The enhanced deposit and stage payment consumer protection through the GGF’s ‘deposit indemnity scheme’ covers up to 50 per cent of the contract’s value or £12,500 and offers a much-needed safety net for consumers.
Meanwhile, since the implementation of mandatory Insurance Backed Guarantees (IBGs) for replacement windows and doors in June last year, the GGF has seen an increase in new Members joining the Federation to take advantage of IBG discounts through GGFi, the Federation’s insurance brokers.
The Member discounted rate on an IBG for a window contract up to £25,000 through GGFi is just £10.60; add in the deposit protection cost equating to just 0.2 per cent of deposits taken and it’s clear to see how considerable savings can be made on the overall cost of IBGs.
Brian Smith, home improvement director, GGF, said: “With this new way of saving money added to all the other GGF Membership benefits, joining the Federation for many companies is now a ‘no-brainer’, especially when the annual subscription fees start at just £315.”
The GGFi is also recommended by FENSA, The Guild of Master Craftsmen and other leading industry names to provide the most admin-efficient, market-relevant and fairly priced insurance solutions possible.
Earlier this month the GGF also expressed its delight at the growth of the Federation’s online presence, with a 25 per cent year-on-year increase of visitors to its site in January.
Nigel Rees, group chief executive, GGF, said: “The GGF has come a long way in the last few years with regard to our online profile, and our website statistics are clear evidence of our investment in this area.
“We will continue to develop, where possible, to ensure our Members and our many other audiences get clear and up-to-date information on our activities.”