When buying a big household item like a fridge or washing machine, it is important to establish the difference between a warranty and guarantee and what one you need to protect the item if it ever broke.

What is a warranty?

Warranties are usually purchased additionally to the product you are buying.

It resembles insurance policies where you pay a premium to ensure against problems with the product or service.

Alice explained: “You might buy it [warranty] in a shop but it’s always underwritten by an insurance company. 

“They last a set amount of time and they cover you for a varied amount of things.

“So there are lots of other things you should look at…also…am I covered somewhere else and is there a better way of doing it.”

White Goods including fridges and washing machines, as well as televisions, are all to be impacted under new Government plans whose new legislation encourages homeowners to fix their appliances rather than replace them.

The proposals by ministers are designed to tackle the lifespan of a product, causing them to be replaced more regularly. 

The laws being brought in require spare parts to be available for a minimum of seven years, to allow white goods and electrical items to last longer.

Labels on products could also be made a requirement so that consumers know their expected lifespan.

The Government is said to launch a framework in the coming months for energy products. 

Main Source link