We’ve got you covered from day one
Our optional pre-possession insurance protects you from the moment you pay the deposit until you take possession of your completed home — beyond Alberta’s mandatory 1-2-5-10 year coverages.
Single-family home construction
Pre-Possession Insurance for single-family homes protects you from the hardship of a builder default no matter where you are in building a new home.
Pre-Possession Insurance combines i) Deposit Protection Insurance and ii) Home Completion Insurance:
Before building begins
Deposit Protection Insurance protects the payments you made to secure your building commitment until the building begins, up to a maximum coverage of $100,000; however, we recommend that you confirm with your homebuilder the amount of coverage you have specific to your purchase agreement.
Next, Home Completion Insurance takes over to protect your investment during the time your home is under construction until you take possession.
Multi-family home construction
Deposit Protection Insurance for multi-family home construction projects protects your deposit. Your deposit is protected (in the event of a homebuilder default) from the time its paid until you take possession of your new home, and your home warranty insurance commences. Deposits are protected to a maximum of $50,000 — however, please confirm with your homebuilder the amount of coverage you have specific to your purchase agreement.