2-10 Home Buyers Warranty - unhappy with how home buyers insurance works

Posted on Wednesday, July 24th, 2002 at 12:00am CDT by 66f39157

Company: 2-10 Home Buyers Warranty - unhappy with how home buyers insurance works

Category: Other

Complaints.com received the following consumer message on July 22, 2002:

From:

RE: 2-10 Home Buyers Warranty - unhappy with how home buyers insurance works

Shortly after purchasing an eight-year olf townhouse, I noticed a leaking copper pipe next to my furnace. I called 2-10 Home Buyers Warranty to report the problem.

They sent out a plumber, who charged me the deductible of $50 and informed me that 2-10 Home Buyers does not cover any "pre-existing problems". He called 2-10 and I spoke to a representative who again repeated that their company does not cover "pre-existing problems". I explained that any and all problems could be determined "pre-existing" as I had recently moved into this home.

I explained that this policy is of no value to any person purchasing a used home and I requested that I be reimbursed for the full cost of this policy. (2-10 has refused to reimburse cost of policy or cost of replacing the pipe.) Consumers purchase warranty policies to protect their purchases; but instead they pay out their hard cash only to be taken advantage of by their insurer. This policy cost $355. I paid a plumber $50 for 2 minutes of his time. I then paid another plumber $185 to do the job. Laws are in effect to protect the Insurance Company--any consumer providing incorrect information to their insurance company will be prosecuted. What about protection for Consumers. We consumers are constantly exploited by Insurance Companies. Anna Ray


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