Warranty Information - Foundation Assure Warranty
The Foundation Assure Warranty is designed to protect you from catastrophic failure of your foundation walls. Most homeowners may not know that their foundation is not protected under regular homeowners’ insurance. This means that a catastrophic collapse of your foundation wall could cost you tens of thousands to repair while making your home unlivable. To learn more about our warranty and what it covers continue below.
The warranty period for the Foundation Assure Warranty is designed to help keep you protected no matter how long you plan to stay in your current home. The term of the warranty ends with one of the following, whichever occurs first:
When the term selected expires as measured from the “Warranty Purchase Date”
If the Warranty is transferred to another party.
Transferable Foundation Warranty
The foundation assure warranty is designed to protect your home even after you sell it. Our foundation warranty is transferable to new owners if you sell the home. At the time of the transfer the warranty owner must notify Foundation Assure of the transfer to the new owner. At this time our team will perform a new inspection at no charge to the new owners of the property. This is to ensure that the foundation has had no drastic changes before the transfer of the warranty.
What Our Foundation Warranty Covers
Total Collapse of a Foundation Wall
The following is a list of Covered Events that may cause the Foundation to collapse:
Broken Sewer Line
Negative grade towards the structure
Damage due to frost
Faulty gutters or downspouts
Faulty Drain tile
Vibration caused by trains or nearbby roadways
Neglect of foundation maintenance
Age of the structure
Null and Void Events
In the event any of the following occur, the Warranty will be unusable until the warranty provider performs an inspection to determine there is no significant damage.
Any collapsed foundation as a result of a tornado, flood, earthquake, or mine subsidence.
Any damage caused to the foundation as a result of a fire to the structure.
Any explosion that has occured at the covered property.
*Disclaimer: All warranty statements on the website are subject to change. The warranty details are governed by the terms of the warranty contract.
*Definition: Collapse, Cave In or Subside means all or part of a foundation wall has given way or fallen to pieces which is equivalent to one masonry unit or larger causing outside elements to become exposed.
*Definition: Foundation means the lowest above the footing load-bearing part of a building, typically below ground level of the structure of your home.