GlossaryWhen we purchase a new product, whether a smartphone, home appliance, car, or even furniture, we often encounter the term "Original Manufacturer's Warranty" or simply "Manufacturer's Warranty." But what exactly does this warranty entail, and why is it important for consumers? In this comprehensive guide, we'll delve deep into the world of Original Manufacturer's Warranties (OMW) to help you understand what they are, what they cover, and how to make the most of this valuable benefit when you make a purchase.
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An Original Manufacturer's Warranty, often referred to as a manufacturer's warranty, is a contractual agreement between the manufacturer of a product and the consumer. The manufacturer provides a guarantee to repair or replace the product or its components if they develop defects or malfunctions within a specified period after purchase.
OMWs typically have a fixed duration, which can vary significantly depending on the product and manufacturer. Common durations for OMWs include:
Some high-end products may even have warranties extending for a decade or more. The length of the warranty often depends on the type of product, its expected lifespan, and the manufacturer's policies.
It's essential to distinguish between an OMW and an extended warranty. An OMW is provided by the manufacturer and comes standard with the product at no additional cost. In contrast, an extended warranty is a separate, optional agreement that consumers can purchase to extend the coverage beyond the standard OMW. Extended warranties are typically sold by retailers or third-party warranty providers.
In most cases, OMWs are transferable to subsequent owners of the product. This can be a valuable selling point if you decide to sell the item before the warranty expires. However, checking the manufacturer's transferability policy is crucial, as some may impose restrictions or fees for transferring the warranty.
The coverage provided by an Original Manufacturer's Warranty is not uniform across all products or manufacturers. It typically covers defects in materials and workmanship that occur under normal use during the warranty period. Key components of coverage include:
While OMWs offer valuable protection, they often have limitations and exclusions. Common exclusions may include:
Understanding these exclusions is crucial to managing expectations regarding what the warranty will cover.
Some OMWs may offer extended coverage for specific components or issues. For example, a car manufacturer might provide extended coverage for the powertrain, while a laptop manufacturer may offer a separate warranty for accidental damage. These extended options may come at an additional cost or be bundled with the product at a higher price.
Let's explore these advantages in more detail:
An OMW provides consumers with peace of mind, knowing that the manufacturer stands behind the quality and reliability of their product. It offers a safety net in case of unexpected defects or malfunctions.
Without an OMW, consumers would bear the full cost of repairing or replacing a defective product. The warranty covers these expenses, saving consumers money.
Manufacturers often use OMWs as a testament to the quality of their products. A strong warranty can instill confidence in consumers and serve as a competitive advantage for brands.
When selling a product with an active OMW, you can often command a higher resale price. The remaining warranty coverage adds value to the product in the eyes of potential buyers.
There's a reason Liberty Home Guard was rated the #1 Home Warranty
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