Consumers Saved Over $60 Million in 1999, Texas Warranty Association Reports.Business Editors DALLAS--(BUSINESS WIRE)--July 25, 2000 Homeowner Use of Home Warranties 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. Soars in Texas Service Calls for Repairs, Replacements Double Since 1995 Stating that Texas homeowners are increasingly sophisticated in their knowledge and use of residential service contracts (home warranties), the Texas Warranty Association (TWA TWA Time-weighted average, see there ) reported today that service calls on contracts have more than doubled in the past five years. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. data released by TWA as compiled by the Texas Real Estate Commission, 548,324 service calls were made by Texas homeowners in 1999. This compares to 253,553 service calls in 1995. The amount of money paid out in claims in Texas during 1999 also rose dramatically, according to TWA. The association reports that approximately $62 million was saved by Texas consumers on repairs and replacements during 1999. This is well over three times what was paid out in claims during 1995. TWA officials revealed that the average amount paid on each claim in Texas during 1999 was $112.98, noting that nearly two service calls are made per household per contract year. "The dramatically increasing use of residential service contracts by individual Texas homeowners reflects a growing understanding of the coverages and provisions of our product and the value-added benefits they provide. This is also reflected in the increasing sale of these contracts, which reached a record 266,645 in 1999," said Sharon Harrison, president of TWA. Harrison pointed out that there is also a growing awareness among consumers that there is a high likelihood (in over 60% of sales) of an average of two major items in the home failing during the first year of ownership. 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 A garage door opener is a motorized device that opens and closes garage doors. Most are controlled by switches on the garage wall, as well as by remote controls carried in the garage owner's cars. , 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 for a residential service contract ranges from $230 to $380 for a one-year term. Deductible fee for repairs and replacements is typically $45. TWA members, who represent approximately 99 percent of residential service contract sales in Texas, include 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, Best Home Warranty Co., 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, First American First American may refer to:
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