Connecticut Insurance

Direction: about 14 years, the National Association of Home Builders, a program that would allow safeguards on new houses. The objective was to stem the flood of consumers schlampige indignation over the treatment and Fly-by-night owners, never seemed to be something good.

About 14 years, the National Association of Home Builders, a program that would allow safeguards on new houses. The objective was to stem the flood of consumers schlampige indignation over the treatment and Fly-by-night owners, never seemed to be something good.

Under the program, the buyer should no longer feel like a victim. If something has been wrong - a leaking roof, for example - and the owner refused to surrender or activity was a guarantee, is known as the holder Home warranty and supported by an underwriter insurance, and benefit to correct the defect.

The policy was quite simple. A few small mistakes in handling poorly seated, as doors or windows, would be one year, mechanical systems for two years and major structural problems in 10 years. Coverage would remain in force, regardless of how many times a house was sold during the warranty period.

The premium would be in the form of a fee, about $ 300 per household. The costs would be in principle, by the owner would be guaranteed prescreened company, the programme before it is allowed.

The owners guarantee programme was for more than a decade and several other companies now offer almost identical to the coverage. Still, few know the buyer to ask if coverage for the construction.

If a buyer a sure guarantee of a new house, apartment or condominium if independent, should seek? What happened since the guarantee was the early 1970’s? Have there been changes in policy today attractive, or other protection mechanisms, reducing the need?

How can a buyer must be deeply with the guarantee depend whereabouts of the house. In the north-east, where the code of regulations and close the implementation of practices and all buildings where soils are less volatile probable that future major structural problems, the need is probably minimal.

It explains why tens of clients in countries such as New York and Connecticut, where participation in each building program warranty is optional, have withdrawn from participation, without significant impact on turnover or complaints from consumers.

In Connecticut, only 30 owners are registered in the owner’s home warranty program, compared to 50, when the program began, Richard Davis, director of “Home Builders Association of Connecticut, said. No more than 100 construction workers in New York State are among the program, compared to 300 over 10 years, after Robert Wieboldt, Executive Vice President of the New York State Builders Association.

The avantages’’s’est proved to be questionable,’’said Wieboldt. Some buyers”deal, began the reasons why an architect had for the program. They ask: “Why did he need? Is not everyone has his job?”Mr Wieboldt also said that the owners of other objects, such as washing machines freely , Offered them a better margin for sale the same price.

And consumers do not have many problems with their new houses. Despite a huge Baubooms in recent years, in Connecticut,”we still have about six or seven calls per month on new domestic problems,’’said Timothy West, Vice Chief of General Staff of fraud division of the State Department of Consumer Protection.

Similarly, New York State, Marissa Piesman, Assistant Attorney General Federal Real Estate Financing Bureau, said his office receives relatively few complaints relating to construction.

However, real estate, lawyers say that the security is always excellent protection for the money. It is always a client an average of $ 300 to $ 400 per household, and it means, builder and his work, it is subject to scrutiny in order to meet the requirements of insurance underwriters.