What is deposit protection?

When it comes to home improvement projects, paying a deposit upfront is common practice.

However, this can be a risky move if you don’t have deposit protection insurance in place.

At The CPA, we offer deposit protection schemes that act as insurance for the deposit you initially pay for work to be carried out on your home.

These schemes typically cover up to 25% of the agreed price with your chosen home improvement company, or up to £7,500, whichever is lesser.

The deposit protection ensures that your money is protected in the unlikely event of the installation company folding due to bankruptcy, retirement, or death.

While most home improvement installers arrange deposit protection, it’s important to check that your chosen builder or installer offers this protection before work starts on your home.

The deposit protection schemes generally cover you for up to 90 days from the date of initial deposit payment.

The CPA holds an exclusive database of certified, CPA-member tradesmen who can offer you a quality deposit protection scheme, giving you extra peace of mind about your investment.

By choosing a CPA member to complete your home improvement project, you are selecting a tradesman whose standard of work has been checked and verified, and you can be confident that your deposit will be secure throughout the process.