Building owners tend to think of warranties
as insurance policies, but they're not.
103) While a number of shingle or manufacturer warranties
may last anywhere from twenty to fifty years, (104) the shingle or manufacturer warranties
will not cover defects in workmanship.
Federal law requires that warranties
be available for consumers to read before they buy.
Pricing for industry loss warranties
also has increased.
The Magnuson-Moss Warranty Act is the federal law governing written warranties
on consumer products and is overseen by the Federal Trade Commission.
Better pricing and management of extended warranties
provide a client with protection and peace of mind.
Based on a primary survey of 1,000 consumers in Spain carried out in November and December 2010, the research provides valuable data concerning the extent to which they take out extended warranties
with audio systems, desktop computers, dishwashers, fridges / freezers, games consoles, laptops / netbooks, set-top boxes, televisions and washing machines with data shown separately for each of these nine types of product.
According to the Rosemont, IL based National Roofing Contractors Association (NRCA) in its roofing warranties
advisory bulletin: "There is a common misconception by roofing consumers that long-term warranties
are all-inclusive insurance policies designed to cover virtually any roofing problem, regardless of the cause or circumstance.
In fact, retail industry analysts say that last year, all of Circuit City's operating income came from extended warranties
Language to exclude all implied warranties
is sufficient if it states, for example, "There are no warranties
which extend beyond the face hereof.
Losses on the new car warranties
don't start showing up until nearly three years later.