Porch stands behind the estimates provided in our Repair Estimate Reports.
Our Porch Repair Estimates Accuracy Promise (the “Accuracy Promise”) is subject to the following terms and conditions.
The Porch Repair Estimate Report
Your Porch Repair Estimate Report (the “Report”), which is prepared by our experienced pricing experts, will provide estimates for repairing the defective items identified in your inspection report (collectively, the “Repair Items”). The Report will give you both the estimated cost for repairing each Repair Item individually using different professionals (plus the sum of all of those individual repair costs) and the total estimated cost for having a single professional repair all of the Repair Items at once (the “Whole Home Estimate”).
What is Covered:
If you choose to hire a single professional to repair all of the Repair Items at once and the total actual repair cost exceeds the Whole Home Estimate, then Porch will cover the Excess Cost (as defined in the Making a Claim section below), up to 50% of the amount of the Whole Home Estimate.
If you choose to repair the Repair Items individually and the actual repair cost for one or more individual items exceeds the estimate for the item(s) provided in the Porch Repair Estimate Report, then Porch will cover the Excess Cost (as defined in the Making a Claim section below) for each individual item, up to 50% above the provided estimate for that item. The aggregate cap on coverage for a given Report (i.e., the total amount of Excess Cost Porch will cover for all of the Repair Items identified in the Report) is 50% of the Whole Home Estimate.
Exclusions. The Accuracy Promise does not cover any of the following:
Any items that are identified in the Report as “Potential” (items that warrant monitoring or further evaluation).
Any items whose condition can degrade with time, if you have the repair done more than two weeks after the date of the Report. Examples of these kinds of Repair Items include:
Items for which signs of previous water penetration is present
Damage caused by water leakage or moisture (for example, damage to wood flooring or ceilings)
Wood rot damage from water or moisture
Molds and related damage
Cracks in bricks or building
Missing exterior caulking and sealer
Any items repaired more than 4 months after the date of the home inspection. (Estimates are not valid beyond 4 months from the date of the inspection.)
You must provide Porch with the following documentation:
Receipts for the completed work done by a home service professional that meets the following criteria (a “Qualified Pro”): the pro is located within a radius of 30 miles from the property, is background-checked, and carries all licenses required by law (if any) for the kind of work performed. The repairs must have been completed within 4 months of the inspection date. AND
Quotes from 2 other Qualified Pros for the same work. The quotes must be for work to be performed within 4 months of the inspection date.
If the Average Quoted Cost for the repair is greater than the cost you actually paid for the repair, then Porch will pay you the Excess Cost for that repair (subject to the limits specified in the “What is Covered” section above).
The “Average Quoted Cost” means the average of the paid and quoted costs of the 3 Qualified Pros for the repair. In other words:
Average Quoted Cost = ((actual cost you paid to Qualified Pro #1 for the repair) + (quoted price from Qualified Pro #2 for the same work) + (quoted price from Qualified Pro #3 for the same work)) / 3
The “Excess Cost” for a repair means the difference between the actual cost you paid for the repair and the Average Quoted Cost for the repair. In other words:
Excess Cost = (cost you actually paid for the repair) – Average Quoted Cost
Porch reserves the right to request a W-9 from you prior to the finalization of a claim. When Porch pays the claim as described above, the payment is a full and complete resolution to the Accuracy Promise claim. In some cases, you may be required to sign a release to receive your payment.
The Accuracy Promise is subject to modification by Porch at any time. The terms in effect on the date you receive your Repair Estimate Report will apply to any claim related to the estimates at issue.
Questions? Give us a call at 855-614-6231
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