There are several avenues that are available to homeowners to get insurance help with the cost of foundation repair. Some of the avenues include homeowner’s insurance, builder’s insurance, home warranty insurance, and special foundation coverage policies. All the avenues have similar paths.
- Homeowner’s insurance coverage is rare unless a special rider is purchased, and it is expensive. This type will cover damages to the foundation caused by sewer leaks or other water related issues under or around the foundation.
- Builder’s insurance is issued on new homes for usually the first 10 years. If the foundation settles more than a normal tolerance, the builder’s insurance pays for the repairs.
- Home warranty insurance is usually purchased when buying a home and covers foundation problems for the first 10 years from date of purchase.
- Special foundation coverage insurance can be purchased at any time but usually has a coverage limit of $10,000.
For any of these types of insurance, to have a successful claim, there are specific procedures that must be followed.
If you suspect a foundation problem, your first step is to have a Certified Foundation Repair Specialist inspect your home. Once a problem is confirmed, the next step is to hire an independent structural engineer. Dura Pier can recommend several engineers who will perform a detailed inspection including a digital elevation survey, and then will design the correct repair plan. Once you have the plan, you should get three estimates based on the plan, and then send the engineer’s report with the three estimates to your insurance provider.
The insurance provider will probably want to have their own engineer inspect before paying the claim. The insurance engineer’s purpose is to protect the insurance company, and that is not usually in your best interest. It is very important to have your own independent engineer inspect prior to the insurance engineer. That puts the insurance engineer in the position of proving your engineer wrong, instead of visa versa. If the insurance engineer inspects first, and your engineer must refute his report, there can be a lengthy and costly litigation involved.
After the claim has been settled, you should allow the three contractors to come over and review the scope of work including cleanup, the type of piling used for the repair, and what the warranty terms are.
For more information or to schedule a free, no obligation Certified inspection of your home, call Dura Pier at 713-721-8888 or visit our web site DuraPierFoundationRepair.com.