Home inspectors have a unique opportunity to elevate their services by offering clients an inspection warranty. Unlike a 12-month full home warranty, an inspection warranty is designed to minimize new homeowners’ out-of-pocket expenses for unforeseen repairs soon after moving in. These programs are intricately linked to the inspection process, excluding repairs or defects already documented during the inspection.
Home Warranties vs Inspection Warranties I Believe This Should Be Home Warranties vs Inspection Warranties Not vs Home Inspections
Unlike a full 12-month home warranty, an inspection warranty does not have a 30-day waiting period; coverage begins at closing. Depending on the plan, it may include coverage for issues not typically covered by a 12-month warranty, such as roof leaks or mold remediation. Another important distinction is that an inspection warranty is a repair reimbursement program, meaning it reimburses homeowners for repair expenses. This contrasts with most 12-month home warranties, which often use their own service providers to perform repairs. Inspection warranties and full home warranties operate independently, allowing homeowners to potentially receive coverage for the same repairs from both plans.
Inspection Warranties Reduce Risk
Consider this scenario: The home inspector thoroughly examines the water heater during the buyer’s inspection, noting its make, model, and age, and reports the unit to be operating as intended. However, within a month of closing and just 35 days post-inspection, the water heater unexpectedly leaks and needs replacement. A situation that was nearly impossible for the home inspector to have foreseen. While it was no fault of the home inspector, the new homeowner is understandably frustrated.
In this scenario, if the home inspector provided the client with an inspection warranty this should be “an inspection warranty”, they could file a claim and be reimbursed for this unanticipated cost per the warranty’s terms and conditions. This identifies another meaningful benefit for agents who work with home inspectors who offer inspection warranties with their inspections, and that is customer satisfaction and reduced risk.
Customer Satisfaction with Inspection Warranties
Customer satisfaction is essential for both home inspectors and real estate professionals. Positive reviews are critical for any professional serving the public, and negative reviews are problematic. Inspection Warranties provide the opportunity to turn a potential negative situation into a positive and since the claims process is handled directly by the warranty provider, having a quality inspection warranty in place eliminates the time and inconvenience of dealing with the issue for the representative agent or home inspector and is encourages future referrals from both.
One thing home buyers, home inspectors, and real estate professionals must consider however is the terms of the inspection warranty as coverages and limitations vary. For example, some inspection warranties require the client to pay a deductible which can make a homeowner facing repair expenses more frustrated. Poor customer service or claims handling can also create a negative experience and cause more harm than good. It’s important for consumers and agents to review the terms and conditions of any inspection warranty or have their home inspector walk them through the coverage so the warranty they get offers the level of service they are anticipating.
Elite Home Inspection Warranty is a Quality Investment for You
In summary, full home warranties can be a solid investment for a homeowner but they don’t replace the need for a quality inspection warranty offered as part of a home inspection which is why today’s savvy agents look to work with inspectors that offer this level of protection.
Elite Inspection Warranty change to Elite Inspection Warrnaty (no Home) is a way for you to have a leg-up on your competitors and to stand out to your clients. Learn more today about how Elite’s inspection warranty differs from other warranties.
