Consumers are feeling the squeeze. Whether it’s inflation, interest rates, or housing costs, people are thinking twice before making big purchases for their homes. And yet, the home remains a top priority – a place of comfort, investment, and pride. That’s why now, more than ever, retailers should lead with value—and that includes helping customers protect what they buy.
One of the smartest ways to add value is by offering accidental damage protection plans for home investments like flooring, countertops, and cabinets. When shoppers commit to upgrading these big-ticket items, they’re looking not just for style, but for peace of mind. And that’s exactly what Centricity’s accidental damage protection plans deliver.
Why Value Matters More Right Now
In today’s climate, value isn’t just about price – it’s about confidence. A $3,000 countertop upgrade isn’t just a splurge—it’s a meaningful financial decision. The same goes for luxury vinyl flooring or custom cabinetry. When you show your customers that you can help them protect those purchases for years to come, you’re not just selling a product—you’re building trust.
In fact, according to an independent study conducted by Corus for Centricity, 77% of homeowners said they’re likely to upgrade their flooring within two years, and nearly half have already done so in the past two years. That’s a significant window of opportunity for retailers to provide added value through protection plans.
Customers Want Protection—When It’s Offered
You might think price sensitivity would deter customers from buying protection plans during uncertain times. Surprisingly, that’s not the case. The Corus study found that 41% of homeowners expressed strong interest in purchasing flooring protection when it was offered, with take rates even higher among midmarket and premium buyers. And that number jumped significantly when plans included added benefits like carpet cleaning.
Yet here’s the missed opportunity: 30% of homeowners who didn’t buy protection said it was simply never offered to them. That means retailers have the power to change the conversation – by making protection a part of every sale, especially when consumers are looking to make smart, long-term investments in their homes.
Accidents Happen. Regret Follows.
Let’s be honest – homeowners aren’t just worried about scratches and spills. They’ve experienced them. According to the study, homeowners reported an average of 3.7 types of damage to their floors from normal use or accidents. And when repairs were needed, 45% cost at least $1,000 out of pocket.
Not surprisingly, nearly a quarter of homeowners who paid for flooring repairs regret not having a protection plan. That’s a powerful emotional driven – and an opportunity for retailers to show that they understand their customers’ concerns and can offer a solution that protects both their homes and their wallets.
Younger, Savvier, and Risk-Averse Buyers Are Leading the Way
Retailers should also note who’s most likely to say “yes” to protection. According to the Corus data:
- Millennial homeowners are the most interested in protection plans.
- First-time homeowners are 42% more likely to buy a plan than experienced homeowners.
- People with other protection plans (like for electronics or appliances) are 68% more likely to buy flooring protection.
This tells us that today’s shoppers are savvy. They understand the value of insurance-style products—and they’re actively looking to reduce risk. Retailers that align with that mindset will build long-term customer relationships and drive additional revenue per sale.
Real Value, Real Results
Offering Centricity’s accidental damage protection isn’t just about adding a line item to a receipt – it’s about delivering real, measurable value to customers. Centricity’s plans cover the issues homeowners care most about—cracks in tile and hardwood, stains, buckling, warping, and more.
And when it’s time to file a claim? 92% of protection plan users say their claim was covered, and 95% report satisfaction with the experience. That’s the kind of trust that keeps customers coming back.
Want to Learn More?
Explore how you can grow your business by offering Centricity’s protection plans for flooring, countertops, and cabinets. Visit centricity.com/flooring to discover brochures, signage, and in-store tools designed to help you sell with confidence.
This recent post gives guidelines on marketing your accidental damage protection plans: https://centricity.com/the-best-way-to-market/
