Home Warranty Coverage from AmTrust Specialty Risk
A leaky dishwasher. An air conditioning unit blowing warm air. A faulty oven that keeps burning cookies. These types of malfunctions can affect homeowners at any time and they are not only an annoyance, but the unexpected repair costs associated with them can be very expensive, too.
AmTrust Specialty Risk offers over 20 years of experience underwriting and structuring innovative home warranties. We collaborate with home warranty companies to create plans that give consumers the peace of mind they need when it comes to protecting the major components and systems in their homes.
Peace of Mind with a Home Warranty
A home warranty, also known as a home service contract, offers financial protection for consumers looking to safeguard their most valuable assets: their homes. In 2018, home warranty sales were projected to reach $2.4 billion and since 2013, sales have grown at an average of 3.3% per year.
Home warranties are often offered by sellers as a means of making their homes more attractive to potential buyers. While homeowners insurance covers damage from threats like fire or theft, home warranties go beyond this coverage, providing protection for malfunctioning appliances, plumbing, electrical and heating/cooling systems.
Home Warranty Solutions from a Trusted Partner
Home warranty companies seek experienced insurers to underwrite their plans. They’re looking for advice on how to structure these plans to best fit the needs of consumers. As a leading underwriter of home warranty plans, AmTrust Specialty Risk has the required knowledge and expertise to build a successful program.
Some of the benefits of engaging with AmTrust Specialty Risk include: Specialized coverage options.
We often underwrite risk others won’t, such as protecting homeowners from certain issues not usually covered by homeowners’ insurance. For example, we collaborated with a large water utility to create an exterior sewer/septic line protection plan to cover damage from sewer line ruptures and clogs, which are not typically covered by homeowners’ insurance. Innovative technology.
Consumer products are evolving, and research from AmTrust Specialty Risk reveals 74% of households have connected devices worth over $2,500. Utilization of our smart warranty platform, TapSafe™, and its administrator, Servify
, helps homeowners detect and catalog all the connected devices in their homes, decide which ones they want to protect, purchase protection plans, get on-demand technical support and file claims. In today’s world, smart homes are becoming more common, with recent statistics showing that the global smart home market is anticipated to be valued at more than $53 billion by the year 2022. TapSafe is a product all home warranty companies should consider adding to their offerings, as it not only helps protect consumers’ smart homes, but it helps generate new revenues, too. Options to maximize profits
. The flexibility to structure program financials that improve your profits, increase your customer satisfaction, build your brand and reduce risk. Unlike most home warranty companies, insurance is our only business. This means we are free to partner with any administrator, in-house or out, to create solutions that meet your needs. Support from an experienced team.
Working with some of the biggest names in the home warranty business, AmTrust Specialty Risk has gathered an extensive understanding of the industry. Our team is adaptable, knowledgeable and can create the right home warranty coverage to ensure your customers are getting the most benefit from their plan. Plus, you will work with an experienced and dedicated account manager who provides the personalized attention you deserve. We continually study and share trends and best practices we see industrywide, including insights into changing consumer attitudes and behavior toward home warranty products. A best-in-class solution.
As part of AmTrust Financial Services, a multinational property and casualty insurance provider with an “A-“(Excellent) rating from A.M. Best. Our strength, stability and commitment means we will be here to support you and your clients, now and in the future.
Ready to Learn More about Home Warranties?
Contact AmTrust Specialty Risk today so we can help you generate revenue, sell more product, improve customer satisfaction and help you continue to build your brand.