Why home improvement deposit protection is more important than you think

home improvement deposit protection

Offering home improvement deposit protection is more important than you might think.

Last month, The CPA conducted a survey of consumers across the UK to gauge their opinions about everything from VAT on home improvements to Insurance Backed Guarantees. One of the most interesting trends to be uncovered by the survey is that 86% of consumers expect a deposit to be protected if it is asked for by an installer.

Why is offering home improvement deposit protection important?

There are a number of reasons why offering home improvement deposit protection is useful for your business. Here are a couple of them:

1. It protects both the rights of both parties

Home improvement deposit protection works in everyone’s best interests; from the installer to the consumer. In the unlikely event of your company folding, deposit protection will ensure that both of your financial rights are respected and that neither of you incur any unnecessary costs.

2. It improves the reputation of your business

As the results of our consumer survey show, offering some form of deposit protection will really help to enhance the overall reputation of your business. Providing your customers with home improvement deposit protection show that you take their financial concerns seriously. This can improve your credibility in the marketplace.

3. It improves the reputation of the industry as a whole

Unfortunately, the home improvement industry still suffers from the effects of the ‘cowboy builder’ label. One of the most effective ways to fight this damaging misconception and help to improve the reputation of our industry overall is by promoting best practice. When it comes to deposits, best practice is making sure that you offer protection with your deposit.

Trusted providers of home improvement deposit protection

Here at The CPA, we provide a range of home improvement deposit protection schemes to trade and consumer customers across the UK. For more information about our IBGs or financial services, please give us a call on 01462 850064 or send us an email.