What is Prime Warranty?
Prime Warranty is a Third Party Administrator (TPA). Our role is to find risk opportunities, evaluate the risk, package it in a way that suits our clients' needs, and find an insurance company to underwrite it. We then market the product, collect the funds, and adjudicate the claims.
About Prime Warranty.
Anyone who has been around the HVAC industry knows how valuable Extended Service Plans are to the marketing and sales of equipment. When consumers lay out the kind of money it takes for today’s purchases, they are looking for a worry free/no additional cost transaction. We think it is fair to say that a contractor, who does not present an ESP option, runs the risk of losing a sale to one that does. That said, given the history of ESP’s in our industry, why would any contractor consider purchasing one?
The fact is... customers expect to be offered ESP's on all major purchases ....and HVAC/R purchases are no exception.
It's Time To Rethink ESP's.
In 2011, a group of HVAC/R industry veterans led by Sean Rooney, a HVAC/R risk management leader, started Prime Warranty. Our plan was simple, bullet proof and well received by the underwriting community...design an ESP program for the industry that focuses on core HVAC/R products while keeping our types of coverages limited to just a few simple options which allows our claims process to provide industry leading reimbursement turn-around times. And, at the same time partnering with a first class underwriter who has advanced financial safeguards in place for our members.