Answers to the most common questions regarding your policy >

What is a Deposit Protection Insurance Policy?

Deposit Protection Insurance is designed to protect the monetary payments made to an installer, in the event that they cease to trade prior to the works being completed or started.

The maximum level of cover offered by this insurance will be 25% of the contract value. This policy doesn’t entitle the policy holder to an automatic refund of the funds “lost” but will ensure the customer is put back into the same financial position as they were prior to the installer’s closure.

Please see below an example of this insurance in practice;

Deposit ValueContract ValueOutstanding ValueLike For Like QuoteAmount Due to Complete InstallationDividend
£2,500.00£10,000.00£7,500.00£7,500.00£7,500.00£0.00
£5,000.00£25,000.00£20,000.00£27,000.00£22,000.00£2,000.00

 

 

What is an Insurance Backed Guarantee?

An Insurance Backed Guarantee is a policy of insurance which shall come into effect in the event that your installer ceases to trade and will provide you with the benefits of the guarantee issued by them; where they are no longer in a position to honour same.

 

 

What does cease to trade mean?

Cease to trade means your installer is no longer in business and no longer selling or installing home improvement services.

Please refer to your policy of insurance for a clear definition of what QANW class as cease to trade; however, the following is QANW’s current definition: 

Ceased Trading means ceasing to trade by reason of Liquidation (whether voluntary or involuntary), Receivership, Administration, Strike-Of or Dissolution in respect of a Limited company, Bankruptcy, Retirement, total incapacity or death of the principal(s) in the case of a Sole Trader or Partnership, or any other reason where suitable proof can be exhibited to the Insurer to confirm that the Contractor is no longer trading in any shape or form.

 

 

How long does my policy last?

Please refer to the section on your policy titled ‘The Period of this Insurance’ in order to confirm the term of your policy.

Depending on the product, the term of cover provided varies so there isn’t one single term for all.

 

 

Why have I received this policy?

You have received this policy as your installer is required to provide you with this benefit in respect of the home improvement you have had installed or planning to install.

 

 

Do I have to pay anything for this insurance?

All of QANW’s policies are paid for by the installer, no payment is due or expected from any policy holder.

Payment from installers is required prior to a policy being issued, therefore you needn’t worry about payment.

 

 

Who is my installer?

The installer will be listed on your policy of insurance and the paperwork you have from them.

However, you may be able to find your installer via the Find Your Installer section.

 

 

Is my policy transferable?

QANW will be happy to transfer the benefits of the policy, if you have recently taken ownership of the property; however, the installers guarantee must state that it is transferable for the benefits to be transferred successfully. 

Please refer to the Transferability section on the reverse of your policy for the full conditions applicable to your policy and to confirm the fee applicable.

 

 

My details aren’t correct, how do I fix this?

If the details on your policy aren’t quite right, you should direct these to your installer and in turn, these will be passed onto QANW to have rectified and a new policy issued to you if required.

 

 

What is a guarantee?

A guarantee is the installer’s written commitment to you in respect of what faults they will rectify and for how long after the installation has been completed.

All installer’s guarantees look different and you will find very few follow one format and can sometime be included within your contract terms and conditions. You will be required to provide this in the event of a claim being submitted to QANW, so it is important you have this in your file.

 

 

 

I haven’t received my guarantee from my installer, what do I do?

If you haven’t received your guarantee for the recently completed installation, you should contact your installer in order to expedite the issuance of this to you.

However, if you haven’t received your guarantee within a reasonable amount of time and haven’t had any response from your installer, you could contact your local trading standards for further guidance.

 

 

I haven’t had works done to my property but have received a policy, why? 

QANW receives submissions from our members for works which are planned or have been completed; however sometimes works do not go ahead or a slight mistake can be made on the address or other details. 

If you haven’t planned or had any home improvements carried out to your property, please return your policy to QANW with a covering letter to the following address;

QANW
PO Box 26332,
Ayr, Scotland,
KA7 9BJ

 

 

I need to make a claim. 

Please go to the Claims section of our website.