The Inspectify Inspection Warranty benefit comes with your Inspectify Home Inspection. It provides certain benefits in the event equipment deemed functional during the home inspection suffers a breakdown during the term of the warranty.
Policy Questions:
What is the difference between the Inspectify Inspection Warranty and a manufacturer’s warranty?
A manufacturer’s warranty covers a single item of equipment for manufacturer defects. The Inspectify Inspection Warranty covers a broad range of eligible inspected equipment against a variety of breakdown reasons.
The exact warranty benefit reads as follows:
If, during the term of this Limited Warranty, Eligible Equipment suffers a Breakdown Event, and if you provide us with prompt notice of such Breakdown Event, we will pay for the direct physical damage to your Eligible Equipment, subject to the Remaining Useful Life Value of the Eligible Equipment, the Per Event Repair Limit and the Warranty Period Aggregate Limit indicated in the Warranty Schedule, above.
When does the coverage start? How long is the coverage?
The warranty is effective for one year from the inspection date, assuming you have closed on the property and are the owner.
Are older appliances covered?
Appliances, no matter their age, are covered as long as they were properly installed, deemed functional at the time of inspection and noted as such on the inspection report.
Breakdown events are explained in your Inspectify Inspection Warranty, but they generally include: mechanical, electrical, and bursting, cracking or splitting of eligible equipment.
What does ‘eligible’ equipment mean?
- Water Heater;
- Refrigerator;
- Dishwasher;
- Range/Cooktop;
- Oven;
- Clothes Washer;
- Clothes Dryer;
- Microwave;
- Central Air Conditioning Equipment;
- Heat Pump;
- Furnace;
- Boiler (Condensing or Electric);
- Water Softener;
- Boiler (Hot Water, Steam or Cast Iron);
- Electrical Panel; and
- Whole House Generator (Permanently Installed).
What conditions are not covered?
We have tried to build in protection for the most critical and costly home equipment, but if equipment is not listed as "Eligible Equipment", there is no warranty protection.
Are there any warranty exclusions or fine print I need to be aware of?
We have tried to make the warranty benefits as easy to understand as possible, but there are some exclusions and limitations to be aware of. For example, in addition to what is listed as Eligible Equipment, we have tried to further clarify certain things that are not covered by the warranty program, like cabinetry, water piping, computer software, and insulating material. The exact ineligible equipment language is below.
What does “Non-Eligible Equipment” mean?
There are six general categories of non-eligible equipment:
- Supporting structure, cabinet or compartment;
- Insulating material associated with Eligible Equipment;
- Water piping other than boiler feedwater piping, boiler condensate return piping or water piping connected to a heating or air conditioning system;
- Wastewater piping or piping forming a part of a fire protective sprinkler or irrigation system;
- Buried or encased piping or buried vessels, however, interior buried or encased piping connected to a heating or air conditioning system is Eligible Equipment; or
- Software or electronic data.
Is there a deductible?
A $250 deductible applies to the total loss amount of each breakdown.
How long does the warranty last?
The warranty is effective for one year from the inspection date, assuming you closed on the property and are the owner.
The exact dates are stated in the Warranty Schedule under “warranty period”.
Am I able to renew the warranty?
There is no ability to extend the warranty.
We suggest you contact your insurance agent or broker as there are coverages called Homeowners Equipment Breakdown that can provide similar coverages for generally lower premiums than an expensive home warranty. As a matter of fact, the company that stands behind the Inspectify Inspection Warranty is the leading provider of insurance-based Homeowners Equipment Breakdown coverage.
You can also purchase a separate Home Warranty from various providers in the market.
What if I still have the original manufacturer's warranty?
The Inspectify Inspection Warranty is designed to be excess of other warranties in place, but can help cover what they may not.
First, notify the manufacturer to see if they will handle the problem.
You should also notify us of a potential warranty claim.
Should you have a valid manufacturer’s warranty, there are benefits to starting there such as no deductible or depreciation.
Is this warranty transferable?
The warranty is not transferable unless agreed to by our plan administrator, Hartford Steam Boiler. If you would like to transfer the warranty during the term, please contact warranty@inspectify.com and we will make the request for you.
How is it different from home insurance?
Homeowners insurance is completely different and not connected to this warranty in any fashion. A homeowner insurance policy is a regulated financial contract that promises to pay for certain types of losses and situations in exchange for payment of a premium. The only parallel to this warranty is the fact some homeowner policies may have equipment breakdown benefits embedded or attached via contractual endorsements.
Is theft covered?
The warranty is not able, by law, to provide for theft coverage. You will want to ensure you have homeowners coverage in place if that is a concern.
Where can I find my warranty explanation?
The details of your warranty came with your Inspection, and can be viewed and downloaded via the link in the initial policy email and in the inspection web report.
Can I cancel my coverage if I change my mind after purchase?
No, your coverage is included with your inspection and is not cancellable.
Do you use licensed inspectors?
Yes, our inspectors meet state requirements and are insured.
Is there a way to speak with someone if I have additional questions about the warranty?
Please email your questions to warranty@inspectify.com for assistance you may need.
Pricing Questions:
How much does it cost?
The warranty does not cost anything extra as it comes with your Inspectify home inspection as a value-added benefit and service. Currently, the warranty is only available in select states and is not available as a separate purchase.
Are there different tiers or plans of coverage to choose from?
Not at this time. There is currently one version of the warranty.
Does the age of my home impact the pricing?
It does not. The warranty comes with all eligible Inspectify inspections at no extra cost.
How does this pricing compare to industry averages?
It is hard to directly compare our Inspectify Inspection Warranty to other home warranty plans as it is different from the typical home service contracts you can buy separately. These service contracts are generally referred to as ‘home warranties’.
As there are so many different kinds of home warranties, exact comparison is impossible. The current average cost, per Forbes, is over $900. (Forbes)
Are there any additional fees I should be aware of?
There are no additional fees associated with the warranty.
If you have a claim, there is a deductible. A deductible is an amount taken off an overall claim value. You never pay anything to the warranty provider or us. If someone is asking you for any kind of payment on behalf of this warranty, please contact us immediately for assistance as that may be a fraudulent situation.
You will note this differs from the traditional home warranty experience as you need to pay for your service calls up front – and that cost tends to be in the $99 and over range – per call.
Claims Process/Customer Experience Questions:
How do I report a claim?
- Via the HOME INSPECTION WARRANTY website – REPORT A CLAIM
- By emailing warranty@inspectify.com
I have a question that I cannot find in the FAQs, who do I call?
Please email warranty@inspectify.com and we will be happy to answer your questions.
What should I do if I have a breakdown?
- Contact the appropriate mechanical contractor to advise what the problem with equipment is and what it will cost to rectify.
- Give us prompt notice of a potential claim.
- Do not discard equipment before reporting a potential claim to us as it may void your warranty.
- Get repair proposals in writing.
- Save any and all receipts.
- See section E. YOUR RESPONSIBILITIES for more details.
How much will I get paid for a covered warranty claim?
How much we can pay depends on if repair or replacement is needed and how much life is left in the equipment being claimed. Generally speaking:
-
- We will pay the lower amount for either a repair or replacement.
- If a replacement is needed, a depreciation factor/percentage will be applied to account for the age of the equipment.
- We won’t apply a depreciation factor to a repair.
- The depreciation factor varies by the type of equipment being claimed, with longer life equipment depreciating less than equipment that wears out more quickly.
- We will use the depreciation factor table in your warranty documentation under F. ADDITONAL CONDITIONS, 5. Loss Valuation to value losses.
- We will not depreciate eligible replacement claims more than 75%, even if past the known useful life expectancy.
Do I have to use a specific repair company?
No. Consumers expect and demand both flexibility and choice of who they want to use.
Who services the claim(s)? What vendors can be used?
Use your trusted service provider for equipment repair or replacement.
Do I have to find my own serviced technicians for diagnosis and repairs?
Yes. You will need to contact your trusted repair company to evaluate the problem.
Is there a limit on how much the Home Systems Protection Home Inspection Warranty will pay for any one covered breakdown?
Home Systems Protection Home Inspection Warranty has a $10,000 per home system breakdown limit, subject to a $10,000 aggregate limit.
If my covered equipment cannot be repaired after a covered breakdown, how will the claim be handled?
The Warranty pays for claims based on the lesser of repair or a replacement cost percentage based on remaining useful life of the equipment. Both are subject to a deductible of $250.
Exactly how warranty claims are to be valued is explained in section F. ADDITIONAL CONDITIONS, 5. Loss Valuation
There is a maximum 75% remaining useful life reduction to eligible replacement claims.
I want to replace my covered system with a more efficient system after a covered loss. Does the Inspectify Inspection Warranty pay for a better system?
You can apply any covered amounts to whatever type of equipment you so desire. This means you could apply your covered loss amount for an older and inefficient system, to new green tech.
What are my options if my claim is successful?
You are in control of what you do with any claim payments.
How long does the claim process take? How long will it take until the problem is resolved after a claim is filed?
Claim processing times vary based on complexity and other variables. The majority of claims are resolved within 30 days.
How can I see the status of my claim?
To get a status on your claim, please contact your Claim Service Representative at the number they provided you when you reported your claim.
Is there a limit to the number of claims I can submit within a certain time frame?
There is no specific limit to the number of claims you can submit, but there is a maximum aggregate benefit of $10,000.
Could I select the replacement appliance make and model?
Yes. You control the replacement process in its entirety however, the warranty only provides coverage for “like kind and quality”.
How does HSB determine if my service request is approved or not?
When we receive your claim, a dedicated Claim Service Representative will be assigned and begin to evaluate your request. Using data from your home inspection, equipment will be validated as eligible and to have been deemed in functional condition at the time of inspection.
Equipment not eligible or stated to be not functional during inspection will not be covered by the warranty.
Eligible equipment will then be evaluated to determine if a covered breakdown event has occurred within the warranty period.
Covered breakdown events will be valued and paid for based on the lesser of repair or replacement, subject to application of a useful life percentage.
All covered breakdown events, whether repair or replacement, are subject to a $250 deductible.