Meaning of Corrosion Warranty
Once installed, the product shall remain operable for some time, after which the manufacturer guarantees that the item will function normally. If the item fails to do so within the warranty period, the manufacturer will replace the faulty component.
One could say that corrosion warranties protect consumers against the risks associated with poor quality products because these warranties guarantee customers that they won’t have to pay for repairs due to defective parts. Most importantly, people are guaranteed to receive prompt service when there are problems with such products.
Although the terms ‘warranty’ and ‘guarantee’ are often used interchangeably, a warranty does not provide any assurance of performance. A guarantee implies certainty, whereas a warranty merely states that something will perform according to expectations.
“corrosion” refers to the gradual deterioration caused by moist air or water exposure. This includes rusting and corrosion, but also discolouration of metal surfaces caused by chemicals, weather damage, etc.
Because metals corrode very quickly, most manufacturers recommend that they be stored away from moisture and humidity. In addition, manufacturers usually specify conditions under which their products may be exposed to corrosive elements (such as salt).
It is best practice to keep corrosion warranties separate from standard warranties. Even if the same manufacturer provides both warranties, each warranty typically covers a specific range of operating environments. For example, the corrosion warranty might cover an appliance during normal household usage, while the standard warranty would apply when the appliance is subjected to extreme temperatures, heavy loads, etc.
Corrosion warranties are typically limited to years and mileage on vehicles and appliances. Some insurance policies also include coverage for corrosion-related issues.
What does a Corrosion Warranty cover?
A corrosion warranty protects against damage caused by moisture penetration and exposure to water. This includes rusting, a common occurrence when exposed to humid conditions such as rain showers, swimming pools, humid environments, condensation inside vehicles and submersible marine vessels (boats). Other types of corrosion include oxidation, galvanic reactions and chemical degradation.
The most common type of corrosion insurance covers rusting and the costs associated with replacing parts due to other forms of corrosion, including oxidation, galvanic reactions, etc.
Corrosion warranties typically do not cover damages from normal wear and tear, exposure to chemicals, heat, fire, impact, vandalism, mould and mildew growth or any product misuse.
A typical corrosion warranty specifies the minimum period covered and the replacement cost for each item included under the terms of the policy. Often, corrosion policies protect an unlimited number of items; however, policyholders may be required to pay higher premiums for extended-term plans.
Often the term of a corrosion warranty begins upon installation; however, some policies extend the warranty for additional periods. Many manufacturers recommend renewing corrosion warranties within 12 months after expiration to ensure that all products remain protected.
What is covered under the Global Motors’ corrosion warranty?
Corrosion is a form of metal damage caused by prolonged exposure to moisture at high temperatures. This damage usually occurs when moisture enters the vehicle through the air conditioning vents or an improperly sealed door seal.
The most common areas where car corrosion occurs include fuel lines, radiators, heater cores, exhaust systems, battery posts, mufflers, brake master cylinders, hoses, gas tanks, fender flares and windshield wipers.
Global Motors offers a 5-year/60,000-mile limited warranty for our vehicles. It also offers additional coverage options.
We cover the cost of replacing or repairing parts that fail due to corrosion because faulty materials or manufacturing defects cause the failure.
Our warranties do NOT extend to any components that may become damaged due to normal wear and tear. These items are covered separately by standard manufacturer warranties.
Global Motors wants you to drive away happy and healthy.
We offer comprehensive coverage plans to protect you and your investment.
How does it work?
Global Motors offers a corrosion warranty where the customer simply pays for repair after the fact. Allowing them to keep driving without any hassle and expense.
The cost of replacement parts is covered as well. So there is no out-of-pocket cost to the consumer.
It is important to note that corrosion damage cannot be detected during routine maintenance. However, the vehicle owner can bring the car back to GM for inspection if an accident occurs. If it finds evidence of severe damage due to corrosion, the company will replace the damaged components.
For instance, Global Motors will pay to fix the radiator if the cooling system becomes clogged due to rust. They will also pay to repaint the vehicle’s exterior if the paint job begins to peel or flake away. This way, customers receive total value for their investment in Global Motors.
In addition, Global Motors provides a lifetime powertrain warranty. This means that if the vehicles develop problems related to transmission, engine, or drive train components, the company will replace those items free of charge.
Corrosion Warranty: Pros & Cons
To most consumers, corrosion isn’t an issue until it becomes a problem. A guarantee is essentially a promise from the manufacturer that the product will perform as expected for the time covered by the guarantee.
A warranty doesn’t mean much unless there’s a defined period during which the company promises to cover any defects in the product, regardless of how minor the defects might be. This is usually measured in terms of either years or months.
Corrosion warranties are often offered with appliances, dishwashers, washing machines, water heaters and air conditioning systems. These types of warranties require periodic maintenance by the consumer, typically once per year. Maintenance includes cleaning the unit’s filter system, draining condensate pans and checking the thermostat function.
The benefits of warranties include having peace of mind knowing that there’s someone out there who’ll do whatever it takes to make sure your appliance continues working right throughout its life cycle. Another benefit is that if something breaks after you purchase the item, you may qualify for repair or replacement under warranty. However, it’s important to note that manufacturers’ warranties vary considerably, so look carefully at any express warranty before purchasing. Some manufacturers offer full-service coverage for repairs, while others limit service to scheduled maintenance visits.
Consumers also tend to pay more when they buy items with extended warranties because they feel more confident in their purchase. For example, they may prefer buying a refrigerator with a five-year or 10-year warranty rather than a three-year warranty because they expect the price to go up accordingly. On the other hand, if they purchased the same item without a warranty, they would probably spend less overall because they wouldn’t expect to spend $1000 on a $500 fridge.
In addition, extended warranties are sold along with home improvement services, typically at extra cost. Many homeowners choose to add these extras to their purchases because they feel safer paying more upfront instead of receiving little help later. Of course, these extras aren’t necessary for everyone, and even if you decide that you need them, remember that they come at additional expense.