CONTRACTOR BENEFITS

VALUE | LESS RISK | CUSTOMER RETENTION | PROFITABLITY | EQUITY

Why do you as a contractor need a program like coolCARE & how can it it positively effect your business?

VALUE

The Additional Value that protection plans add to a contractors proposal is the greatest benefit of the coverage. This value can help contractors sell more jobs and higher efficiency equipment when packaged together and used as a closing tool. Protection plans justify a higher price than competitors in the same market place by providing a comprehensive peace of mind coverage.

LESS RISK

The Reduction of Free-Callbacks for labor repairs that contractors are exposed to with the required given labor can be limited to 90 days as claims can be submitted on the 91st day after policy registration. Free-callbacks can cripple a service company and limit the ability to keep quality technicians,. Contractors choosing to include coverages on all installs can rest assured that revenue is still coming in for unexpected equipment failures that are typically a loss against new sales generated.

CUSTOMER RETENTION

Customer Retention is another great benefit of adding protection plans to offerings. Coverages give contractors ability to lock-in the customers peace of mind and also seasonal maintenance program renewals. Drastically reducing the negative customer reviews and gaining more positive referral customers.

PROFITABLITY

The Profit made from the sale of protection plans adds another source of revenue with little overhead. A simple go to market strategy will guarantee added profit on every installation if implemented properly to the offerings.

EQUITY

The business’s Equity is increased when a contractor has an agreement that locks-in a customer to their business and compensates them to repair or replace equipment. Acquisition teams for buying groups are analyzing the pros and cons of each business, taking in consideration total protection plans, seasonal maintenance contracts, and technicians when determining a value for a business. So rather than simply sell a phone number, list of customer contacts, and some trucks, you should pay attention to what positively effects the evaluation of your company.

 RESIDENTIAL COVERAGE TYPES

coolCare covers all brand types and has 3 options of coverage. Each option chosen should be based on the given OEM Limited Warranty Period. If you’re uncertain of the refer to you equipment manufacturer warranty. Coverage does not replace the manufacturer’s warranty, but provides additional benefits during the term of the manufacturer ’s warranty. Losses covered by the manufacturer during the manufacturer’s warranty period are not covered under the coverage. 

LABOR ONLY COVERAGES - Covers the labor for repairs covered under the original Manufacturer limited parts warranty. 1, 2, 3, 5, 10, & 12 years. *labor starts 91st day from purchase date & expires from install date

PARTS ONLY COVERAGES - Extends the parts covered under the original manufacturer limited parts warranty after the OEM expires. 2nd-5th years, 2nd-10th years, 6th-10th years, 10-12th years *parts coverage wont apply until OEM coverage expires

PARTS & LABOR COVERAGES - Covers the labor for repairs covered under the manufacturer limited parts warranty. Extends the parts covered under the original manufacturer limited parts warranty once the equipment being covered is out of warranty. 10 years labor & 2nd-10th year parts, 10 years labor & 6th-10th year parts, 12 year labor & 10th-12th year parts *labor starts 91st day from purchase date and expires from install date *parts coverage wont apply until OEM coverage expires)

EXCLUSIONS -  considered preventative maintenance items or workmanship failures: air filters, drain lines, condensate pumps, refrigerant lines, ducts, welding, electrical wiring external of the equipment, bulbs, humidifier, fuses or breakers, unless part of the original unit as provided by the manufacturer and/or sta

 Commercial Coverage Types

LABOR ONLY COVERAGES - Covers the labor for repairs covered under the original Manufacturer limited parts warranty. 1, 2, 5, & 10, years. *labor starts 91st day from purchase date & expires from install date

PARTS ONLY COVERAGES- Extends the parts covered under the original manufacturer limited parts warranty after the OEM expires. 2nd-5th years, 2nd-10th years, 6th-10th years, *parts coverage wont apply until OEM coverage expires

PARTS & LABOR COVERAGES- Covers the labor for repairs covered under the manufacturer limited parts warranty. Extends the parts covered under the original manufacturer limited parts warranty once the equipment being covered is out of warranty. 5 years labor & 2nd-5th years parts, 10 years labor & 2nd-10th year parts, 10 labor & 6th-10th year parts, 1-12th labor & 10th-12th year parts *labor starts 91st day from purchase date and expires from install date *parts coverage wont apply until OEM coverage expires)

CLAIMS SUBMISSION

• Claims can be submitted with-in 60 days from service repair date

• Contractor work order with homeowner signature must be attached to each claim

• Distributor/OEM invoice must be attached to each claim for validation and reimbursement when applicable

Keep it Simple.

Make your warranty process EASY.

Use an inclusive warranty concept to add-in coverage options to increase value to your offerings, and most importantly keep customers and your profits.

Contractor Checklist Getting Started

1. Start by choosing your labor rate $125, $175 (We suggest a quick check of your total annual number of OEM part warranty filings when choosing labor rate)

   1. Residential

   2. Commercial

2. For each equipment type select coverages to offer.

   1. OEM Coverage Term =

   2. Included Labor Term =

   3. Added Labor Term(s) =

   4. Added Parts Term if needed =

   5. Retail Price for added terms = $