Please note that Renewable Energy Assurance Ltd (REAL) is not an insurance company. REAL is the administrator of the Renewable Energy Consumer Code (RECC). Consumers will not be covered by insurance unless you have registered their installation with an insurance company or other provider. You must inform consumers how their deposits and warranties will be protected.
There are various insurance products on the market that comply with the sections 6.3 (deposit protection) and 8.1 (warranty protection) of the Code. You can find a list of known providers here.
The Deposit and Workmanship Warranty Insurance (DAWWI) Scheme, provided by Quality Assured National Warranties (QANW), is one such product. RECC has negotiated a competitive package with QANW and only RECC members can access this Scheme.
DAWWI protects deposits in case you cease to trade before you deliver the goods to be installed. Of course this is unlikely to happen, but unfortunately it does from time to time. It also protects the written workmanship guarantee that you provide consumers when the installation is complete. Standard deposit cover is 25% of the contract value but it is possible for QANW to provide cover for up to 60%. This is at QANW’s discretion and you should contact them directly for more information.
You will be required to pay a fee for the insurance cover in respect of each individual contract that is registered onto the Scheme. You can find pricing information here.
Before you can use the DAWWI Scheme you will need to register your business with QANW using the link below. QANW complete a number of checks to ensure the financial stability of a business but provided that you are accepted onto the Scheme all you need to do is to promptly log the contracts that you agree with your customers, and also register the completion of the installation. You will be billed by QANW on a variable fortnightly Direct Debit based on the contracts registered in that period.
Please be assured that RECC derives no benefit, financial or otherwise from QANW.