A home warranty contract is an insurance contract.
That’s the conclusion of the Oklahoma Supreme Court in a case in which the plaintiffs challenged a mandatory arbitration provision in a home warranty contract, maintaining such provisions are not legal under state law in any contract that references insurance.
Full Article: https://www.insurancejournal.com/magazines/mag-features/2020/06/15/572067.htm
Follows HomeServe’s 2019 acquisitions of Mesa, AZ-based American Home Guardian and Dallas-Ft. Worth’s Crawford Services
HomeServe, a leading provider of service plans, repair and installation services for the home, today announced the acquisition of Phoenix-based Hays Cooling, Heating and Plumbing (Hays).
Full Release: https://www.businesswire.com/news/home/20200610005640/en/HomeServe-Westward-HVAC-Expansion-Acquires-Phoenix-area-Hays
The alignment with Porch.com, a home service Vertical SaaS company, allows Cinch to widen its scope within the $425 billion home service marketplace, while cementing its innovator status.
Boca Raton, FL (June 2, 2020) – Cinch Home Services (Cinch), the nation’s leading provider of home service solutions, today announced a new strategic partnership with Porch.com, a Vertical SaaS company dedicated to helping home service companies improve their operations, grow their business, and elevate their customer experiences by simplifying moving and home maintenance for customers. The alignment is the latest milestone in Cinch’s ongoing efforts to expand its suite of consumer solutions beyond home service plans and warranties. The deal will also allow the company to continue amplifying its innovation capabilities and expand its distribution channels through increasingly diverse Direct-to-Consumer (DTC) offerings and a more complete value proposition for affinity (B2B2C) partners.
Homeowners sheltering in Place to Receive Free Repair Consultations during COVID-19 Crisis
HomeServe USA (HomeServe), a leading provider of home repair solutions, launched Telefix, a new remote home repair assistance option. The new service, which is in early release, allows qualified technicians to remotely examine, diagnose, and even offer repair guidance to help homeowners solve common home repairs without stepping foot into the home. Through Telefix, users can save some money during these challenging times with free remote DIY guidance from experts in the plumbing, electrical and HVAC trades. If a repair cannot be made remotely, users will have the option of on-site repairs by licensed technicians.
Full Release: https://www.businesswire.com/news/home/20200428005853/en/
The National Advertising Division (NAD) has recommended that Choice Home Warranty modify or discontinue certain claims regarding its home warranty service plans.
Full Article: https://finance.yahoo.com/news/national-advertising-division-recommends-choice-165100409.html
UPDATE: The shutdown driven by the CoronaVirus will greatly impact every category in 2020. This should be viewed as a run rate prior to the shutdown.
For 2020 Personal Safeguards Group projects over $61b at retail for consumer related service contracts.
Automotive continues to lead the industry in terms of gross revenue with 2020 projected at over $33b for Vehicle Service Contracts and over $6.4b for Ancillary products.
Move Accelerates Frontdoor’s Journey to Connect Customers and Home Services Professionals, Expand Revenue Opportunities and Improve Productivity
HomeServe USA, a leading provider of home repair solutions serving more than 4.2 million customers across the US and Canada, will acquire Chattanooga, Tennessee-based Sunbelt Group’s ServLine business division (https://www.servline.com/), a National Rural Water Association (NRWA) affinity partner.
Full Release: https://www.businesswire.com/news/home/20191202005287/en/HomeServe-Acquires-ServLine