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Insurance Backed Guarantees

Basement Living give you the peace of mind that when you request an insurance backed guarantee, the Basement Living Contractor who contacts you will be able to offer you a guarantee from CGS.


Sticking a pin into a phone book gives you a 20-1 chance of finding a contractor good enough to be backed by an insurance company authorised and regulated by the FSA.

But if gambling with your house is not your thing and you prefer competence over cowboys then choose a CGS Approved Contractor. CGS offer insured guarantees with the insurance certificate specific to your property and issued by an FSA authorised and regulated UK insurance company. 70% of all companies go out of business within 10 years and though CGS contractors are considerably below the national average because of the quality of the contractors allowed into membership, for a very small one-off premium you can insure against even this eventuality.


Warning: some companies offer “Insurance Backed Guarantees” but all this indicates is an annual insurance by the guarantee company, with the insurance in the name of that company not your house and if it is not paid annually then it collapses.

When comparing quotes, check what you are getting and ask competing contractors which of these they can offer (if any).


1. Actual Insurance Period 10 years.
2. Independently checked for Technical Competence.
3. Health & Safety Competence and Financial Stability.
4. Underwriter Authorised and Regulated by the FSA.
5. Access to the Financial Ombudsman Service.
6. INSURANCE Certificate for EACH property.
7. Security of the Financial Services Compensation Scheme.
8. NHBC & Zurich Approved.
9. Insurance Premium Tax (IPT) applied (as required by law for all genuine insurance).
10. Automatic free assignment on sale of property.
11. Protection against contractor failure for any reason.



CGS Information PDF - Don't Gamble

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