Warranty protection is a written statement that guarantees the purchaser certain rights in the event of a product or service failure. Typically, a warranty ensures the buyer of being reimbursed in some way for a limited amount of time if a product becomes impaired or defective. Warranties may also be provided for a repair service as well. Warranties may differ in coverage rights and other reimbursements.
Many types of warranty protection for a product will stipulate that if defective, the product will either be replaced or repaired at the option of the seller. The consumer must typically contact the manufacturer and return the product upon failure or defect. Some warranties cover the expense of shipping and handling charges, while others do not.
If a vendor or company fails to meet the obligations and promise that is stipulated in the contract, the individual or company may be held responsible in a court of law. A warranty is a binding and legal contract and all obligations in it must be met. Laws may differ depending on jurisdiction.
In general, product warranty protection coverage guarantees the product to be free of any flaws in workmanship and materials used. Some warranties are limited in terms of duration. For example, warranty protection may cover a period of time from 30-60 days from when the item was purchased. Other warranties may be valid for a year or longer. The length of time for which the purchaser has to file a claim must be formally stated in the warranty contract.
Many warranty protection coverage plans do not cover damage due to certain circumstances. This also must be stipulated in the warranty agreement. For instance, a limited warranty may state that it will not cover damage due to normal usage, typically described as ordinary wear and tear. Abuse or neglect, in the way of accidents and mishandling, may also not be covered.
Some warranties offer a program for an additional monetary fee, which is known as accident insurance. This may cover replacement or repair of an item due to accidents. An example might be when a purchaser accidentally drops a mobile phone, rendering it inoperable. In such a case, the phone may be repaired or replaced under the warranty.
Other common types of warranty protection includes home warranty protection and vehicle warranty protection. Automobile warranties may be offered with used cars as well as new models. Some used automobiles will be sold as is, which means the buyer is responsible for all necessary repairs.