The elephant in the room

The Elephant in the Room


The 'elephant in the room' is the unspoken question that, research shows, goes through homeowner's minds when they are asked for a deposit and that is: 'That's all well and good, but what happens to my deposit money if you stop trading before you even start the work?'

A fair question - and now Guild members have, at their fingertips, a solution that removes this fear before it even enters their clients head!

Feedback from contractors using this is that using the Guild of Builders Deposit Protection Guarantee insurance backed service is proving very successful at putting their clients' minds at ease regarding their deposit payment and, as a result, this is helping them to secure more contracts.

One contractor has told us: "We recognised that this is an area of concern and as such we have in the past refrained from asking for a deposit - which has not always been helpful to us as a company".

"However, the protection of the insurance backed guarantee coupled with the fact that we are able to use the Guild Guaranteed Builder Logo has combined nicely to not only give our clients peace of mind but to also give us an edge over our competitors".

Another builder said "After using the guarantee information for a few weeks we have so far seen a steady increase in the amount of contracts won against the number of quotations given out when the guarantee was included. Our work load has increased about 20-25% and we have increased the price for our works now, putting us on the more expensive side of the quotes people receive and still continue to win the projects which we feel is the result of peace of mind the guarantee package offers".

The latest comment from a builder is "We have been using the insurance backed guarantee scheme since its inception and in doing so we have found that it helps to breed and establish an air of confidence that the client has in us as their contractor. In turn our contracted works to quote ratio has increased by around 25%. We firmly believe that the gain in turnover from this marked increase in contracts won vastly outweighs the relatively small cost of the scheme".

While Guild of Builders and Contractors membership helps give potential customers peace of mind, for many consumers there is still uncertainty about handing over large amounts of deposit money to a company they've only recently met. They may also have some trepidation about what happens if something goes wrong, especially if the person they've hired retires, becomes ill or closes their business. As long as the guarantee has been entered into and the small premium has been paid Home Improvements Guarantee Limited helps to alleviate those fears, so that if for any reason "Guaranteed Members" cannot fulfil their contractual obligations, Home Improvements Guarantee Limited can step in to ensure the work gets done.

We are sure that the Guaranteed Builder scheme will improve the public's trust in our members as it answers one of the fundamental doubts the public have about the integrity of builders.



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