Log Home Warranties
Congratulations on your decision to purchase a new custom log home by M&H Wood. A new home is likely the largest investment of your life. Therefore, we encourage you to carefully research all aspects of your new home purchase and to seek appropriate professional advice. In order to receive the benefits of home warranty coverage from Travelers Canada, consumers must purchase a new home built and sold by one of our approved builders. Prior to signing an agreement of purchase and sale, contact Travelers Canada to verify that your proposed builder is registered and that home warranty coverage has been issued on your prospective new home.
New Home Buyers Protection Act – strong protection for new home buyers
The New Home Buyer Protection Act and Regulations came into effect on February 1, 2014. In order to obtain a building permit for a new home, all residential builders must provide proof of 1-2-5-10 Year New Home Warranty coverage from an approved warranty provider. For further information about the Act and other bulletins and resources offered by the New Home Buyer Protection Office, please contact their office at: 1-866-421-6929 or visit their website at www.homewarranty.alberta.ca.
What is 1-2-5-10 year new home warranty coverage?
The Act is a consumer protection statute designed to ensure that all new homes built and sold in Alberta have a minimum level of insurance against certain prescribed construction defects. Home warranty coverage is the insurance contract issued by the warranty provider in favour of the new home buyer. The insurance contract must stipulate the following coverages: • One year for defects in materials and labour • Two years for defects in materials and labour related to delivery and distribution systems (which include plumbing, gas, heating, electrical and air conditioning systems to which the Safety Codes Act applies) • Five years coverage for defects in the building envelope (A warranty provider must offer the option to purchase two years of additional coverage for defects in the building envelope) • Ten years coverage for structural defects
Coverage limits: Single Family Dwelling Unit – the lesser of the purchase price paid to the builder (excluding land value)and $265,000.
The Travelers Canada Difference
Stringent underwriting
Travelers Canada thoroughly reviews all builder applicants, focusing on track record, technical expertise, financial capacity and after-sales customer service. Only those builders who meet our stringent underwriting criteria, construct quality homes and carry out timely after-sales service, are selected to offer Travelers Canada home warranty coverage. In order to further ensure quality construction, our technical staff and/or external consultants approved by us review certain components of all new home construction prior to and during actual construction. These reviews are designed to ensure that critical components of the new construction meet Travelers Canada’s technical requirements and other industry standards.
Technical support and claims handling
Our experienced in-house technical staff help manage construction risk by providing unsurpassed technical support to our builders, developers and their consultants. We also have knowledgeable, full-time claims staff who will use their experience to promptly and accurately adjust claims in accordance with the New Home Buyer Protection Act.
Home warranty documentation
Our approved builders are responsible for having their new home buyers sign and date a Warranty Commencement Date Certificate at the time of either the title transfer or the actual occupancy of the home (whichever is earlier). Upon receipt of this completed certificate from the builder, Travelers Canada issues the owner a 1-2-5-10 Year New Home Warranty Insurance Policy. Be sure to read this document carefully and keep it in a safe place. It explains home warranty coverage and the process for reporting defects in your home or common property. If you have questions or require clarification, please contact Travelers Canada.
Committed to excellence
Our experienced in-house technical staff help manage construction risk by providing unsurpassed technical support to our builders, developers and their consultants. We also have knowledgeable, full-time claims staff who will use their experience to promptly and accurately adjust claims in accordance with the New Home Buyer Protection Act.
Travelers Canada is a . . .
• Multi-line insurance provider in Canada
• Home Warranty Group that currently supports over 1,800 residential builders and developers throughout Western Canada and is the largest provider of new home warranty in British Columbia
• Member of Canadian Home Builders Association, Urban Development Institute, Independent Contractors and Business Association and Vancouver Regional Construction Association
• Part of The Travelers Companies, Inc., a leading provider of property casualty insurance for home, auto and business and: – A component of the Dow Jones Industrial Average – The largest writer of surety bonds in North America – servicing over 5,000 construction clients across North America, including 650 in Canada. – An employer of approximately 30,000 people in Canada, the U.S., the U.K., Ireland and Brazil. – An enterprise with total assets of $105 billion, shareholders’ equity of $25 billion, and total revenues of $27 billion, as of Dec. 31, 2014.