Buying something that is expensive is never something that you are going to enter lightly. You will want to take the time to think about what you are buying as well as taking the time to make sure that it is a sound investment at this point you may want to consider purchasing warranty protection.
Depending on what you buy, you may want to take out a warranty protection. Which, is much like an insurance policy, giving peace of mind when buying and owning a new product or item.
A warranty is a legally binding assurance that will cover the item should any problems develop. These problems could be caused by a defect in the manufacturing of the product, or develop over time. But with a warranty, you are going to feel safe in the knowledge that the issue will be remedied.
Warranties do not come for free, and they will be extended to cover a variety of things which includes accidental damage, cost of repairs and the cost of replacement parts.
It is most common place that you will take out a warranty when you buy electrical products, these warranties will then last for anywhere from 12 months up to 2 years. You may even find, in some cases, that more expensive goods can have a warranty taken out for up to 5 years.
An extended warranty protection is a warranty that runs after the basic 1-2 warranty has expired. These warranties will often run for 2-3 years after the original warranty. These extended warranties will often cover the same as the basic warranty, however, you may find that it also covers accidental damage and even, theft and loss in some circumstances.
In 2005, the Supply of Extended Warranties on Domestic Electrical Goods Order was introduced. This Order put into place that retailers selling electrical goods, must supply their extended warranties taking into account the following factors:
- That the price of the extended warranty is displayed alongside the item, not only when it is on display in a store, but also if it is advertised through the media.
- That they have provided information regarding the statutory rights of the consumer.
- That they have provided information regarding the consumers right to cancel as well as information that relates to what to do if they go out of business.
- That the consumer understands what information needs to be provided.
- Highlighting the 45 day cooling off period within which an extended warranty can be cancelled.
- Highlighting the consumer’s right to purchase an extended warranty for up to 30 days on the same terms that it was first offered.
It is important to remember, however, that these rules do not apply in the following circumstances:
- If the warranty was free
- If the warranty does not relate to the repair or the replacement of the goods
What about the rights that I have under the Sale of Goods Act?
If you haven’t taken out a warranty on goods that you have bought, then you are still going to be covered by your statutory rights under the Sale of Goods Act 1979.
In the absence of a warranty, the retailer of the goods is automatically liable for any faults that could develop within the first 6 months of owning the item.
Following this initial 6 month period, if there are any faults, then the buyer will need to have proof that the faults have not occurred due to misuse of the product, or general wear and tear.
Other factors will also be taken into account at this time, such as the price that you paid, the specification and the model of the goods, the time that you have had the goods, and the length of time that you should expect goods of this type to last.
Think of it this way, if you bought something that should last 6 years, but that has broken down after two years, then the supplier or retailer is liable to provide a satisfactory repair.
If this cannot happen, then the supplier should provide you with a replacement product. If neither of these things can be agreed on, then a partial refund of the cost of the product can be provided.
What if my warranty has run out?
If you purchased a warranty that has run out, then this will have no effect on your statutory rights under the Sale of Goods Act. This means that the retailer cannot refuse to provide you with a repair, despite the warranty expiring.
Your statutory rights within the Sale of Goods Act can last up to 6 years, however, this will depend on the product that you have bought.