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New Builder Application
Travelers Canada takes into consideration the builder’s track record, technical expertise, financial capacity and after sales customer service. Only those builders who meet our stringent underwriting criteria are approved as member builders by Travelers Canada.
If you would like to apply to Travelers Canada, please contact one of our Underwriters to request a Builder Application. - Please note that the Builder Application is not available online.
Click here to view our Staff Directory.
Renewals for Existing Builders
All builders are granted approval for a 1-year term with Travelers Canada. Every subsequent year you plan to continue building, have a home still under construction or any unsold units, you will be required to complete the renewal process with Travelers Canada. This renewal will grant you another 1-year term of acceptance that is required to remain licenced and in good standing with the Homeowner Protection Office (“HPO”). Travelers Canada will automatically forward a letter to the HPO, confirming your renewal, as required to renew your license.
A separate renewal will have to be completed with the HPO office and will come directly from their office (www.hpo.bc.ca ). The Travelers Canada renewal forms are mailed out 2 to 3 months in advance of your expiry date. This should give you ample time to submit the documents for renewal and allow us enough time to underwrite your file and prepare terms for the coming year.
If you have any questions regarding this process, please feel free to contact the Underwriter for your area. (Click here to view our Staff Directory)
Equity EdgeTM New Home Deposit Bond (British Columbia)
The Equity Edge™ New Home Deposit Bond is one of the many Travelers Canada residential real estate products specifically designed to assist you with one of the most exciting purchases you will make.
Equity Edge is a surety bond available to purchasers in “pre-sale” development projects where a member builder chooses to accept this Bond as a portion of the deposit required by the Agreement of Purchase and Sale.
This facility assists purchasers in meeting their deposit requirement without having to liquidate investments, withdraw RRSP funds, or seek interim financing. Applications are reviewed to confirm that the applicants have the equity to support the requested bond amount and that they have the ability to complete on the purchase.
The Bond does not reduce the final purchase price of the new home. It is a means of deferring the payment of a portion of the deposit until the completion of the project.
The Bond can replace up to half of the final portion of the total required deposit. Travelers Canada requires a purchaser to contribute a minimum deposit of $10,000, with the maximum bond amount issued being $100,000. Only one bond is allowed at a given time for a purchaser or household.
If you are interested in Equity EdgeTM, please contact the Equity EdgeTM Underwriter at (800) 555-9431 or tphelan@travelersguarantee.com.
How to Make a Claim under the Home Warranty Coverage
If the homeowner becomes aware of a defect in materials and labour, a defect in the building envelope, or a structural defect, for which Travelers Canada provides coverage pursuant to the warranty certificate:
Within a reasonable period of time after the discover of a defect and before the expiry of the applicable home warranty insurance coverage, the homeowner must give to the builder and Travelers Canada with WRITTEN NOTICE in reasonable detail that provides particulars of any specific defects covered by the home warranty insurance
This notice must be provided on or BEFORE the expiry date of the applicable home warranty coverage for the new home.
If you have any questions or concerns, please do not hesitate to contact our office at (604) 682-3095 or Toll Free 1-800-555-9431.
