#1 – Failing Infrastructure
The American Society of Civil Engineers (ASCE) recently gave a D (D = Poor) rating to America’s water and wastewater public infrastructure. Homeowners’ water and sewer lines are subjected to the same conditions as the lines that make up the public infrastructure – age, root invasion, ground shifting, fluctuating temperatures and more. While government is addressing the public infrastructure, homeowners are responsible for the cost of repairs to the service lines located on their properties. These repairs can cost between $1,300 to upwards of $3,500, which can be hard on a family budget. With a warranty, the homeowner is covered for the repair costs to fix water and sewer lines that have failed due to normal wear and tear.
#2 – Emergency Repairs are Expensive
A recent study by the Federal Reserve suggested that more than 50% of individuals surveyed could not afford a hypothetical emergency expense of $400 without selling belongings or borrowing money. Homeowners work hard for their money and it’s no secret that the expense of owning a home adds up over time. In fact, the study by the Federal Reserve also revealed that “more than a third of all respondents said they were worse off financially than five years ago.” With credit hard to come by and many of those eligible for retirement unprepared, expensive repairs are just not in the budget.
When evaluating monthly expenses, such as a water or sewer line warranty program, it’s important for a homeowner to consider what they have in savings and what they can honestly spend each month for protection. For homeowners with limited resources, a few dollars a month to provide peace of mind could outweigh the risk of “if” a failure would ever occur, considering just over half of the survey respondents were putting some portion of their income away in savings and only 39% said they had a rainy day fund.
#3 – Finding a Contractor Can Be Difficult
It can be difficult to find a contractor you can trust to do the job right the first time. According to Rob and Rodman, “There are lots of folks who call themselves contractors, but many of those that do aren’t going to make you happy so brace yourself for an ordeal. Don’t for one second think that someone who arrives well dressed in a nice truck has a clue. They may simply have an MBA, know how the money works, and have enough sense to look like what passes as a contractor.”
Lifehacker.com suggests, “You can’t cut corners here—there are plenty of bad handymen out there willing to do shoddy work and charge you a ton of money, and they give the good ones who are eager for your business a bad name.” With a service line warranty, the vetting has been done, so you know that the contractor sent to make the repair has proper licenses and insurance and is located within the area.
The Service Line Warranties of America Warranty Program only uses contractors that have successfully passed a rigorous background check, maintain proper licensing and insurance as the warranty program representative and are committed to providing exceptional customer service.
#4 – Water Conservation and Ground Pollution Prevention
Homeowners with a service line warranty are more likely to report a problem and have it fixed quickly, which helps with water conservation efforts and prevents ground pollution.