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The No-Cost Renovation Guarantee

What is our Renovation Guarantee?

The Renovation Guarantee is an additional, no-cost coverage available any customer who chooses to hire a 360° Verified Contractor from RenoAssistance to carry out their renovation or construction project (subject to certain conditions). As this is not an "all risks" guarantee or an "automatic" guarantee, there are steps to follow to benefit from it, so it is important to read the terms of the guarantee below.


What Is Covered

Reimbursement of deposits

Up to 25% of the contract value (maximum of $25,000)

Completion of renovation

Up to 25% of the contract value (maximum of $25,000)

Repair of apparent defects

Declared in writing to the contractor no later than 10 days after reception of completed work (maximum of $10,000)

Latent defects or faults

Discovered in the year following reception of completed work (maximum of $10,000)

How it works

1. Hire one of the 360° Verified Contractors referred for your project
2. Complete and send the form titled "Registration for the Renovation Guarantee"
3. Be approved and receive the Warranty Certificate
IMPORTANT: no deposit should be paid before receiving the Certificate
4. Pay the deposit (if required) and have renovations done
5. Acceptance of completed work: Send the certificate of completion and a copy of all the supporting documents within 15 days of the end of the renovation.


IMPORTANT:
This guarantee is additional coverage to the RBQ license bond. Unlike the surety bond, this guarantee is not limited "by contractor" but "by client", so you are guaranteed to be covered for the amount declared, regardless of the number of clients to be indemnified by the contractor.

This warranty is offered in Quebec only.

The client must have returned the warranty registration form and a copy of their contract before the start of the renovation. Any form received after the start of the renovation will be rejected.

Before receiving an amount under the Guarantee, the client must obtain a judgment from an RBQ Administrator in their favour and obtain the amount to which they are entitled. The Renovation Guarantee plan will cover the difference between the amount insured and what the customer has been able to obtain from the license deposit. For example, if a customer has received compensation of $2,000 from the license deposit after paying a $20,000 down payment for a $120,000 project, the Renovation Guarantee plan will cover the difference of $18,000.

Subject to the above conditions. The guarantee is applicable to projects submitted after March 11th, 2020. In the event that a client is refused recourse by the RBQ because the contractor did not have a valid bond following a poor verification by RenoAssistance, the warranty will apply without the client needing to obtain judgment. At this time, the reimbursement of the deposits or the completion of the work will be initiated within 10 days of the presentation of the claim. In the case of faulty workmanship or latent defects, the Parties will agree on the choice of an independent building expert who will determine whether there has been a faulty workmanship or defect and the Parties agree to comply with their decision without possibility of recall. The administrators of the Plan will then decide whether to correct or compensate according to the expert's assessment, subject to the limits of the Guarantee.