A study of North Texas foundation repair companies found that their average life was only 4.5 years. If a company lasts only 4.5 years, then your lifetime warranty is for the company’s life rather than your home’s life!
Perma-Pile Foundation Repair was the first company to offer a “lifetime warranty”. Perma-Pile advertised their warranty as being secure by cash in the bank. When Perma-Pile declared bankruptcy, they went away, and so did their money in the bank. Tens of thousands of warranties issued by Perma-Pile are now worthless.
See the foundation repair home warranty in writing before you sign the contract. Here are some things to watch out for, including conditions and limitations.
For example:
- You must provide a plumbing static test to get or keep your warranty
- Your warranty becomes void if you have plumbing leaks
- Your warranty becomes void if you build a swimming pool
The more conditions a company has in its warranty, the more ways to deny warranty claims.
Some companies offer foundation repair home warranties backed by insurance policies. These policies are usually limited to 10 years and always have a maximum payout, typically $10,000. So while it is a warranty, it may not cover the cost to fix your foundation repairs if they fail.
Home warranties backed by third-party entities, such as The Texas Foundation Warranty Trust, are the best. The Texas Foundation Warranty Trust supports companies that are under its umbrella. The Texas Foundation Warranty Trust will assume the warranty obligations of a covered company.
If you have foundation problems or have questions about foundation repair home warranties, call us at (214) 467-9700 or request an estimate today!
