Are the homes you build protected if the unexpected happened?
Thinking about building condos, multi-family or single family homes? As a builder, you are definitely going to want to look into warranty products to cover what you build. 2-10 Home Buyers Warranty® is the only company that offers two distinct types of warranty products that protect you and your home buyers once the home closes.
Structural Warranty Coverage
Builders can reduce their risk with a third-party structural home warranty coverage. This extensive package not only ensures that you are protected as a professional builder, but also increases the overall value of a home in a competitive market.
To offer a structural warranty administered by 2-10 Home Buyers Warranty (2-10 HBW), builders can apply to become a Builder Member online here. To register for the program, you will need the following:
- General business details
- Federal ID number
- Owner(s) information
- Recent annual volume
- Credit card for application fee
A 2-10 HBW Structural Warranty enables builders to satisfy risk management and enrollment requirements to transfer their risk of qualified structural losses to the warranty insurer. The risk of structural losses may be greater than you think and costly: an average structural repair costs between $75,000 and $125,000 per claim. Enrolling in the program offers a host of benefits, including:
- Insurance-backed, limited new-home warranty protection from frame to foundation
- The largest national new-home warranty program with coverage on homes for structural defects that make the home unsanitary, unsafe, or otherwise unlivable
- A full 10 years of qualified structural warranty coverage from the date of closing
- No mandatory builder deductibles
- A New Construction Home Service Agreement for buyers
- Transferable warranties
- Binding arbitration
Systems & Appliances Service Agreement
A 2-10 HBW and Appliances Service Agreement helps homeowners reduce the overall cost of owning a home by protecting them against unexpected system and appliance breakdowns. Because these products are sometimes referred to as “home warranties,” it’s important to point out to less experienced homeowners that a Systems and Appliances Service Agreement does not replace the need for homeowners insurance.
A Home Warranty Service Agreement covers major systems and appliances that malfunction or break from normal wear and tear. These expensive to repair items, such as air conditioning and heating units, electrical wiring, refrigerators, ovens and dishwashers, will age over time, and repairs are inevitable. A Service Agreement offers protection from these repairs.
When a covered item breaks down, homeowners simply log their service request online in a few easy steps, or they can call our toll-free number 24 hours a day, 7 days a week. The request will be dispatched to an approved and insured contractor in the area. The contractor will contact the homeowners to set up an appointment, or they may call them directly to expedite the process. When the contractor comes to their home, the homeowners will pay a low service fee, similar to a deductible, which varies by state. The contractor makes the covered repairs and bills 2-10 Home Buyers Warrant for the eligible repair and/or replacement.
2-10 HBW offers comprehensive Systems and Appliances Home Warranties to help protect your clients from unexpected repair and replacement costs. Contact us to learn more.