Renewal System Process & Guidelines (Cinch Real Estate)

Renewal System Process & Guidelines (Cinch Real Estate)

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.

Alert
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). 

Guidelines

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.
  1. If the expired contract is paid in full, proceed with the renewal.
  2. If the expired contract is NOT paid in full, collect the gap amount to bring the account current.
    1. 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 and setting up billing BEFORE saving and exiting the Renewal.

Warning
If you save and exit the account screen before collecting the payment, the payment method will NOT be saved, and a manual payment will have to be processed.
  1. From the Enrollment Form screen, verify the customer’s information and confirm the renewal.
  2. Click Menu Options and select Renewal Calculator to provide the renewal amount prior to processing the renewal.

  3. The Renewal Calculator screen will display. Advise the customer of the available Options/Additions.

  4. Select the Deductible Amount that the customer wishes to have for the contract and click OK.

  5. Provide the customer with the renewal amount including optional and additional coverage, if applicable. Click Renew Contract to initiate the renewal.

  6.  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.

  7. The “Warranty will be saved and renewed… continue?” pop-up will display. Click Yes.

  8. If options were entered, the “Setting Up Renewal Options” pop-up will display. Click OK.
  9. Click on the Payment tab and verify the correct payment method is on file.
    1. If payment is due today, follow the One Time Payment Process.
    2. If payment is for a future date, follow the TS&R: Update Payment Method process.
  10. Customers must be advised that their plan will be auto-renewed.
  11. Use the Note Template to enter notes in the Communication History Log.
Warning
Prior to selecting Bill Me you must reach out and obtain Supervisor Approval and notate who gave the approval.

Real Estate Year 1 Renewal Offer (first-year customer)

If a Real Estate customer is within their first year of coverage and you plan to offer an incentive to secure the renewal, follow the procedure below.
  1. Open the Renewal Calculator. Under Renewal Plan Details
  2. Check the Box to select one of the available offers.
  3.  Click Calculate to view the New Total and Monthly Cost, then review billing with the customer.
  4.  If the customer agrees to the renewal, Renew the contract.



  5. Open the Inactive Contract and Update the Payment Method.
  6.  In the Menu Options, click on RE YR1 Offer. 
  7. Check the box for the Offer agreed upon.
  8. Click Accept Offer. A pop-up will display stating offer accepted.
  9. Click OK
  10. Document the account. 
Notes
The RE YR1 Offer button will be unavailable on the year 0 contract.


    • Related Articles

    • Renewal Incentive Process

      Overview: As part of retention efforts, agents may: Offer an incentive that applies only to the renewal year Extend the current year's incentive into the renewal year before it expires. Use discretion based on customer engagement and eligibility. ...

    • Renewal System Process & Guidelines (Retention)

      Overview Most retention-based contracts renew automatically on the effective date. This is shown by a green-highlighted “Y” in the RNWL field. For warranties that expired without automatic renewal, customers can pay any past-due amount within 90 days ...

    • 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 ...

    • 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 ...