Residential Surety Products

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Overview

Build with confidence

As a residential builder or developer, you take your commitment to your purchasers’ satisfaction seriously. At Aviva, we stand beside you in your commitment to a happy home-buying experience for your customers and to delivering a home that represents your dedication to quality.

Support your new home and land development projects with a full suite of residential real estate surety and surety insurance solutions from the development experts at Aviva.

You’ll benefit from the experience and advice offered by our knowledgeable surety insurance and construction specialists, plus Aviva’s commitment to service excellence means the success of your projects is our top priority.

New home warranty insurance

Whether you specialize in single-family homes, high or low-rise condominiums, or townhomes, you’ll work with Aviva’s experienced and knowledgeable underwriting and technical specialists who can tailor a program that meets your needs and protects you and your customers.

When you choose Aviva as your new home warranty insurance provider, you know you’re providing your purchasers with protection through one of the most established insurance companies in Canada. We have programs to meet all legislated requirements – whether you’re in a mandated province like British Columbia or Alberta, or you’re building in Manitoba or Saskatchewan.

New home warranty insurance

H.O.M.E bonds

If you’re a new home warranty client in western Canada and you’re in the pre-sale phase of your condo development, we can help you reach your pre-sale goals sooner with our Home Ownership Made Easy (HOME) program.

Our Home Bond helps your customer* reduce their need to borrow money or cash investments to pay the entire deposit up front. Our bond stands in place of a portion of their deposit until closing.

*purchasers must individually qualify.

H.O.M.E bonds

Tarion bonds

If you’re building condominiums or new homes in Ontario, you’re probably familiar with the Ontario New Home Warranties Plan Act, administered by Tarion*. This Act outlines the warranty protection that you as the builder, must provide to your customers. To secure your obligation to deliver that coverage, Tarion requires security from you.

Providing security to Tarion to back your deposit and warranty obligations can tie up valuable credit. Aviva can help keep more of your credit free, with bonds that satisfy Tarion’s security requirements. Our team will create a Tarion bond and excess deposit insurance solution tailored to the needs of your project.

*Tarion Bonds are only available in Ontario.

Deposit insurance

Developers know condominium projects are an expensive undertaking. And if you’re building in Ontario*, British Columbia or Alberta, you also know you must hold your purchasers’ deposits in trust unless you have deposit protection insurance in place.

With deposit protection insurance from Aviva, you can access these deposits and use them to your advantage as a source of project financing – reducing your dependency on more expensive financing like bank loans, subordinated loans or equity – which can improve your bottom line.

*In Ontario, deposit insurance is for deposits in excess of the Tarion warranty protection of $20,000 for condominium homes and $40,000 for freehold homes. We also offer deposit insurance on projects that fall outside of Tarion’s warranty coverage, such as condominium conversions and commercial condominiums.

Deposit insurance

Subdivision bonds

If you’re a residential developer, you know that municipalities may require a letter of credit to guarantee your land development and site obligations. Some municipalities will accept a subdivision bond instead of a letter of credit. Aviva can help.

Building envelope renovation warranty insurance

As a renovation contractor or building envelope consultant, you know a new building envelope represents a significant investment to condominium and commercial building owners.

Give your customers confidence knowing their investment is protected for the long term with Aviva’s building envelope renovation warranty. Our envelope warranty includes two-year material and labour protection and five or ten year water penetration protection for your building renovation project. We also meet the legislative requirements mandated in British Columbia.

Your customers will appreciate the protection and peace of mind that Aviva’s building envelope warranty insurance provides.

Building envelope renovation warranty insurance

Construction insurance for your project

Prime Builder

With packaged protection that eliminates the need for multiple policies, Prime Builder offers specialized coverage created just for the construction industry, which canbe customized to build the perfect construction insurance for your business.

To learn more about Prime Builder, download the brochure or talk to your broker today.

Prime Builder

Construction insurance for your business

Prime HardHat

Get value, protection and peace of mind when you’re covered by all-in-one insurance with Prime HardHat from Aviva, designed to meet the specific needs within many construction trades.

You can choose the full package with optional enhancements or choose select coverage – all in a single policy which can help eliminate coverage gaps.

To learn more about Prime HardHat, download the brochure or talk to your broker today.

Tools and Resources

Prime Builder
Prime HardHat
Deposit Insurance