Most of the millions of products and services we buy are covered by warranties.
Warranties are usually a statement, or a backing by a manufacturer or provider that in case of defect, the item will be repaired or replaced to manufacturer specifications if there is a problem within the associated time period.
This “guarantee” gives buyers the confidence to make a purchase, knowing that if something does go wrong, that they are covered. Most purchasers would not touch a product without such a backing.
An average warranty is a year, but could also be 30, 60, 90 days, or 5 years and in some cases lifetime depending on the product.
If problems result during use, the user must check to see what is actually covered in the warranty statement. Abuse is usually not one of them, but if problems occur in normal use, users should be entitled to a solution.
In some cases, labor may be covered and parts not, one or the other, or both.
Users may have to take the item to a local repair shop, send it in or get in home support depending on the item. For example, it may not be practical to send in a large screen TV or appliance.
In addition the the manufacturer warranty, many extended warranties are available for most product purchases. Extended warranties allow users to add additional coverage in case a problem occurs AFTER the manufacturers term expires.
This acts like insurance in case of failure. Again, extended warranty plans can cover certain defects and include parts & labor or not. They also may or many not be transferable. Each plan is different and should be checked for specifics.
Warranties are a competitive requirement for virtually all of the products or services we buy and offer buyers peace of mind and recourse should problems happen with our purchases.