Toronto, Sept. 14, 2017 (GLOBE NEWSWIRE) — Great Gulf, one of North America’s leading homebuilders is pleased to announce that it will purchase, at no cost to home buyers, Westmount Guarantee Services Inc.’sWestmount Protect deposit protection insurance1 for all new Great Gulf homes in Ontario to insure the amount of the deposit not covered by Tarion Warranty Corporation2..
Tarion Warranty Corporation only protects the first $40,000 of the deposit on a freehold home purchase. Recognizing that in today’s residential real estate market the average deposit may exceed this amount, Great Gulf is giving home buyers the added benefit of Westmount Protect deposit protection insurance to cover the balance of each new home deposit and provide added peace of mind.
Great Gulf President Christopher Wein explains, “We’re always looking for new ideas and new innovations to provide our home buyers with the best possible options. We pride ourselves in building homes to the highest possible standards of quality and design while ensuring that our purchasers have peace of mind when making a major investment commitment. We are delighted to offer this advantage to our customers so that they may benefit from the serenity of knowing their initial investment is protected.”
Great Gulf will provide Westmount Protect deposit protection insurance with each new home purchase transaction launching immediately with the new Westfield community location in Brampton, Ontario.
About Westmount Guarantee Services Inc.
Westmount Guarantee Services Inc. is the leading provider of deposit insurance and Tarion Warranty Corporation security to condominium developers in Ontario. With more than 75 years of collective deposit insurance experience Westmount Guarantee strives to develop new insurance and surety solutions to provide peace of mind to Ontario builders and purchasers. Today, Westmount Guarantee is proud to offer Westmount Protect Deposit Protection Insurance and provide freehold home buyers with the peace of mind that the full amount of their deposit is protected. Westmount Guarantee Services Inc. is an Ontario insurance brokerage licensed by RIBO (the Registered Insurance Brokers of Ontario).
About Great Gulf
Established in 1975, the Great Gulf Group of companies including Great Gulf Homes an international award-winning, low-rise and landmark high-rise residential developer providing 50,000 families with places to call home; Ashton Woods Homes, the 3rd largest private builder and 18th largest in the U.S.; First Gulf, an innovative market leader in sustainable, accessible and transit-oriented commercial developments and large scale design-build industrial facilities; Tucker HiRise, a leading construction management company, specializing in the construction of high-density, mixed-used projects; H+ME Technology, a precision engineering panelization manufacturing facility; and Taboo Muskoka, one of Canada’s top-ranked golf courses, is one of North America’s premier real estate organizations. With major projects in Canada and the United States, the company’s fully-integrated activities span the entire real estate spectrum.
1 Westmont Protect deposit protection insurance is underwritten by Aviva Insurance Company of Canada.
2 Tarion Warranty Corporation administers deposit protection as provided under the Ontario New Home Warranties Plan Act.
For more information contact:
Madeline Zito, Vice President Public Relations
B 416 744 2222 C 647 938 1851
Jim Emanoilidis, President
Westmount Guarantee Services Inc.
647 499 8249 x 201
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/edb2fc10-651a-4bdd-bdc8-85a93d501987
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/995f14c5-804e-48b2-9229-c930b9a9f877