Coverage underscores the value of home service plans, especially in periods of high inflation
MEMPHIS, Tenn.–(BUSINESS WIRE)–Frontdoor, Inc. (NASDAQ: FTDR), the nation’s leading provider of home service plans, announced today that its flagship home service brand, American Home Shield, has paid out more than $4 billion in member claims over the period of January 2016 through September 2022.
“While this is a huge number, it also underscores our deep commitment to honoring our members’ covered claims,” said Raj Midha, senior vice president and general manager for American Home Shield. “It’s also a great reminder about the overall value of home service plans. In times like these, with very high inflation, replacing an appliance or a major investment like an air conditioner or heating system could far outpace what people pay for one of our home service plans.”
A home warranty is a one-year service contract that helps pay the repair and replacement costs when parts of covered systems and appliances stop working. It complements homeowner’s insurance by protecting things insurance doesn’t, like breakdowns caused by normal wear and tear.
“Our home service plans include exclusive member perks, like discounts on new appliances and services, including tech installation and set-up,” Midha added.
An article in MarketWatch said “American Home Shield earned its spot as our top choice due to its extensive coverage options and excellent customer service. We awarded American Home Shield 4.6 out of 5 stars in our rating system — the highest rating of the home warranty companies we researched and compared.”
An article on the website of home advice expert Bob Vila said “American Home Shield offers well-rounded home warranty policies…With extensive coverage options included in its different policy tiers—plus the option to purchase add-ons for more specialized protection—there’s a good chance homeowners will find the right coverage to meet their needs.”
For more information about how American Home Shield can help protect your wallet from unplanned home expenses, please visit www.ahs.com.
About Frontdoor
Frontdoor is a company that’s obsessed with taking the hassle out of owning a home. With services powered by people and enabled by technology, it is the parent company of four home service plan brands: American Home Shield, HSA, Landmark and OneGuard, as well as ProConnect, an on-demand membership service for home repairs and maintenance, and Streem, a technology company that enables businesses to serve customers through an enhanced augmented reality, computer vision and machine learning platform. Frontdoor serves 2.2 million customers across the U.S. through a network of approximately 17,000 pre-qualified contractor firms that employ an estimated 60,000 technicians. The company’s customizable home service plans help customers protect and maintain their homes from costly and unexpected breakdowns of essential home systems and appliances. With more than 50 years of home services experience, the company responds to over four million service requests annually. For details, visit frontdoorhome.com.
Contacts
Investor Relations:
Matt Davis
901.701.5199
ir@frontdoorhome.com
Media:
Tom Collins
816.500.0336
mediacenter@ahs.com