Consumer Education, Industry Ethics Sought; Texas Residential Service Contract Industry Forms Association as Sales Reach Record Highs.Business & Real Estate Editors DALLAS--(BUSINESS WIRE)--April 25, 2000 Seeking to advance consumer education and industry ethics as residential service contract sales reach record highs in Texas, the state's leading industry firms have formed the Texas Warranty Association (TWA TWA Time-weighted average, see there ), association officials announced. Sharon Harrison, president of Nations Preferred Home Warranty A Home warranty is an insurance contract that covers the repair and replacement costs of home appliances. The warranty generally covers equipment and appliances such as dishwashers, plumbing systems, electrical systems etc. of Dallas, who was recently elected the first president of TWA, reports that TWA members represent approximately 99 percent of residential service contract sales in the state. Joining Nations Preferred Home Warranty as members of TWA are American Home For the American mortgage lender, see . The American Home is a center of intercultural exchange located in Vladimir, Russia. The home is designed to model a typical American suburban home and its main focus is the ESL school that provides lessons for Russian students. Shield, Memphis, Tenn.; Best Home Warranty Co., Burbank, Calif.; BFS BFS Bundesamt Für Statistik BfS Bundesamt für Strahlenschutz (German: federal office for radiation protection) BFS Bowling for Soup (band) BFS Bankable Feasibility Study BFS British Fertility Society Home Warranty, Daytona Beach Daytona Beach (dātō`nə), city (1990 pop. 61,921), Volusia co., NE Fla., on the Atlantic coast and Halifax River (a lagoon); inc. 1876. Center of a rapidly urbanizing area, in a region settled by Spanish Franciscans in the 17th cent. Shores, Fla.; First American First American may refer to:
HSA Human Serum Albumin HSA Human Services Agency (Nevada) HSA Health Services Agency HSA Health and Safety Authority (Ireland) ), Madison, Wis.; and Old Republic Home Protection Co. Inc., Austin, Texas. Also serving as officers of TWA are Suzan Kelly, First American Home Buyers Protection Corp., vice president; Dirk Doud, American Home Shield, secretary; and John T. Watson, Best Home Warranty Co., treasurer. "Because of dramatic population growth in Texas, particularly in urban areas like the Dallas Metroplex, Austin and Houston, the growth potential for residential service contract sales is enormous. With accompanying increases in home ownership, our industry is responding to the vital need to educate consumers and the real estate industry about the consumer protection and risk reduction qualities of home warranties. "TWA's goals also include establishing ethical standards for residential service companies conducting business in Texas, initiating a program of governmental relations on behalf of the industry, and maintaining liaison with the Texas Real Estate Commission and Texas Association of Realtors concerning significant service contract issues," Harrison said. Commenting on the continuing rise in residential service contract sales in Texas over the past several years, TWA reports (based on TREC TREC Texas Real Estate Commission TREC Text Retrieval Conference TREC Technique de Randonnée Equestre de Compétition TREC Tropical Research and Education Center TREC T-cell Receptor Excision Circle TREC Teachers and Researchers Exploring and Collaborating data) that 266,645 residential service contracts were sold in Texas during 1999. This represents an increase of approximately 20 percent over 1998, and nearly a 70 percent increase compared to 1996 when just 155,705 contracts were in place. "Texas consumers and real estate professionals have become increasingly sophisticated in their understanding of the protection and risk reduction provided by residential service contracts," Harrison stated. Typically, residential service contracts include standard coverage of a home's air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. , heating, electrical and plumbing systems, as well as water heaters, kitchen appliances, such as a range, oven, dishwashers, and disposal. Garage door openers, washer/dryer, refrigerator, pool/spa equipment, well pumps, solar components, and even limited roof coverage may be available for an additional premium. Basic cost of coverage ranges from $230 to $380 for a one-year residential service contract. Deductible fee for repairs and replacement is typically $45. TWA estimates that Texas homeowners saved approximately $62 million during 1999 on claims for repairs and replacements. The residential service company industry in Texas is regulated by the Texas Real Estate Commission under provisions of the Residential Service Company Act (Article 6573b, V.T.C.S.). |
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