How to Check Your Warranty Terms

A primary consideration when making a major purchase is whether a warranty is included in the price, what it covers and how long the item will be covered under the warranty.

Difficulty:

Moderately Easy

Instructions

Full or Limited Warranty?

1. Find out whether the product comes with a full or limited warranty. While a full warranty is what its name implies - guaranteed repair in case the item fails within a specified period of time - a limited warranty may cover only specific instances of breakage.

2. Note that the manufacturer's warranty is often limited to manufacturing defects, doesn't protect your item from normal wear and tear, and may not cover cosmetic damages.

3. Find out whether the warranty covers both parts and labor. Labor can end up costing as much as or even more than parts.

Replacements and Loaners

1. Check to see whether there is a replacement clause. With this coverage, you will receive a brand-new product if the original cannot be repaired.

2. Find out whether a loaner is included. With automobiles and appliances in particular, see whether the warranty gives you a loaner while your product is being repaired.

Length of Warranty

1. Check to see how long the warranty will be in effect.

2. Consider buying the product with the longest warranty if two products are equally priced and have identical features.

3. Be aware that you can buy an extended warranty for extended coverage at any time you own the product.

4. Make sure you're aware of any deductible cost in the warranty coverage. This applies to extended warranties only. Manufacturer's warranties typically have zero deductible.