In this structural agreement, the homeowner is the beneficiary of the warranty policy, while you are the insured party. With a structural warranty from 2-10 HBW, you move that liability off your books and onto ours. The average structural claim costs between $42,000 and $113,000 per claim. Without a structural warranty, you’d be financially responsible for fixing structural problems caused by foundation damage. This means that you’re responsible, by law, for addressing structural claims for a certain period of time. In the US, each state has a Statute of Repose. Soil movement, which is entirely out of your control as a builder, accounts for 80% of structural claims. This includes damage to the foundation caused by soil movement. What types of warranties cover a home’s foundation?Ī builders warranty (also called a structural warranty) from 2-10 HBW covers a home’s foundation against damage for up to 10 years. “What do I do if my foundation develops a crack?” When you purchase a builders warranty from 2-10 HBW, you can give your buyers a confident answer. When homeowners buy homes from you, one of the biggest questions they’ll have is often about their foundation. Does a builders warranty cover foundation damage?Ī builders warranty from 2-10 Home Buyers Warranty (2-10 HBW) covers foundation issues for newly built homes for up to 10 years.
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