Do you know why it is important to get warranty coverage for any appliance you purchase? You may buy a major appliance and expect it to work for years. If this is not the case, you should consider an affordable recourse. Most new products come with a manufacturer’s warranty to cover any defects associated with damaged parts or poor workmanship. This protects your appliances by providing less costly repairs.
With changing technology, unsatisfied consumers can make complaints about faulty products on the internet. This is bad for business and, trust me, no one wants that. Manufactures will offer appliance warranties to ensure the clients are not frustrated when the appliance breaks down unexpectedly. A warranty offers you the opportunity to repair or replace a faulty appliance instead of buying a new one. New, refurbished, or remanufactured parts are used to replace the damaged parts. This is only the case when the appliance has been used as intended by the manufacturer under normal operating conditions. To obtain the warranty service, you will need the original receipt with the purchase date stated.
Warranty is rendered useless if the appliance is damaged due to the following:
- Water damage, fire, war, theft, or natural disasters like hurricanes and floods.
- Transportation of the appliance.
- Power failure.
- The appliance has been used for commercial or industrial applications.
- Abuse of the appliance due to inadequate air circulation in the room, extreme temperatures, or using non-approved accessories.
- External force.
- An improper power supply like low voltage, inadequate fuses, or defective housing wiring.
The types of home appliance warranty.
- Manufacturer’s warranty.
This is an agreement made by the manufacturer to guarantee that the appliance will continue to work well within a specific amount of time. The company replaces or repairs the appliances that are damaged due to normal wear and tear or any mechanical issues during the allocated time. The original receipt is a requirement to access these services at no cost.
- Home warranty.
This is a policy that protects your major home systems and appliances as they age with time. Older homes often purchase this kind of warranty, but it is helpful for newer homes especially if they moved in with the appliances from their previous home. They cover major home systems like heating systems, plumbing, and electrical repairs as well as the existing appliances. An annual premium payment should be made for each year you want to be covered. Request for a home warranty if the seller did not offer you one. Before an appliance is repaired or replaced, a trip or deductible fee has to be paid for each claim.
- It offers peace of mind.
A professional is sent to repair or replace a damaged system or appliances whenever it breaks down. It offers financial security in case of unforeseen breakdowns and provides skilled technicians for repair.
- Increases the value of your home.
Potential buyers will prefer to purchase a house equipped with a home warranty. In some cases, home warranties are transferable and this also helps to convince the buyer about the condition of the house.
- Saves you money.
Home systems and kitchen appliances tend to break down more often. A home warranty covers the replacement and repair cost saving you a lot of money.
- Easy transfers.
This policy can be transferred to the next owner with no hassle in case you sell your home.
- Not everything is covered.
Specific components of an appliance are covered under this policy. It is important to read over the specific terms to know what is excluded.
- Coverage exclusions.
If the damage is caused by improper maintenance or breaks due to rust or corrosion, the warranty is rendered useless.
- Coverage limitations.
If the device was previously repaired or replaced and it starts to malfunction again, the warranty might not cover this damage.
- Payment is made annually.
Payment is made under the assumption that you will require to repair an appliance. This is not always the case since a repair might not be needed during that year but you would have made the premium payment regardless.
- Home appliance warranty.
It works the same way as the manufacturer’s warranty except you buy it from another company. It helps to cover the appliances once the manufacturer’s warranty no longer works. This saves the owner the time they would have used to search for a certified repair person and the warranty pays for all or part of the repair. You may buy this warranty during the purchase of the product or a year after.
- Extended warranty.
When making a purchase, the salesman might ask you to lengthen the manufacturer’s warranty period. The terms and conditions of this warranty resemble the manufacturer’s warranty and can be purchased from providers other than the manufacturer.
- Not extended.
The federal trade commission states that this warranty takes effect at the same time as the manufacturer’s warranty. This means that you may be paying for duplicate coverage.
- Lots of exclusion.
The contract may fail to cover certain problems like accidental damage or exclude the repair of specific parts. Failure to conduct routine maintenance could render the warranty void.
- The product must be mailed.
An additional cost is incurred since the warranty provider will require you to ship the damaged product somewhere for repair. This also means it will take time for you to get the appliance back.
- Deductibles and fees.
Most warranty companies will ask for a payment every time a claim is made. This in the end will cost you more money.
The different kinds of warranties cover your appliances in case they run into any problem and saves you money used on a repair. It is always important to read over the warranty to familiarize yourself with the repairs that will and will not be covered. There are several reasons why a warranty may be rendered useless. There are different kinds of warranty which include home warranty, manufacturer’s warranty, home appliance warranty, and extended warranty. You should consider the various pros and cons of each appliance warranty before deciding what your best option is.