Frontdoor Launches Its Reinvention of the Home Service Plan
June 06 2023 - 8:00AM
Business Wire
Frontdoor Premium is the most comprehensive
plan offered in the Frontdoor app
Frontdoor, Inc. (NASDAQ: FTDR), the nation’s leading provider of
home service plans with about two million members, today announced
that Frontdoor Premium – as the next evolution of the Frontdoor app
– is now available in select markets.
“Frontdoor Premium is our reinvention of the traditional home
service plan,” said Bill Cobb, Frontdoor chairman and CEO. “Premium
is for the homeowner who wants it all – coverage for repairs,
real-time advice, maintenance services, and exclusive discounts.
With a membership, they get a 12-month service agreement, new
features and streamlined processes for both members and contractors
– all through the convenience of the Frontdoor app.”
With Premium, members get all the benefits of Frontdoor Prime (3
video chat sessions with our Experts, exclusive discounts on
heating and air conditioning systems, and discounts and special
pricing for home products and services), plus these additional
benefits*:
- An annual membership plan
- Coverage on appliances, electrical, and plumbing to make
dealing with breakdowns easy
- The option to add coverage for HVAC, roof leak repairs, and
pool & built-in spa equipment
- A flat service fee ($100) for covered appliance, electrical,
and plumbing repairs
- Repair the item or pay the member $500 ($1,000 for optional
HVAC)
- Maintenance service options like carpet cleaning, HVAC
tune-ups, and more for a flat service fee of $100
- Ability to place and track service requests directly in the
app
- Access to vetted Pros from our network for service requests, so
members don’t have to haggle, perform research or other
hassles
“From now through July 25, we are offering an introductory price
of $29 per month for 12 months,” Cobb said. “The breadth of
coverage homeowners get at this price is an exceptional deal for
protecting their most valuable asset, their home.”
Frontdoor Premium is currently available in about half of the
markets in the U.S., with plans to rapidly expand coverage later
this year.
The Frontdoor app is available to download now on iPhone and
Android. Since the app was launched April 11, it has been
downloaded more than 500,000 times. For more information about the
app, please visit www.frontdoor.com.
* See membership agreement at
www.frontdoor.com/legal/agreements for coverage details, including
limit amounts, fees, limitations and exclusions. Sales taxes may
apply. The repair for your covered item must be within the $500
limit. If it exceeds $500 or we do not make the repair, we will pay
you $500. There is a payout max of $2,000 per 12 month rolling
period (additional payout max of $2,000 for optional HVAC
coverage). Membership will renew on monthly basis after initial
12-month term.
About Frontdoor
Frontdoor is reimagining how homeowners maintain and repair
their most valuable asset - their home. As the parent company of
two leading brands, we bring over 50 years of experience in
providing our members with comprehensive options to protect their
homes from costly and unexpected breakdowns through our extensive
network of pre-qualified professional contractors. American Home
Shield, the category leader in home service plans with
approximately two million members, gives homeowners budget
protection and convenience, covering up to 23 essential home
systems and appliances. Frontdoor is a cutting edge, one-stop-app
for home repair and maintenance. Enabled by our Streem technology,
the app empowers homeowners by connecting them in real time through
video chat with pre-qualified experts to diagnose and solve their
problems. The Frontdoor app also offers homeowners a range of other
benefits including DIY tips, discounts and more. For more
information about American Home Shield and Frontdoor, please visit
www.frontdoorhome.com.
Forward Looking Statements
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on management's current
expectations and beliefs, as well as a number of assumptions
concerning future events. These statements are subject to risks,
uncertainties, assumptions, and other important factors. Readers
are cautioned not to put undue reliance on such forward-looking
statements, because actual results may vary materially from those
expressed or implied. The reports filed by Frontdoor pursuant to
United States securities laws contain discussions of these risks
and uncertainties. Frontdoor assumes no obligation to, and
expressly disclaims any obligation to, update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Readers are advised to review
Frontdoor's filings with the United States Securities and Exchange
Commission (which are available on the SEC's EDGAR database at
www.sec.gov and via Frontdoor’s
website at investors.frontdoorhome.com).
FTDR-Company
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230606005242/en/
Tom Collins mediacenter@frontdoor.com
Frontdoor (NASDAQ:FTDR)
Historical Stock Chart
From Apr 2024 to May 2024
Frontdoor (NASDAQ:FTDR)
Historical Stock Chart
From May 2023 to May 2024