15 Feb 3 Important Facts of a 2-10 Home Buyers Warranty
When buying a newly built home, you may have a home warranty from 2-10 Home Buyers Warranty. This isn’t the same as some of the other warranties you may be familiar with. It’s specifically designed for home builders to provide buyers with the necessary protections.
There are many good features provided by these warranties. Since it may be new to you, make sure you understand the warranty to ensure you know what’s protected, when it begins, and for how long. For example, the 2-10 Warranty provided by Southern Impression Homes starts from the date of issuance of the certificate of occupancy.
We’ll break down some of the notable features, as well as three facts you should understand when getting started.
2-10 Home Buyers Warranty Features:
- “A” rating
- Non-covered items offer refundable service fees
- Coverage specifically for home builders with real estate plans
- Different coverage options
- 24/7/365 customer service phone line
- Online service requests
Fact #1 – Exclusions
Sometimes, when a person hears the word “warranty” they think everything is covered 100% of the time allotted in the warranty. This is rarely the case and there are exclusions with most warranties.
With 2-10 Home Buyers Warranty, you will likely have some exclusions in the contract. It’s common to find specific exclusions spelled out depending on the warranty plan.
Understand the exclusions will help you to know what type of coverage you have. With 2-10 Home Buyers Warranty, you will have coverage for many parts of the home for a set amount of time.
Fact #2 – Some Coverage is Longer than Other Coverage
When you have a 2-10 Home Buyers Warranty, you get three levels of coverage including a 1-year Workmanship Warranty, a 2-year Systems Warranty, and a 10-year Structural Warranty. Each of these types of coverage offers a warranty on specific portions of your home for the set amount of time.
Fact #3 – 48-Hour Initial Service Time
Another fact to understand about 2-10 Home Buyers Warranty is the 48-hour initial service time. The company does try to expedite services if the repair is an emergency and you can pay an additional fee for faster service with a non-emergency repair, too.
The emergency repairs will be defined in the contract and likely will include:
- No electricity or toilet facilities in working condition
- Any system malfunction causing ongoing damage to the home
- Any condition endangering the safety and health of those living within the home
If the repair isn’t a necessity, the initial service will happen within 48 hours, under normal circumstances.
The plans offered by 2-10 Home Buyers Warranty provide many benefits for homeowners. They are a highly-rated company and offer fast service. It’s also a benefit that they will refund any service fees paid for non-covered items.
When you buy a new home and you have a 2-10 Home Buyers Warranty, you’ll have protection for many of the systems in your home.