Are you planning to purchase a property and has it frequently come to your mind that many of these real estate properties accompany warranties with it? That’s right! And among these many warranties that property entails, roofing warranties are among the most popular ones.
From appliances to floor coverings, warranties can bring absolute peace of mind. It can entail many things such as unexpected repair costs and budget checks.
When we talk about roofings, a transferable warranty is one of the greatest home assets and here’s an article that’s going to explain the process after the purchase.
What is a Roofing Warranty & Why Does It Matter?
Diving into roofing warranties, let’s discuss in detail how a roofing warranty works, what it covers, and why it matters. A roofing warranty is a form of insurance policy that can be purchased from the manufacturer or contractor that installed your roof. It effectively covers any repair costs for problems related to your roof system if something goes wrong due to normal wear and tear (or sometimes even accidents). This can be a great asset to you, as roof repairs can be expensive and not always covered by your homeowner’s insurance policy.
Who Warrants Your Roof?
Roof warranties are often offered by roofing contractors or roofing manufacturers.
They offer workmanship warranties which cover the quality of the installation. The manufacturer’s warranties protect the roofing material and assume that the roofing contractor will follow all the proper installation procedures. The manufacturer only protects the roofing material and not the labor involved in the installation of your roof.
How to Transfer or Renew a Roof Warranty?
Transferring or renewing a roof warranty is actually quite simple, and you can do it in just three steps:
- Contact the original installer: You must contact the original installer to inform them that you want to transfer the warranty or renew it.
- Fill out the paperwork: The installer will then provide you with the required paperwork that needs to be filled out and signed in order to transfer or renew the warranty.
- Complete the payment: Once the paperwork is completed and signed, all that’s left is to pay the fee associated with the warranty transfer or renewal.
By following these steps, you can successfully transfer or renew your roofing warranty without any hassle. Having a roofing warranty in place can provide peace of mind and protection against costly repairs should something go wrong with your roof system.
It is important to remember that some warranties are non-transferable, so it is always a good idea to check with the warranty provider before you purchase a property.
Understand What’s Included Within Your Roofing Warranty
When you’re reviewing a roofing warranty document, it’s best that you should scan the details.
Who is Covered Under this Warranty?
By providing a clear warranty, the manufacturer ensures that it will cover all original owners as well as future buyers of the roofing products. As long as conditions are met to transfer ownership, everyone included in said transaction will benefit from the guarantee.
For How Long This Warranty Stays Valid?
The duration of the warranty should be clearly stated in the document. Usually, the warranties range from 30 years to even a lifetime depending on the roofing material and contractor you are working with. Make sure to read the fine print of your warranty carefully so you know exactly what is covered and for how long.
What Does a Limited Warranty Mean?
A limited warranty typically covers only certain parts of the roofing system, such as underlayment or shingle granules. It does not cover any costs related to installation and labor.
What is a Prorated Warranty?
This type of warranty is usually offered on older roofs and limits the coverage based on its age. After a certain period of time, the warranty will provide reduced coverage and in some cases, such as with metal roofs, it can even become void.
By understanding your roofing warranty thoroughly, you can make sure that your investment is protected against any possible problems or damages for many years to come. Having a solid roofing warranty can be a great way to ensure that your roof is performing as expected and that you are covered in case of any issues.
If Roofing Warranties Are Transferable, What Are Its Conditions?
Most roofing warranties are transferable only once. In such a case, it is only the second owner of the roofing product who can make due advantage of such a warranty. The future owners might not have the liberty to transfer the warranty again once they purchase the property.
Certain manufacturers charge a small amount in terms of fees to transfer the warranty to a new homeowner. Apart from that, some manufacturers may also require proof of ownership or installation in order to transfer the warranty.
Some warranty claims might remove or reduce some important components based on the age of the roof and the time of the transfer. With the following right information, transferring or renewing a roofing warranty can be straightforward.
Remember that having a roofing warranty in place is an important way to protect your home from any unexpected damages so make sure you have the liberty to make use of it, when and if needed.
What Are the Three Things You Need at the Time of Transferring?
1. Proof of ownership – To make sure that you can transfer the roofing warranty to a new homeowner, some manufacturers require proof of ownership.
2. Proof of installation – This will help the manufacturer assess whether or not your roof was installed correctly to honor the warranty.
3. Warranty document – You will need to provide the original warranty document that was issued by the manufacturer upon purchase of the roofing.
What is the Benefit of Transferring a Roofing Warranty?
Warranties offer consumers peace of mind, knowing that the manufacturer is dedicated to producing a quality product. Replacing or maintaining your roof can be an expensive cost for homeowners but one with long-term benefits if done properly – making it a valuable investment worthy of protection.
Platinum Roofing & Constructions install roofs that are strong and dependable, so if your roof is covered with them, showcase the fact that it comes with a manufacturer’s warranty to prospective homeowners. This could be an incentive for them to buy—the ability to transfer the roofing warranty can make all the difference in closing a sale!