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Recognizing that home warranties are overwhelmingly accepted in California, member firms of HWAC have taken the responsibility to be proactive in evaluating the impact of these new requirements. Accordingly, when a system failure occurs with an air conditioning system covered by a member company and that unit cannot be repaired, that company will replace the necessary equipment to comply with the required energy efficiency standards, subject to the specific coverages and limitations of the plan. The additional costs for this new equipment are substantial. Each member company of HWAC is evaluating the impact of the new mandates to its operations and services. It is likely that all warranty companies will pass through a portion of this additional cost in the form of price/deductible increases. As the cost of heating and air conditioning equipment increases, the value of a home warranty for your clients becomes more evident. Unless otherwise provided in the plan, most modifications or code work necessary as a result of the new standards will continue to be at the planholder's expense, as is standard in the industry. We believe that the participation of HWAC member companies in reviewing and communicating the effects of this federally mandated change to the consumer is another example of the value of home warranty coverage. As always, it is our goal to ensure that our customers receive the finest coverage at the best possible price from our member companies. We appreciate your continued support. HWAC is a statewide organization of home warranty companies representing approximately 95 percent of contracts sold in California. Member firms are American Home Shield of California, Buyers Home Warranty Company, Fidelity National Home Warranty Company, First American Home Buyers Protection, Old Republic Home Protection, Inc., and 2-10 HBW Warranty of California, Inc. |
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