The foundation warranty has gotten a bad rep amongst the foundation repair clients. This is because, while most companies add and highlight foundation repair warranties as a part of their entire package, only a select few follow up on it. Some foundation warranties are for a period so short that it is virtually impossible to have foundation problems within that duration following the repair. Others add so many hidden clauses to foundation repair that customers don’t know what is covered and what is not. Foundation repair warranties can be a pain. But believe it or not, some companies offer excellent foundation warranties that are worth your money. This article will discuss everything you need to know about foundation warranties to make an informed decision the next time you are in the market for one.
What Is A Foundation Warranty?
A foundation warranty is a document that outlines the terms of coverage for a particular foundation repair job. It includes information about what is covered, the coverage duration, and the warranty provider’s contact information. Most importantly, a Foundation Repair Warranty safeguards you against financial losses in case of unforeseen events or damage to your home’s foundation.
For example, if your home sustains cracks due to heavy rains and the foundation cannot support the weight of the water, a foundation warranty will cover the costs of repairs. In some cases, the warranty may even cover the cost of replacement if the damage is beyond repair.
Foundation Warranty FAQs
#1. What does a foundation warranty cover?
The coverage provided by a foundation warranty varies from one company to another. However, most foundation warranties cover common problems such as cracks, leaks, and settlement. Some companies also offer extended coverage for other damages, such as heaving, sinkholes, and soil erosion. It is essential to check with your chosen foundation repair company what exactly their warranty covers to avoid any surprises down the road.
#2. How long does a foundation warranty last?
The duration of a foundation warranty also varies depending on the company. Some companies offer a warranty for as short as one year, while others may provide coverage for up to 25 years. The length of the warranty is usually proportional to the costs of repairs. For example, a foundation repair that costs $5000 will likely have a more extended warranty than a repair that only costs $2000.
#3. What are the criteria for a foundation warranty to be valid?
For a foundation warranty to be valid, there are usually some criteria that must be met. For instance, most companies require you to have your home inspected by a licensed engineer or surveyor before they provide coverage. This ensures that your home is in good condition and has no existing foundation problems.
Another common criterion is using the foundation repair company offering warranty services. This means that if you have your foundation repaired by another company, you will likely not be covered by the warranty.
Finally, most companies require that you maintain your home according to their guidelines. This usually includes having your home inspected annually and making necessary repairs on time.
#4. Are there penalties for not maintaining your home according to the warranty guidelines?
You may be penalized if you fail to maintain your home according to the warranty guidelines. These can include voiding the warranty or denial of coverage for future damages.
#5. Do home warranties cover foundation?
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Home warranties usually cover the main elements of the structure (walls, foundations, stairs, ceilings, …). It doesn’t directly cover all the issues that might happen to your foundation, but it proves to help in most cases.
#6. What Happens if the Foundation Repair Company Goes Out of Business?
If the foundation repair company you’re working with goes out of business, your warranty may be void. This is because most warranties are valid only as long as the company is in business.
Choosing a reputable and well-established foundation repair company is essential to avoid this problem. An excellent way to do this is by checking online reviews or asking for recommendations from friends and family.
#7. What are the disadvantages of having a foundation warranty?
The main disadvantage of having a foundation warranty is that you will have to pay for it. The warranty cost can range from a few hundred to several thousand dollars, depending on your coverage and duration.
Another disadvantage is that you may have to use the services of a particular foundation repair company to be covered by the warranty. It can be inconvenient if you’re not happy with the company’s services or if they are not available in your area.
Finally, you may be required to maintain your home according to the warranty guidelines to keep the coverage valid. This can be costly and time-consuming, especially if you hire someone to inspect your home annually.
A foundation warranty can provide peace of mind if something goes wrong with your home’s foundation. However, it is essential to carefully consider the costs and conditions of the warranty before making a decision. Is there anything that I miss in the article above? Let me know in the comment section below! Thanks for visiting and reading on Green House Center!