Sears Protection Agreements
Sears Protection Agreements
This article will help you handle customer questions and concerns in the scenario where a customer has both a Protection Agreement (PA) and a Sears Home Warranty (SHW). With an understanding of the key differences between these two types of agreements, you can more effectively rebut cancel requests to save these types of customers.
Overview
As we continue to expand the Sears Home Warranty (SHW) offer to customers who have active or prior Protection Agreement (PA) coverage, you will likely hear more questions about the Protection Agreement product itself and how it compares to the Sears Home Warranty. The two products are similar in many respects but do have differences which are important to understand as you navigate these conversations.
The expectation is that we represent both products in a positive light as they are both great protection product solutions – the goal for our Cinch Retention specialists is that they are able to clearly articulate why a SHW product is such a great complement to a PA plan, and to always reaffirm the customer’s decision to keep both plans active.
Key Points
· The SHW product is focused on coverage for a broader group of appliances/systems/home with a service deductible and some exclusions/limitations. Flat rate pricing depending on plan type.
· The PA product is priced at the item level with fewer exclusions and costs post purchase i.e. no service deductible.
· You may hear mention of a “CAP” or “flat rate Protection Agreement” this is a PA product that covers a set number of items for a fixed cost.
· Some customers may choose to have both the SHW and PA coverage based on their product usage and history.
SHW and PA Comparison Chart
Suggested Scripting
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Q: |
Why would I want a Home Warranty when I already have a Sears Protection Agreement? |
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A: |
· That’s a great question. Many customers choose to keep the additional coverage on items that are used heavily in their households so they can have the extra layer of protection. · Don’t forget that the Sears Home Warranty Appliance <SYS/WH> Plan doesn’t just cover 1 or 2 items, it covers 8 of your critical kitchen and laundry appliances, including <List coverage items>. · You will find that once you consider all the great benefits that come with SHW, including the 2 complimentary preventive HVAC maintenance checks, the low monthly price of the SHW is well worth it. |
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Q: |
Does that mean I’m paying twice for the same coverage? |
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A: |
· Not at all. When you purchase the Sears Home Warranty plan, it does cover your <item covered under PA> as well as items not currently covered <give example>. · The PA plan is usually at a higher cost per appliance covered, and has fewer exclusions and no deductible. The SHW is a great option because you can cover multiple items in your home for 1 low deductible charge. This allows you to spend less on monthly plan premiums and just a little bit more when you are in need of a repair. This means you keep more money in your pocket. |
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Q: |
I think I’ll just cancel the HW and cover all my important items with a PA. That way I don’t have to pay the deductible on anything. |
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A: |
· It sounds like having protection for your major items in your home is important to you. One thing to remember is that with a Protection Agreement the cost is normally higher at the item level when you compare to the cost of what you spend on a Home Warranty plan per item. · You have a <Appliance, Systems or Whole Home> so you’re only spending $X per item each month to be protected for repairs and replacement. · What I would recommend is continuing to keep the Protection Agreement coverage on <item covered with PA> and maintaining your Home Warranty plan. That way you’re getting the best value for comprehensive <home or appliance coverage (depending on plan type)> plus have the added protection on your <PA covered items>. I believe that the way you have your coverage structured right now is a great way to balance protection and budget. |
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