NOVEC Solutions Protection Plans Help Homeowners be Prepared
Some surprises are joyous, like birthday parties. Others, like an emergency repair on a gas, water, or sewer line … less joyous. Much, much less joyous.
Many homeowners don’t even realize they are responsible for the lines that bring essential services into their homes. So when a pipe begins to leak — from age or years of wear and tear — the resulting inconvenience and price tag is especially unwelcome. Many basic homeowner insurance policies do not cover repairs to or replacement of certain major systems in and around your home. And local utility companies or municipalities are not responsible for repairs in your home or on your property.
NOVEC Solutions (novecsolutions.com) offers a wide variety of home repair and replacement protection plans, providing a convenient and affordable way to cover emergency home repairs. Customers can pick the plan that best fits their needs.
The most popular plans protect water service lines and sewer/ septic lines, while other plans cover natural gas lines, electric lines, and electric-vehicle chargers. Offerings also include coverage for heating and cooling systems, heat pumps, water heaters, interior plumbing and drainage systems, and surge- protection systems.
Most plans offered by NOVEC Solutions cost less than $10 a month; cooling, heating, and plumbing system coverage is slightly more. You can find the average cost of a specific repair (what it would be without a protection plan) by clicking on the “learn more” tab on each individual product offering at novecsolutions.com. For instance, the average cost of replacing a water service line is $2,832, while the average cost of a sewer/septic line is listed as $5,754. Replacing a water heater can cost about $1,400.
Eligibility requirements, frequently asked questions, and detailed information on each coverage plan are available under the “learn more” tab. You can also find information about how to place a service call, what specifically is covered, and what happens if a covered item cannot be repaired.
In 2022, NOVEC customers opened 4,231 new plans, double the number of plans opened in 2021. In total, 18,852 customers are protected by nearly 33,000 plans (many customers choose multiple plans). Plan participants submitted more than 1,300 repair claims totaling $932,000 in 2022. Customers have saved $3.5 million since the program’s inception in 2018.