Q: What happens when a home that has a paid call Sears Home Warranty on it gets sold during the first warranty period when the paid call fee is due at cancellation?
A: If customer transfers the warranty to a new home, we would waive the paid call fee to do that. If it is not being transferred, we should attempt to collect from the original owner who purchased the warranty. This is disclosed to the customer in the contract. The new owner would never be responsible for the paid call fee.
Q: Are Retention associates able to cross sell Sears Home Warranty customers into other Cinch products (TP, etc.)? If yes, how does this impact paid call?
A: If they cancel their SHW plan, they can be sold anything in the DTC line, for example. The paid call fee must be collected if due.
Q: For our other products, we will reinstate a cancelled warranty for up to 90 days. Is that also applicable to Sears Home Warranty? What about the paid call fee?
A: We will reinstate. If the paid call fee was collected put that in the notes. It shouldn’t be collected again.
Q: For a Sears Home Warranty renewal, would optional and/or additional coverage already owned cancel out and have to be re-purchased at the beginning of the new warranty period? If no, and it continued automatically, would it shift to being paid for monthly, or would we send the customer a bill for the entire amount owed for the new warranty period to keep them active?
A: At renewal, TIMX will take the full invoice (annual option + annual premium) and combine them together and divide by 12 monthly invoices. This will cause the customer’s monthly payment to go up because it will now include 1/12th of the cost of their optional and additional coverage. There is no need for separate invoices or canceling or repurchasing, etc.
Q: The Retention Team uses “escalated retention” incentives such as gift cards, a free month of warranty premium, etc., to get a customer to keep their warranty. Can they do the same on Sears Home Warranty products?
A: Yes. Business as usual, following company guidelines for incentives. Make sure the notes are clear about what is done.