Does a warranty top a guarantee?
I AM often asked: “What is the difference between a warranty and a guarantee?”
Here is the lowdown on what you need to know. Are they the same thing?
I keep on hearing so- called consumer experts say they are the same but this is absolute nonsense. They are, in fact, very different. What is a guarantee?
Guarantees are usually free and offered by the manufacturer. They are effectively a pledge about the quality of a product or service and a promise to rectify any problems that occur during the period of the guarantee. So if something goes wrong with a product you buy you will get a repair or replacement under the guarantee.
Word of warning – you often need to complete and send off a registration card to validate the guarantee. What is a warranty?
Warranties are not usually free. They resemble insurance policies in that you pay a premium to insure against problems with the product or service.
Rather than being a simple guarantee, a warranty takes the form of a legal contract that is enforceable in court. They also tend to last longer than guarantees. This is why you will sometime see warranties referred to as an “extended guarantee”. Which one provides the most protection? Firstly both guarantees and warranties rarely offer cover in case of wear-and-tear or accidental damage.
A warranty will provide more peace of mind because it will be generally for a far longer period than a guarantee and offer a wider protection – in recognition of the fact that you have paid for it.
However, you are always reliant on the company that provides the warranty still being in business at the time that you need to call upon it. If the warranty provider goes bust your warranty goes down in flames with it. The only exception to this is when you take out an insurancebacked warranty. Other protections
Even if you have a warranty or guarantee you will still have your other consumer rights.
So, if you cannot get a remedy under the guarantee or warranty you will still have all the benefit of the law under the Consumer Rights Act 2015.
This states (a) goods must be fit for purpose, of satisfactory quality and as described. And (b) services must be provided with reasonable care and skill.