When looking to buy a new home, you want it to be safe for your family to live in for many years. Potential issues may arise with the structural integrity of the property even in the best of homes. If dealing with these kinds of issues, having a structural warranty is something that can give you peace of mind and help with the financial burden of fixing the problems.
What some do not understand is the process of claiming your warranty. This article will outline each stage of the claim process.
What is a structural warranty?
A structural warranty is an insurance policy that covers any structural defects that may occur within your home including the foundations, walls, and the integrity of the building’s roof.
These warranties can be taken out over a 10-year period via the builder or through an external third-party warranty provider.
When to make a claim
You might need to make a structural warranty claim if you notice any major issues within your home such as:
- Foundation cracks
- Significant movement in either the walls or flooring
- The roof is beginning to sag or leak
- Problems with load-bearing elements of your home
Addressing these issues should be a priority and they can quickly impact the structural integrity of your home.
Steps to make a claim
1. Review your policy: Before you make a claim and start the process, you should review your current structural warranty policy. You need to understand what is covered, the duration of coverage, and any limitations. Doing so will ensure you have a clear idea of what to expect and prepare you for the next steps.
2. Document any problems: You must gather evidence of the structural issues you claim against. This evidence can be clear photographs, videos, and notes that detail the problem.
3. Contact the warranty provider: You must reach out to the builder or the warranty provider as soon as the issue is identified.
4. Schedule an inspection: The warranty provider will likely send an inspector to assess the damage.
5. Wait for the evaluation After the inspection, the warranty provider will review the inspector’s report and decide whether the issue is covered under your policy.
6. Approval and repairs: If your claim is approved, the warranty provider will arrange for the necessary repairs to be carried out. Ensure that you get a timeline for the repairs and stay in communication with the provider for progress updates.
7. If denied, consider your options: If your claim is denied, review the reasons provided by the warranty company.
The structural warranty claim process can seem complicated but you must remember the goal of a structural warranty is to protect your investment. Understanding the steps involved in a structural warranty can help address any structural issues with peace of mind.
