HARTFORD, Conn.--(BUSINESS WIRE)--TrustedPlace™, a new consumer brand of service contracts for home systems, appliances and electronics, was announced today by HSB Secure Services, Inc.
Home Systems Protection Plan by TrustedPlace™ is the first of a range of TrustedPlace™ home service contracts offered directly to consumers by HSB Secure Services, part of Hartford Steam Boiler (HSB).
It was designed to fill a coverage gap in standard homeowners insurance policies that exclude the breakdown of home equipment.
Home Systems Protection Plan by TrustedPlace™ pays to repair or replace home systems such as a furnace, air conditioning or hot water heater as well as household appliances and consumer electronics.
“If it plugs in, if it turns on, it’s covered for a breakdown,” said Jed Usich, vice president, consumer markets for HSB. “TrustedPlace™ is a simple and affordable alternative to expensive and restrictive home warranty plans and extended product warranties that have limited protection.”
Many homeowners are not aware that their home insurance does not pay for the failure of increasingly complex and expensive home systems. Although some homeowners have Home Systems Breakdown coverage through insurers that partner with HSB, most consumers still have no coverage.
In addition to repair or replacement, Home Systems Protection Plan by TrustedPlace™ allows consumers to pick their own repair contractor, use manufacturer’s replacement parts, and receive hassle-free claim service.
The service contract is provided by HSB Secure Services, Inc., or its affiliates and financially backed by The Hartford Steam Boiler Inspection and Insurance Company.
The TrustedPlace™ service contract is available to consumers who are members of affinity groups that partner with HSB and to other homeowners directly from TrustedPlace.com.
Visit www.trustedplace.com for more information.
Hartford Steam Boiler (HSB), part of Munich Re, is a multi-line specialty insurer and provider of inspection, risk management and IoT technology services. HSB insurance offerings include equipment breakdown, cyber risk, specialty liability and other coverages. HSB blends its engineering expertise, technology and data to craft inventive insurance and service solutions for existing and emerging risks posed by technological change. Throughout its 150 year history HSB’s mission has been to help clients prevent loss, advance sustainable use of energy and build deeper relationships that benefit business, public institutions and consumers. HSB holds A.M. Best Company’s highest financial rating, A++ (Superior). For more information, visit www.hsb.com and connect on LinkedIn, Twitter and Facebook.
Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the capital investment company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake to the 2017 Atlantic hurricane season. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies, cyberattacks, or pandemics. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals.
