GGF increases deposit protection to consumers

The improved deposit and stage payment consumer protection through the GGF's deposit indemnity scheme (via GGF Fund Ltd), at up to 50% of the contract value or £12,500, is a valuable sales tool for GGF Members when dealing with their prospective customers.In addition, since the introduction of mandatory Insurance Backed Guarantees (IBGs) for replacement windows and doors in June 2014, the Federation has been pleased to see an increase in new Members joining the GGF, to take advantage of Member discounts on IBGs through GGFi, the Federation's insurance brokers.For example, the Member discounted rate on an IBG for a window contract up to £25,000 through GGFi is just £10.60.Add this to the deposit protection cost which equates to just 0.2% of the deposits taken, then it’s easy to see how considerable savings can be made on the total cost of IBGs.

Brian Smith, GGF Home Improvement Director, 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.”

If you are interested in joining GGF and further details, please email membership@ggf.org.uk, or fill in the “Join the GGF” online form on www.ggf.org.uk. and the GGF Membership team will be in touch with more details.

If you have a comment to make or any information relating to this article please contact the GGF.