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A Look at Structural Claims

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A Look at Structural Claims

  1. 1. A LOOK AT STRUCTURAL CLAIMS By 2-10 Home Buyers Warranty®
  2. 2. STRUCTURAL DEFECTS And you should know... • By state law a builder is responsible for the property for up to 10 years. • 80% of structural defects are due to soil movement and are typically out of a builder’s control. • 1-in-4 homes in the United States experience some structural distress over their lifetime, and 5% of all homes experience major difficulties. are a serious occurrence in new construction.
  3. 3. AND ARE NOT COVERED BY HOMEOWNER’S INSURANCE OR A GENERAL LIABILITY POLICY*. STRUCTURAL DEFECTS COST AN AVERAGE OF $42,000 Between 2000 and 2012, the warranty insurer for 2-10 HBW paid $112 million in construction defect claims. *Check your policy for coverages.
  4. 4. Age of Home: 9 years, 1 month Distress: Minor interior distress; Soil voids up to 12 inches discovered when the plumber repaired a broken waste line. Unsafe. The soil no longer supported the concrete family room floor. Cause: Inadequate soil compaction. Cost: $28,600 CLAIM #1
  5. 5. THE RESULT Contractors had to fill the 12 inch void.
  6. 6. Age of Home: 8 years Distress: Chimney leaning with horizontal cracking. Unsafe. The chimney may potentially collapse and fall through the roof. Cause: Inadequate framing. Cost: $47,000 CLAIM #2
  7. 7. THE RESULT Chimney had to be rebuilt.
  8. 8. Age of Home: 1 year Distress: Reported dip in floor near back right corner of family room. Unlivable. Deflection in the floor interfered with operation of patio doors. Cause: Damaged particle board in floor joist. Cost: $61,000 CLAIM #3
  9. 9. THE RESULT Particle board and floor joists were repaired and patio doors were replaced.
  10. 10. • Claims 1, 2, and 3 totaled $136,600, of which the builder and homeowner paid nothing for the necessary repair. • Cosmetic repairs in all 3 claim scenarios were covered under the 2-10 HBW Structural Warranty. • Whether the claim happens within the first year or in the ninth year, coverage with the 2-10 HBW Structural Warranty begins day one. STRUCTURAL WARRANTY 2-10 Home Buyers Warranty Benefits of the
  11. 11. Can your business survive a $42,000 structural defect? Call today to find out how you can place the 2-10 HBW Structural Warranty on your new home. 855.523.6422

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