specifics vary depending on a number of factors.
14) Home warranties are similar in many respects to homeowner's insurance policies, but while homeowner's policies typically do not cover loss due to "wear and tear" a home warranty
contract generally will.
Look for any conditions or limitations, For example, is there a "lemon clause" included in the warranty
stating that after a few repairs the product will be replaced?
For instance, Nicolini said one client was interested in purchasing an industry loss warranty
to cover the third hurricane of a Category 3 or higher that makes landfall in the United States in 12 months or 24 months.
How do you know if your warranty
is "limited" (has some form of restriction)?
Some companies have been slow to change this approach because warranty
processing is so labor-intensive and because it is undersupported technologically--often by the limited, batch-based functionality of enterprise resource planning (ERP) systems.
Never buy an extended warranty
without checking out the company and the coverage and asking the dealer if he will stand by the customer no matter what the controversy is, even if the cause of the problem is questionable.
In Figure 1, warranty
period can be ended at mileage K(case 1) or at age T(case 2).
benchmark your organisation's performance in the extended warranty
sector: are your cross-selling rates in line with the market averages described in this study?
For example, if the warranty
includes wind coverage, question what the speeds of "gale-force winds" are.
Power and Associates for its electrical or mechanical components, or if you plan on keeping the vehicle beyond the basic vehicle warranty
, you may want consider an extended service contract," says Jeff Fortson, an automotive consultant with JeffCars.
Suggesting that a homeowner renew a warranty
as each one-year warranty
is about to expire, provides an agent a terrific, built-in opportunity to maintain regular contact with clients and nurture his role as a client's trusted long-term partner.