Importance of Having a Warranty For Your Property

Posted by Build Warranty Group on 11th October 2020 -

There are a lot of things that need to be considered while investing in a property. As this is a huge investment, as a Developer or Owner you want it to be the best investment for you that will help you gain value and profit in the long run.

While buying any form of property, be it residential buildings, housing developments or any commercial premises, it is necessary that the Developer of the specific property provides the owner or buyer with an assurance that the property in which he is investing is worthy in the long run. This can be in the form of a building warranty that is an comprehensive insurance policy which provides the buyer with the peace of mind that the property he is investing in, is constructed to a high standard.

The buyers that invest in a specific property, especially when it is new, will look to reassured by the warranty. This type of 10 year warranty that covers standard aspects like structural defect to the foundations, walls and roofs including the entire waterproof envelope. Choosing the right warranty cover is the key to it. While buying a new home, having a home warranty will prove to be great protection against some of the unforeseen and expensive repairs or rebuild.

Difference Between a Home Warranty and Home Insurance

A warranty is sometimes seen similar to home insurance but that is not the case. Typical home insurance covers certain things like hail, fires, property crimes, and other types of water damage. Whereas, a home warranty is typically a policy that is only between the owner of the home and the company that provides the warranty. Some companies (like us) before offering a warranty, provide a thorough evaluation of your project to ensure the right warranty cover is offered to you. This provides complete peace of mind against the various risks that an owner might have to encounter in the near future. 

A home warranty is a reassurance for the buyer whereas it provides the seller with the needed measure of protection against any serious construction defects that may arise after the sales have been completed.

Benefits of Warranties

A structural defect warranty, be it for residential or commercial properties, they come with a lot of benefits. This enables an owner to safeguard his property against the unforeseen and expensive bills, giving peace of mind for the future. A warranty is perfect for all those owners who do not have the financial resources should the unforeseen happen. In the event of a claim the Insurance Provider offers a claim resolution service to ensure the issue is resolved quickly and with minimal hassle to the Owner.