Home warranties are more essential now than ever before
This year has been challenging for everyone, including homeowners. Due to the global pandemic, many people are spending more time at home, and even using it as a workspace, therefore, causing more strain on their systems and appliances.
If you are helping a client buy a home, consider talking to them about the importance of a home warranty. Appliances and systems can break unexpectedly after moving into a new home, especially today with more and more people working remotely. According to one of our home warranty partners, 2-10 Home Buyers Warranty (2-10 HBW), there has been an increase in home warranty usage so far this year.
Home Warranty Usage:
39% more claims placed
24% more calls received
31% more contractor dispatches
Working from home has caused additional wear and tear on systems and appliances across the nation.
1. Number of employees working from home –
Pre-COVID – 5.5%
Currently – 85%
2. Increased Water Use –
21% more sink use
20% more toilet use
16% more shower use
3. Increased Energy Use –
22% more electricity use
23% more refrigerator use
Whether your client is buying or selling a home, or you merely want to touch base with a past client, consider talking to them about purchasing a home warranty to protect their systems and appliances during these high-use times.
For more information about Long & Foster’s home warranty partners, visit our Home Warranty page on longandfoster.com.
DISCLAIMER –
1 Based on the Atlanta Fed/Chicago Booth/Stanford Survey of Business Uncertainty and Willis Towers
Watson white paper
2 Reported by smart water-monitoring company Phyn, Feb.–Apr. 2020
3 Sense Labs, Inc. study
3 Pecan Street Energy R&D Org: Reports on Residential Electricity Demand
Home Warranty Usage – June – August 2020 vs. June – August 2019