Contractor Insurance And Risk Management Blog » Home Owner Warranty http://www.contractor-insure.com/blog Where Home Builders And Trade Contractors Turn For Advice! Thu, 01 Jul 2010 14:27:09 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Home Owners Warranty Products Under Fire By Consumer Groups In SC http://www.contractor-insure.com/blog/index.php/2009/06/home-owners-warranty-products-under-fire-by-consumer-groups-in-sc/ http://www.contractor-insure.com/blog/index.php/2009/06/home-owners-warranty-products-under-fire-by-consumer-groups-in-sc/#comments Mon, 01 Jun 2009 17:34:55 +0000 admin http://www.contractor-insure.com/blog/?p=279 Approximately 70 consumer and justice groups in SC object to the use of home owner warranty products alleging that they violate state law dealing with forced arbitration in insurance contracts. They have asked that state Attorney General Henry McMaster look into the legality of these contracts.

 

It is alleged that the home owner warranty contracts are represented as a gift to protect the home buyer but that they are actually a litigation control tool that benefits the home builder.

 

I disagree, if the prospective home owner does not like the terms of the warranty, they don’t have to buy the house. Also, just because a case goes to arbitration does not mean that the outcome will be more favorable for the builder.

 

 Source: Insurance Journal http://www.insurancejournal.com/news/southeast/2009/05/27/100839.htm

 

 

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