How can I reduce my out-of-pocket claims expense?

When you purchase a CRES Qualified Home Warranty for a client and there is a claim on that property while you are insured with CRES, your retention (out-of-pocket claims expense) will be reduced $2,500-$5,000, depending on the warranty used. CRES Qualified Warranties that have a 12-month term qualify for a $2,500 reduction, while CRES Qualified Warranties for a 13-month term receive a $5,000 reduction. So if you have a $2,500 retention, your out-of-pocket claims expense will be $0.*

When you provide a CRES Building Permit History Report to a home buyer before closing, you reduce your out-of-pocket claims expense by up to $2,500.

* The E&O Retention (out-of-pocket claims expense) Reduction applies to any real estate licensed Real Estate Services Council Risk Purchasing Group, LLC. (RESCRPG) member who personally pays for the Home Warranty Plan. Seller’s E&O coverage and other benefits are feature based and warranty specific. These benefits are offered by, and intended for, the members of RESCRPG. Not available in all states. Certain restrictions apply.

This blog/website is made available by CRES Insurance Services for educational purposes to give you general information and understanding of legal risks and insurance options, not to provide specific legal advice. This blog/website should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. Claims examples are for illustrative purposes only. Read your policy for a complete description of what is covered and excluded.

Originally Published January 5, 2017

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