5 reasons to switch to 2-10 Home Buyers Warranty
As a successful builder, you have high-quality houses to build, a reputation to protect, and buyers to entice. As you pursue those goals, you’re looking to make the biggest profit while mitigating the risks inherent in home building. What if you could do all of those things more effectively? With the right protection, you can. Let us show you five reasons why you should choose 2-10 Home Buyers Warranty (2-10 HBW) and how it can help you achieve your goals more effectively.
1. You can reduce your risks and gain coverage starting Day 1
Even the best builders face the risk of structural defects, since 80% of structural defects are caused by soil movement. Likewise, even the best builders can face disputes from home buyers. These risks may seem out of your control. But by choosing 2-10 HBW, you can more effectively address them.
First, a 2-10 HBW Structural Warranty goes into effect on Day 1.
Not Year 3 like other companies. Day 1.
That means you can start setting clear expectations, start providing a better customer experience, start mitigating ambiguity and disputes, and ultimately strengthen your reputation right away. And of course, that means you aren’t on the hook for Years 1 and 2 of structural coverage, unlike with other companies.
Second, with 2-10 HBW’s warranty document, you know exactly what you’re responsible for. For instance, unlike other companies, 2-10 HBW uses the HUD- and Code of Federal Regulations–approved definition of structural failure. This definition includes the terms unsafe, unlivable, and unsanitary.
Other companies purposely exclude the term unsanitary from their warranty documents. This can put you in a difficult situation. You may even wonder, “If this company is brazen enough to omit this phrase, which HUD and the Code of Federal Regulations uses, what else are they omitting?”
Thankfully, with 2-10 HBW, you know your responsibilities right away.
2. You can better protect your profits
With the average structural defect costing between $75,000 and $125,000 to address, proven protection is paramount to protecting your profit.
Fortunately, when you choose 2-10 HBW, you transfer the financial liabilities of covered structural defects off your books. This can greatly reduce your financial responsibilities and free up funds to move forward, instead of looking back and playing defense against the unexpected.
3. Your buyers want you to switch to 2-10 HBW
Another reason to switch to 2-10 HBW is because your buyers want you to.
Consider two important facts regarding how buyers feel about a third-party structural warranty.
- According to a co-sponsored survey by 2-10 HBW and the National Association of Home Builders, 94% of prospective home buyers are more likely to purchase a new home from a builder that offers a structural warranty.
- 4 out of 5 home buyers value a third-party, insurance-backed structural warranty.
When you provide a 2-10 HBW Structural Warranty, you’re actively addressing those wants. You’re also telling prospective buyers several important things.
- You’re safer when you buy from me because I work with the industry leader in structural coverage.
- You get peace of mind knowing that I’m committed to building a quality home, and I back up my commitment to quality with a structural warranty.
- You’re making the right decision buying from me because if you were to have a structural issue, I have the best available solution.
4. You get industry-leading protection and expertise
For over 40 years, 2-10 HBW has provided builders with industry-leading protection. Unlike many other structural warranty providers, 2-10 HBW has economies of scale and multiple decades of engineering expertise.
For example, 1 in 6 homes in the United States is covered by a 2-10 HBW Structural Warranty. We have dedicated representatives and geotechnical experts across the country who understand specific soil conditions, builder expectations, and the home-building market. This can help you make the most informed decisions for your business and buyers.
Additionally, 2-10 HBW can provide you with over 150 years of combined engineering expertise. This not only helps you reduce structural issues from the start but also provides exclusive insights on the best ways for you to move forward. Because unlike other warranty providers, our relationship doesn’t end when you pay for our services—it’s just the beginning.
And of course, our insurance-backed structural warranty—backed by Swiss RE, the second-largest reinsurance company in the world—can take huge cost liabilities off your plate.
5. 2-10 HBW actively promotes your quality and protects your reputation
To buyers, one of the most important qualities a builder can have is third-party validation. This is a powerful way to show your clients that you deliver on promises, are dedicated to quality, and have a trustworthy reputation.
When you choose 2-10 HBW—the industry leader in structural coverage—you get an ally in promoting your quality and protecting your reputation.
It’s safe to say that buyers value (a) safety and (b) solutions to major problems when it comes to owning a home. Choosing 2-10 HBW reinforces your commitment to safety by providing your buyers with easy-to-understand performance standards and a solution to major problems. Because if something goes wrong with a covered aspect in the structure of a home you build, the industry leader has your back and can make things right.
When you can provide the best products and services (your home-building skills and a 2-10 HBW Structural Warranty) to achieve your higher purpose (giving people a place to live, grow, and thrive safely), you can more easily leverage your reputation to sell more homes.
Conclusion: You deserve the best. You deserve 2-10 HBW
It’s challenging enough being a builder. With strict regulations and high expectations, you need a guide who can both keep up with your ambitions and support you past the sale. And 2-10 HBW can be the guide that helps address your problems.
Don’t sell yourself short with lower-cost coverage that trades high-quality support and service for aggressive sales tactics. You and your buyers deserve better. You deserve 2-10 HBW.
Learn how you can protect your business and add valuable selling points to your new builds with a 2-10 HBW Structural Warranty.