What is the Redfin Direct Access Guarantee?
For home sellers in the Redfin Direct Access program, we’ll cover up to $100,000 of out-of-pocket expenses for any theft in or damage to the seller’s home directly resulting from this program. And yes, that includes the seller’s insurance premium too!
Who is covered by the Guarantee?
The Guarantee applies only to the home seller who has signed the Redfin Listing agreement and the Redfin Direct Access addendum. It can’t extend or be assigned to anyone else.
What are the conditions for coverage?
The home seller will need to ensure that:
- All valuables, like cash, jewelry, fine art, electronics, personal information, and financial records are removed from the home before we install the smart lock;
- The home is vacant, with no humans or animals residing in it, during the program;
- The home is fully insured for real and personal property throughout the program; and
- They have signed the Redfin listing agreement and Redfin Direct Access addendum, and are in compliance with all their obligations under both and all other addenda.
What’s not covered by the Guarantee?
We won’t cover damages, losses, or injuries relating to:
- Valuables, like cash, jewelry, fine art, antiques, collectibles, medication, computers, electronics, data, personal or confidential information, and financial records;
- Vehicles, including motorcycles, automobiles, watercraft, and aircraft;
- Peripheral areas not secured by the Direct Access program or smart lock, such as detached garages, sheds, storage spaces, and common areas.
- Anything caused by ordinary wear and tear or by environmental factors, such as fungus, mildew, mold, and pollution;
- Anything caused by acts of nature, force majeure, wars, epidemics, or terrorism;
- Personal injury, emotional distress, reputational harm, identity theft, identity fraud, cyber-breach, or any other injuries as such;
- Earnings, days on market for the home, legal fees, or any other special, indirect, punitive, or consequential losses, whether real or assumed; or
- Negligent, intentional, fraudulent, or criminal acts carried out by the home seller, or by others on their behalf and/or with their permission.
What’s the process for making a claim?
The home seller must ensure all the following conditions are met to make a valid claim:
- They need to submit the claim before accepting an offer on their home or canceling their Redfin listing agreement, whichever comes first.
- Upon discovering any loss or damage, they must notify their Redfin agent in writing within 48 hours and use reasonable efforts to mitigate any further loss or damage.
- They have to provide documentation (through photos, receipts, etc.) to prove the pre-claim value of the property and the extent of the loss or damage.
- If the loss or damage is the result of a crime, they need to provide a copy of the police report.
- In case repairs are needed, they have to submit estimated repair costs from licensed professionals before any work begins. Redfin may ask the home seller for multiple bids.
- They must cooperate with Redfin’s investigation and processing of their claim, and with Redfin’s efforts to pursue recovery from whoever caused the loss or damage.
- They have to agree to assign and subrogate their rights to Redfin against whoever caused the loss or damage.
Other terms and conditions of the Guarantee
- If required by law, Redfin has the right to modify or cancel this Guarantee at any time, though we’ll make sure to notify all home sellers covered by this Guarantee.
- Redfin reserves the right to investigate every claim.
- Redfin’s payment may be conditioned on the home seller signing an agreement to release Redfin and its affiliates from all claims, and/or to keep confidential all matters relating to their listing contract and claims.
- Redfin will pay out claims under this Guarantee only after other claims, such as with homeowners insurance and other insurance policies, are resolved.
- Redfin will reduce its claim by any amount the home seller has collected and will collect in the future from non-Redfin sources, including payments from any insurance policies.
- The home seller is required to have their own insurance on the property, and to understand how participating in the Direct Access program impacts their insurance.