How a Home Warranty Plan Can Help Affordability Issues

How a Home Warranty Plan Can Help Affordability Issues

How a home warranty plan can help affordability issues

Lack of affordable housing is a nationwide crisis. Short of a bipartisan miracle at local, state, and federal levels, there are no easy solutions. While this can be frustrating, there are some ways you can help your clients. Today, we’ll show you how a home warranty plan from 2-10 Home Buyers Warranty (2-10 HBW) can help you help your clients address some affordability issues related to buying a home.

A home warranty could reduce the overall costs of home ownership

For Buyers, finding a house they can afford is a difficult hurdle. But even when they do find one, the costs of home ownership create a different kind of affordability burden.

This is especially true for millennial Buyers, who make up the largest share of Buyers currently on the market. One of millennial Buyers’ biggest regrets is how much it costs to maintain their home, along with other costs.

A home warranty plan can help address these issues. Consider the cost to replace important items that break down, compared to the cost to address a breakdown with coverage from 2-10 HBW.

Average replacement cost† With 2-10 HBW, as low as*
A/C condensing unit $2,500 $75
Furnace $2,030 $75
Water heater $1,790 $75
Refrigerator $1,250 $75

Statistics derived from 2019 data. Based on estimated average retail cost of replacement and observed claims experiences of 2-10 HBW customers.
*Service Fee per approved claim. See service agreement for all coverage details, limitations, and exclusions.

Providing or recommending a home warranty can help protect Buyers after the sale. This can help address one of the more understated affordability issues related to housing.

Even better, it can make it more obvious to your clients that you’re looking out for them, even after the sale. That could foster more loyalty and position you for more referrals.

Coverage comes with perks and programs

The perks and programs that come with coverage from 2-10 HBW are another way to help reduce the costs of home ownership. Consider three important perks home warranty coverage provides your clients.

  • Appliance Discount Program: Provides discounts of up to 65% on GE and Whirlpool brand appliances. This could help your clients save big while replacing older appliances with newer, high-quality ones.
  • Appliance Replacement Program: Instead of paying a Service Fee when filing a claim for an appliance breakdown, your clients can request reimbursement of up to $100. All they’d need to do is buy and install a new appliance, and send 2-10 HBW the receipt to qualify. Plus, they can combine this with the Appliance Discount Program!
  • Even If Service Fee Guarantee: If it turns out a claim isn’t covered, your clients can request a Service Fee refund. Plus, if the same part breaks down again during the agreement, 2-10 HBW won’t charge another Service Fee to fix it.

These perks and programs add another layer of financial protection to the mix. This could help your clients reduce the likelihood that a major breakdown will bust their budget.

Help your clients address certain affordability issues

Though we may be past the peak of the Seller’s market, affordability challenges will reign for the foreseeable future. While a home warranty may not make purchasing a home more affordable, it can noticeably benefit Buyers who do manage to purchase.

By providing or recommending a home warranty from 2-10 HBW, you can position your clients for happier home ownership. That could mean better word of mouth and more referrals for you.

2-10 HBW offers comprehensive systems and appliances home warranties to help protect your clients from unexpected repair and replacement costs. Contact us to learn more.

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