Protection for Your Most Valuable Asset
Buying a new home is likely the largest single purchasing decision you will ever make. At Lombard we understand the importance of protecting your most valuable asset. Lombard works with builders to form a lasting business relationship focused on delivering a quality product to the customer.
Who We Are
Lombard is one of Canada 's oldest insurance operations with a history of over 200 years as a Canadian Insurer. Canadian owned and operated, Lombard Canada Ltd. has offices across the country and employs over 700 highly trained and professional insurance staff. Lombard Canada Ltd. enjoys an A.M. best rating of A- (Excellent) and maintains a balance sheet of over $1 billion in assets. Lombard 's resources are well diversified across its multiple lines of insurance.
Home Warranty Insurance
New homes built in BC are protected by 2-5-10 home warranty insurance, as set out by the Homeowner Protection Act of BC and Licensed Residential Builders are regulated by the Homeowner Protection Office. The mandatory warranty insurance includes the following coverage's:
- 2 years on labour and materials broken down as follows:
- 12 months for defects in material and labour for your unit
- 15 months coverage for defects in material and labour for the common property (multi-unit building only)
- 24 months for defects in material and labour for major systems (heating, electrical, plumbing, etc.)
- 5 years on the building envelope, including coverage on unintended water penetration
- 10 years coverage on major structural items
This statutory protection is widely recognized as the strongest and most effective home warranty standard in Canada and is backed by one of Canada 's oldest and most trusted property and casualty insurance operations.
High Quality Standard
Quality builders build quality homes. Lombard applies this standard to all of the builders that we approve for home warranty insurance coverage. Lombard's professional underwriters thoroughly review all applicants and only builders achieve Lombard 's professional requirements are accepted for coverage. We believe that strong track record, quality workmanship, and exceptional customer service are the essential characteristics of Lombard 's builders.
