Home Service Contracts: A Quick and Easy Claims Process

Purchasing a home service contract is a smart, reliable way for homeowners to help safeguard their budgets in the event of unexpected breakdowns. According to a recent study conducted by SCIC, nearly 80% of people who have a home service contract say that they would recommend it to others.

One reason service contracts are so popular is that they’re easy to use. In fact, that same study found that a full 80% of people who have made a claim with their service contract say their filing experience was easy.

What helps make this process so consumer-friendly? Let’s find out.

Two Simple Steps:

If a major home system or appliance breaks down or isn’t working right, it’s time to consider filing a claim. The first step is to contact the service contract provider listed in your contract and notify their team about the issue. The way you contact them may vary by company – sometimes it’s an email or phone call, but it could even be an app or website.

Next, the home service contract provider will work with a contractor, who will then conduct a service call to diagnose the issue. If your issue is fixable, the contractor may be able to repair it that day or could schedule a follow-up visit if they need a specific part. If the system or appliance is unable to be repaired, then a replacement is ordered and installed at a future visit.

That’s all there is to it!

Timely Turnarounds:

In addition to claim filing being a fairly simple process, it’s usually pretty quick, too. Of course, contractors and parts suppliers can experience occasional supply chain challenges, but homeowners are generally impressed with the speed with which their claim is resolved. The same consumer study showed that 75% of people who have filed a claim with their home service contract said the process was timely.

No Penalties:

Did you know that filing a claim doesn’t increase the cost of your coverage? Your price is set with your term of coverage, and it will continue at the same amount for the full length of your contract, regardless of any claims you make.

Pro Tip:

Before they end up needing a repair or replacement, savvy homeowners know what exactly is covered under their contract. Most home service contracts are designed to specify every element that is covered. Knowing what is covered and how to get started is the best way to get the most out of your home service contract and stay prepared.

If your home isn’t already protected with a home service contract, ask people you know about their experience with this important financial safeguard. When you’re ready to add more peace of mind to your life and protect your checkbook, access this helpful list of providers to find out where you can get a service contract in your area.