access to Financial Services Compensation Scheme ✔
Automatic coverage for consumer with no need to activate IBG ✔
Cover for defects discovered prior to the company ceasing to trade (up to a maximum of 6 months) ✔
Cover for voluntary liquidation of the company or retirement of a self-employed person ✔
A provision to be able to transfer the IBG to a new owner of the property ✔
Excess is not greater than £250 ✔
Home Improvement Protection (HIP)

Flexi-Orb products covered

Boilers (biomass & gas)
✔		 Combined heat and power
✖
 Energy storage systems
✔		 EV charging points
✔
EV storage devices
✔		 Heat pumps
✔		 Inverters
✔		 Infrared heating
✔
Micro wind turbines
✖
 Solar PV
✔		 Solar thermal
✔		 Ancillary products
✔
Organisation type Deposit Protection & Guarantee Insurance Provider
Type of IBG Product & Workmanship
Minimum 2-year workmanship covered ✔
Access to Financial Ombudsman Service ✔
Access to Financial Services Compensation Scheme ✔
Automatic coverage for consumer with no need to activate IBG ✔
Cover for defects discovered prior to the company ceasing to trade (up to a maximum of 6 months) ✖
Cover for voluntary liquidation of the company or retirement of a self-employed person ✔
A provision to be able to transfer the IBG to a new owner of the property ✔
Excess is not greater than £250 ✔
IWA (Independent Warranty)

Flexi-Orb products covered

Boilers (biomass & gas)
✔		 Combined heat and power
✖
 Energy storage systems
✔		 EV charging points
✔
EV storage devices
✔		 Heat pumps
✔		 Inverters
✔		 Infrared heating
✔
Micro wind turbines
✖
 Solar PV
✔		 Solar thermal
✔		 Ancillary products
✔
Organisation type Deposit Protection & Guarantee Insurance Provider
Type of IBG Product & Workmanship
Minimum 2-year workmanship covered ✔
Access to Financial Ombudsman Service ✔
Access to Financial Services Compensation Scheme ✔
Automatic coverage for consumer with no need to activate IBG ✔
Cover for defects discovered prior to the company ceasing to trade (up to a maximum of 6 months) ✖
Cover for voluntary liquidation of the company or retirement of a self-employed person ✔
A provision to be able to transfer the IBG to a new owner of the property ✔
Excess is not greater than £250 ✔
Qualitymark Protection

Flexi-Orb products covered

Boilers (biomass & gas)
✔		 Combined heat and power
✔		 Energy storage systems
✔		 EV charging points
✔
EV storage devices
✔		 Heat pumps
✔		 Inverters
✔		 Infrared heating
✔
Micro wind turbines
✔		 Solar PV
✔		 Solar thermal
✔		 Ancillary products
✔
Organisation type IBG Provider
Type of IBG Product & Workmanship
Minimum 2-year workmanship covered ✔
Access to Financial Ombudsman Service ✔
Access to Financial Services Compensation Scheme ✔
Automatic coverage for consumer with no need to activate IBG ✔
Cover for defects discovered prior to the company ceasing to trade (up to a maximum of 6 months) ✔
Cover for voluntary liquidation of the company or retirement of a self-employed person ✔
A provision to be able to transfer the IBG to a new owner of the property ✔
Excess is not greater than £250 ✔

Please note: the above information has been provided by the IBG provider on application. This information could change, and therefore you should contact the IBG provider for confirmation in relation to their IBG provision.

What you need to look out for in an IBG

There are a few points you should check with your installer with regards to the IBG. This includes… does the IBG provide you:

  • Access to Financial Ombudsman Services (FOS).
  • Access to Financial Services Compensation Scheme (FSCS).
  • Automatic coverage without the need for you to activate your IBG.
  • A minimum 2-year workmanship cover.
  • Cover for defects discovered prior to the company ceasing to trade (up to a maximum of 6 months).
  • Cover for voluntary liquidation of the company or retirement of a self-employed person.
  • A provision to be able to transfer the IBG to a new owner of the property.
  • Access to Financial Ombudsman Services (FOS).
  • Access to Financial Services Compensation Scheme (FSCS).
  • Automatic coverage without the need for you to activate your IBG.
  • A minimum 2-year workmanship cover.
  • Cover for defects discovered prior to the company ceasing to trade (up to a maximum of 6 months).
  • Cover for voluntary liquidation of the company or retirement of a self-employed person.
  • A provision to be able to transfer the IBG to a new owner of the property.

You should also make sure your IBG does not require you to pay an excess greater than £250.

How do I make a claim?

To make a claim, simply contact the insurance provider named on the IBG certificate. If you cannot locate your certificate then please contact us on info@flexi-orb.com and we will try to assist you.