Renewal System Process & Guidelines
Use this renewal process when the customer’s account has expired and they want to renew into the new agreement year or need additional information about the renewal plan.
The account CANNOT have an outstanding balance. If necessary, follow the Gap Payment Process.
Auto Renewal vs Manual Renewal
Auto-Renew: The account automatically renews each agreement year, ensuring continuous coverage without requiring the customer to call in to request renewal.
A green-highlighted “Y” beside Rnwl indicates the customer is set to auto-renew. If it is not highlighted in green, the warranty will expire on the listed Exp. Date.
Manual Renew: The customer must actively contact Cinch to renew their agreement each year. Coverage will not continue automatically, which may result in a lapse if renewal is not completed. The agent will follow the system process below to renew the warranty.
Manual renewal may also occur when a customer calls within the renewal period to make changes to the coverage for the upcoming renewal (e.g., add options/additions).
Retention/3rd Party ONLY
Most 3rd Party agreements are automatically set up to auto-renew unless the customer requests to opt out.
For expired accounts, customers can pay retroactively/gap payment within 90 days from the point of expiration/cancellation with NO WAITING PERIOD. Coverage will continue as if it had not lapsed.
For expired accounts, customers can pay retroactively/gap payment within 90 days from the point of expiration/cancellation with NO WAITING PERIOD. Coverage will continue as if it had not lapsed.
Customers who refuse/are unable to pay the gap to renew the plan can be re-enrolled into a new warranty with a 30-day review period.
Real Estate ONLY
Customers are allowed to renew their plan within 30 days of the expiration date with NO WAITING PERIOD.
Customers can renew WITHIN ONE YEAR with a 30-DAY WAITING PERIOD.
- If the expired contract is paid in full, proceed with the renewal.
- If the expired contract is NOT paid in full, collect the gap amount to bring the account current.
- For customers who refuse/are unable to pay the gap, the warranty CANNOT be renewed and the customer is not eligible to re-enroll into a new warranty until ONE YEAR AFTER the expiration date. Once the customer is eligible to enroll, a FULL PAYMENT must be collected.
System Process
To ELIMINATE BILLING ISSUES, complete the renewal process which includes confirming/setting up billing prior to exiting/saving the Renewal.
If you save and exit the account screen prior to collecting the payment, the payment will NOT be saved and a manual payment will have to be processed.
- From the Enrollment Form screen, verify the customer’s information and confirm the renewal.
- Click Menu Options and select Renewal Calculator to provide the renewal amount prior to processing the renewal.
- The Renewal Calculator screen will display. Advise the customer of the available Options/Additions.
- Select the Deductible Amount that the customer wishes to have for the contract and click OK.
- Provide the customer with the renewal amount including optional and additional coverage, if applicable. Click Renew Contract to initiate the renewal.
- FOR REAL ESTATE ONLY: If the caller provides the Renewal Solicitation Piece Code, enter the code in the appropriate field. Click the HS Source Code dropdown and select CCHSTEL and save.
- The “Warranty will be saved and renewed… continue?” pop-up will display. Click Yes.
- If options were entered, the “Setting Up Renewal Options” pop-up will display. Click OK.
- Click on the Payment tab and verify the correct payment method is on file.
- If payment is due today, follow the One Time Payment Process.
- If payment is for a future date, follow the TS&R: Update Payment Method process.
- Customers must be advised that their plan will be auto renewed.
- Use the Note Template to enter notes in the Communication History Log.
Prior to selecting Bill Me you must reach out and obtain Supervisor Approval and notate who gave the approval.
Extend Offer to Renewal Year
Agents now have the option to retain customers with the WOW Offer, which extends into the renewal year.
Key Details.
- Applies to contracts with 12-month installments
- Activates in the 7th month of the agreement term
- Available only for percentage-based offers
- Once applied, the plan cannot be modified during the same call (no plan changes, additions, or option updates).
Agent Expectations:
- Build value before offering incentives.
- Use discretion with larger offers.
- Identify other sales opportunities early in the call—such as plan changes or adding options—to achieve a one-time resolution.
How It Works:
- Select the Percentage Offer first
- Then check the box on the bottom right abeled “Apply to current and renewal”
- Confirm via the pop-up and accept the offer.
- Read the Offer Confirmation script.
"Thank you. I have added your discount, and it will be applied to your next billing installment on [insert date].
Your future billing price is [insert amount] per month. You will receive an email shortly confirming your change." - Verify the incentive in the Incentives tab from Menu Options.
While the incentive will show applied in the Incentive Tab, incentives may take up to 24 hours to reflect in the Billing screen, depending on the client
Please view the timeline below.
|
|
| AFTER the renewal date |
Process: Adding Options/Additions or Plan Change
If a customer wants to change their plan and/or add options and additions to their renewal. DO NOT use the WOW Offer.
The incentive must be applied to the active year and renewal year (inactive) SEPARATELY. Follow the process below:
- Apply the incentive to the active year, BEFORE processing the renewal.
- Go to the renewal (inactive) year and make the necessary changes.
- Follow standard procedures for Change Of Plan or adding Options/Additions
- Collect FULL PAYMENT for Options/Additions for the first year of the plan change and the renewal year (for accepted offers).
- Once changes to the Renewal (inactive) year are COMPLETE, apply the incentive.
Add Options/Additions within the Change Plan screenReal Estate Year 1 Renewal Offer
If a Real Estate customer is within their first year of coverage and you are discussing a Renewal follow this Renewal Incentive process.
- Open the Renewal Calculator. Under Renewal Plan Details, Check the Box to select one of the available offers. Click Calculate to view the New Total and Monthly Cost to discuss billing for the contract renewal. If the customer agrees to the renewal, Renew the contract.
- Open the Inactive Contract and Update the Payment Method. In the Menu Options click on RE YR1 Offer. Check the box for the Offer agreed upon, click Accept Offer. A pop-up will display stating offer accepted, click OK, and notate the account as normal. The RE YR1 Offer button will be unavailable on the year 0 contract.
Related Articles
Cancel Contract System Process
When a customer requests to cancel remember to use your AIM to Save Rebuttals. Save Offer/Cancel Contract is used to assist with retention efforts by displaying an Offer Incentive, and moving forward with cancelling the contract if the customer ...Real Estate Unauthorized User Process
In order to deliver a customer centric experience and properly fulfill the customer requests, it is necessary that all the associates follow the proper Unauthorized User Protocol. This article outlines the most recent updates to our unauthorized user ...Real Estate Disclaimers
Sales Confirmation (Red Flag Policy) RENEWAL/SALES CONFIRMATION SCRIPT This script must be read verbatim before the close of your call. “<Customer Name>, just to confirm, we will be <Renewing your Cinch Warranty for an additional year/Enrolling you ...Cinch Real Estate Overview
Cinch Real Estate Overview For over 30 years, Cinch Real Estate has been working for millions of homeowners and tens of thousands of real estate professionals to make the process of buying, owning and selling real estate safer, as well as, more ...Real Estate Transaction
This section provides a high-level overview of how the Cinch Real Estate Home Warranty plays a role in the various aspects of a real estate transaction. It provides information on: The listing process Attracting buyers to properties listed for sale ...