Recent news stories have brought to light a disturbing trend that some local builders, in an effort to save money, have not been properly protecting their customers.
Crimson Cove Homes is proud to acknowledge that it is a member of the Alberta New Home Warranty Program (“Program”) with one of the highest member ratings possible. Crimson has always included our customers in the Program’s Pre-possession Insurance plan. This is optional coverage that we pay an additional premium for, but do not charge our customers. This ensures that our customers are always covered. Other builders have chosen to not to pay for this additional coverage in an effort to save money, but we have always felt we have to do the right thing for our customers.
Per the Program’s website, the Pre-Possession Insurance plan consists of:
“Pre-possession Insurance is a combination of Deposit Insurance and Home Completion Insurance. This means that in the event of default by a Builder Member, the purchaser’s investment is covered from the time a deposit is made and ends upon the mandatory warranty commencement date. Purchaser deposits are insured for 20% of the total home price, excluding land, to a maximum of $100,000.”