Texas Residents Benefit from CenterPoint Energy Program
July 11, 2019
Recent news coverage out of Houston about HomeServe’s partnership with CenterPoint Energy is, unfortunately, way off the mark, getting basic facts wrong and not detailing the many benefits CenterPoint customers are already seeing.
For background, in 2018, CenterPoint and HomeServe announced a new partnership through which CenterPoint Energy’s natural gas customers in Texas are able to purchase repair service plans for several core household systems. The plans cover customer-owned natural gas lines, heating and cooling systems, interior electric wiring, water heaters, and exterior water and sewer lines, among other things, and are designed to protect homeowners from the inconvenience and unexpected expenses associated with repairs to these critical household systems. By no means are CenterPoint customers obligated to purchase these plans, but they are made available for homeowners as a convenience for those who believe they are helpful in addressing life’s unexpected home repair emergencies.
Since launch just a year ago, HomeServe has completed 2,470 jobs for CenterPoint customers. Customers with the gas line repair plan are saving, on average, $1,820, which is the average cost of a repair. While some say a rainy day fund is a better option than purchasing a repair plan, with the plans starting at just $5.49 per month, a homeowner would come out ahead if they paid into a plan program for 24 years versus putting that same amount in a savings account each month at current rates.
In addition, the complaint has been made that HomeServe’s plans are too limited, not covering things like flooding, fires, and earthquakes. Yet these types of natural disasters are typically covered under homeowner’s insurance and are not the intent of HomeServe’s plans, which cover normal wear and tear. These exclusions are clearly spelled out in all information provided to potential customers.
Finally, recent news coverage has dragged out claims that are now nearly a decade old about HomeServe’s alleged marketing practices. Today, HomeServe has an A+ rating from the Better Business Bureau and has significantly revised its marketing practices over the years to be in line with the highest industry standards of marketing transparency.
HomeServe’s over 4 million customers across the US and Canada are protected by the company’s best-in-class repair plans. We are pleased to be able to provide peace-of-mind plans to CenterPoint customers in Texas and hope that, in the future, news coverage will fairly include the many positive stories of customers who have benefitted from these plans.