will assure coverage

DAVID VERGE. president of the
New Home Warranty Program of
B.C. and Yukon, announced
recently that the program's board
of directors has appointed a six-

The task force is
expected to include in
its recommendations the
implementation of a
New Home Warranty in
the $100,000 range.

ee
person task force. Their recom-
mendations may result in the im-
plementation of a New Home
Warranty in the $100,000 range.

The intention of the task force is
to create a significantly improved
warranty for new homes by in-
vestigating all aspects of new home
warranty coverage. This will in-
clude monetary limits, claims han-
dling procedures, conciliation and
arbitration procedures, builder
registration and monetary prac-
tices.

Only builders who are new home
warranty-approved can provide
their customers with a perfor-
mance warranty fully backed by
the New Home Warranty Program
of B.C. and Yukon. A survey
recently completed for the pro-
gram by Strategic Development
Services Limited suggests changes
should be considered to keep up to
date with selling values and hous-
ing preferences.

The survey suggested that high
density builders/developers have a
unique market. which requires
specific consideration. The task
force will investigate the merits of
providing a distinct warranty for
multi-family projects with separate
warranty limits, structural risk
assessment and fee schedules.

The task force will conclude its
investigation and report its fin-
dings to the board of directors in
the early fall of 1990 so that rec-
ommendations can be implemented
at the beginning of 1991.

The five-year limited warranty
scheme provides for a 12-month
builder warranty which is backed
by the warranty program and a
four-year structural warranty. At

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present, in B.C., this includes a
deposit loss coverage of $5,000, a
five-year structural loss coverage
of $30,000 and off-site living al-
lowance of up to $3,000 if structu-
ral damage requires temporary
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The task force is expected to in-
clude in its recommendations the
implementation of a New Home
Warranty in the $100,000 range.

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15 - Friday, dune 1, 1990 - North Shere News

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