HMSVY - HMSVY STOCK NEWS

Service Line Warranties of Canada conducted a survey revealing that inflation significantly affects Canadian homeowners, with nearly 90% reporting budget impacts. Over 60% are delaying home repairs due to rising costs. The study found that 69% experienced a home repair emergency in the past year, with heating/air conditioning issues being the most common. Alarmingly, 20% have no savings for unexpected repairs, and many face costs exceeding their expectations. The results underscore the financial strain inflation poses, emphasizing the importance of preparing for home repair emergencies.

HomeServe has launched HomeServe Tech Protection, a multi-device protection plan aimed at enhancing customer engagement for utility companies. Targeted at low- and moderate-income households, the service covers smartphones, tablets, computers, and TVs for $11.99 monthly, with unlimited claims up to $3,000 annually. The program, currently available through seven utility partners, seeks to meet consumer demand for comprehensive device coverage. HomeServe aims to expand this offering into more markets, increasing overall customer satisfaction.

The City of Port Colborne partners with Service Line Warranties of Canada (SLWC) to launch a voluntary program aiding homeowners in managing plumbing repair costs. Homeowners can access low-cost, no-deductible service plans protecting water and sewer service lines, with 65% of Canadians unaware of their repair responsibilities. With nearly 19% lacking emergency funds, this initiative aims to alleviate financial burdens during emergencies. The program, costing nothing to Port Colborne, offers reliable access to licensed local contractors and will soon provide homeowners with detailed information.

HomeServe's recent survey reveals that 28% of Americans faced HVAC repairs in the past year, highlighting the necessity for annual HVAC tune-ups. Established in 2014, National Tune-Up Day on September 25 aims to prompt homeowners to maintain HVAC systems before winter. Poor maintenance can increase energy bills by 30%. With 36% of Americans having limited funds for emergencies, timely maintenance can avert costly repairs. HomeServe's services include heating protection plans and emergency repairs, supported by over 1,100 partners across the U.S. and Canada.

HomeServe has appointed Andy Yost as the new Chief Marketing Officer, effective August 8. Yost succeeds Mike Rauscher, who has retired after leading the company during significant growth, expanding the customer base from 300,000 to nearly 5 million. Yost brings nearly 30 years of marketing experience from roles at Kinsa, Gannett, and others. CEO Tom Rusin expressed enthusiasm for Yost's team-building approach, aiming to enhance market share and brand recognition.

HomeServe USA launched the HomeServe Advantage Program, an all-inclusive HVAC subscription service aimed at enhancing residential energy efficiency and customer satisfaction. This program addresses the high costs of HVAC system replacements by offering a no money down ten-year subscription, covering installation, maintenance, and repairs. A study revealed 80% of consumers prefer hassle-free subscription models. With the integration of smart thermostats, it reduces HVAC runtime by 9% on average, assisting utilities in achieving energy efficiency goals.

HomeServe conducted a survey revealing that 82% of Americans feel inflation is affecting their budgets, particularly in groceries, gas, and utilities. Many are postponing purchases of furniture, vacations, and vehicles. Despite higher costs, dining out, streaming services, and vacations are what respondents are least willing to give up. Alarmingly, 36% of homeowners have $500 or less for home repair emergencies, with 15% having no money set aside. Over 50% have faced an emergency repair in the last two years, primarily HVAC issues.