New Home Warranty
Industry statistics suggest that one out of every 100 homes built may experience a major structural repair that could cost the homeowner a significant amount of money. This is the kind of problem that many home buyers are concerned about. How are they going to be protected? Lux Residential Warranty Program Inc. (LRWP) New Home Warranty addresses their concerns.
Our new home warranty program is offered by Member Builders who have been thoroughly screened by our industry experts. All of LRWP Member Builders have a proven track record. All of our Member Builders lead the industry in QUALITY and CUSTOMER SATISFACTION.
Each Member Builder has consistently demonstrated that each of their homebuyers will receive the best built residential unit and finest aftermarket customer service possible. Builders need to be assured that their valued customers are going to be taken care of after the first year. There is no better way to safeguard the home buyer from the burdens associated with high-priced and unexpected repairs than with the Lux Residential Warranty Program.
LRWP stands by their Member Builders and their valued customers.
LATENT DEFECTS WARRANTY
Year One – Materials and Workmanship
- The program warrants that, during the first year, the Homeowner will receive if necessary repair and workmanship as defined in the Program’s Warranty Certificate. Program covers up to a maximum of $35,000 for materials and workmanship involved covered by the program including those supplied and installed by the registered builder, it’s employees and those trades and others contracted directly by the registered builder.
MAJOR STRUCTURAL DEFECTS WARRANTY
Years One to Eight – Major Structural Defects
- Major structural defects affecting the load-bearing portion of your new home are protected for the entire eight year period up to a maximum of $35,000.00 per residential unit. In the event that the home owner is required to move out while major structural repairs are under way, the warranty allows an additional relocation expense up to $3,500.00.
The maximum aggrigate liability to LRWP for the Latent Defect Warranty and the Major Structural Defect Warranty shall not exceed a total of $35,000.
FOUNDATION WATER PENETRATION LIMITED WARRANTY
Lux Residential Warranty Program has partnered with a leading manufacturer and installer of a proprietary water protection barrier for basements, in order to ensure that your basement will be free from leaks, dampness, mould and mildew and musty odours for up to eight (8) year period. Builders are encouraged to call LRWP for full details.
HOME BUILDER BENEFITS
The average cost for the repair of a major residential structural defect is approximately $35,000 and one out of every 100 new homes built today will experience a structural defect of that magnitude. This is the kind of information that many of the new home buyers are concerned about. The Lux Residential Warranty Program has been specifically created to address these concerns on behalf of the Builder. With this program the Builder now can offer the Lux Residential Warranty Programs to their Purchasers to further enhance their product and protect the Purchaser.
As a home builder you need to know that these problems can arise and that there is a way to safeguard yourself and your valued customers from the burdens associated with high-priced and unwanted repairs.
In this time of high rising energy costs, reduced consumer confidence, and public concern about growth issues, there is no better time for a builder to take advantage of the Lux Residential Warranty Program and it’s distinction in the market place.
If the home is sold during the warranty period, any coverage remaining on the Lux Home Warranty Program stays with the benefit of subsequent buyers.
LRWP NEW HOME WARRANTY MEMBERS BENEFITS
Lux Warranty Program
Year One – Materials and Workmanship.
- The program warrants that, during the first year, the Builder will repair Defective Materials and Workmanship as defined in the Program’s Warranty Certificate. The program will ensure that the necessary work is complete up to a maximum of $35,000 for Materials and Workmanship covered by the program including those supplied and installed by the Builder, its employees and those trades and others contracted directly by the Builder.
Years One to Eight – Major Structural Defects.
- Structural defects affecting the load-bearing portion of your new Home are protected for the entire eight years of your policy period up to a maximum of $35,000.00 per residential unit. In the event you are required to move out while major structural repairs are underway, the Warrant allows an additional reasonable relocation expense up to a maximum of $3,500.00.