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Question DetailsAsked on 4/8/2013

how good are foundation warranties?

I purchased a house with a foundation warranty, but it seems to be limited. How good are foundation lifetime warranties?

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As with any warranty, it is only as good as the product it backs and the reputation of the provider. If the warranty was provided by the manufacturer of the foundation membrane, then not worth much unless it includes removal of fill and equipment and labor to repair any leaks, which is probably 80% of the cost. If it covers full installation including equipment and labor, then it is as good as the warranty supplier. A few home warranty companies and some contractors that provide warranties are going to stand by their warranty, a lot are not worth the paper it is written on because they are either too hard to get hold of (can you say Bangladesh or India call center ?) and get onto a repair, or because they try to find any excuse to say the warranty does not apply in your case.

Also, the warranty is probably pro-rated after a fairly short time - meaning as years go on, the percentage of replacement cost decreases. Therefore, the older the waterproofing is (when it is more likely to leak) the smaller amount the warranty covers. Warranties are also commonly limited to the original cost, so they do not factor in inflation or the cost of incidental damage (like interior water damage) caused by the failure.

As with any repair or construction work, the value of the job depends on a qualified and conscientious contractor and quality materials - if you don't have that, then any warranty will at most cover some of the repair cost, but you will still have the issue of dealing with the failure and its consequences (leaks, flooding, etc).

Answered 7 years ago by LCD




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