Buying new equipment for your business feels pretty good—power tools in the shop, new computers for the office, or maybe even a snazzy delivery van parked out back. But all that shiny gear comes with an asterisk: what happens when something breaks while you’re counting on it most?
Enter warranties, the unsung heroes (or villains) of business purchases. Before you sign on any dotted line or click “add to cart,” here’s what every business owner should know about warranties and what to watch for behind the fine print.
Not All Warranties Are Created Equal
You ever peel off the shrink wrap and toss that warranty card in a drawer, never to be seen again? Not so fast. Some warranties are rock solid, offering full replacement or repair for years. Others are full of loopholes and exclusions—like that laptop warranty that won’t cover a thing if a drop of coffee even looks at it sideways. Always, always read the details:
- What exactly is covered—labor, parts, shipping, or just the bare minimum?
- How long does it last?
- Is it limited, extended, or “lifetime”—and what does that really mean?
The Federal Trade Commission offers tips for reading and understanding warranties before you’re stuck footing a surprise bill.
Know the Claim Process Ahead of Time
Some warranties sound generous until you actually try to make a claim. Sometimes it’s as simple as a phone call. Other times, prepare for hours on hold, confusing paperwork, or being shipped to another galaxy (or warehouse) to get repairs. Look up reviews of the manufacturer’s customer service. Is it hassle-free, or known for giving small businesses the runaround?
Pro tip: Keep copies of your receipts and warranty paperwork in a spot you’ll remember. Consider scanning and storing digital backups, too—especially for expensive equipment. Organize warranty info in a way that matches how you store equipment details, so you’re ready whenever problems pop up.
Maintenance Still Matters—Even With a Warranty
Here’s a sneaky catch: your warranty might require you to stick to a strict maintenance schedule or use specific repair services. Miss an oil change or ignore a calibration deadline, and you could void your protection.
For businesses with multiple machines or vehicles, using enterprise asset management software can help track routine checks, store warranty expiration dates, and log repairs, so nothing falls through the cracks.
Weigh Extended Warranties Carefully
Sales reps love to push extended warranties, but are they worth it? Sometimes yes—especially with high-ticket or mission-critical gear. Other times, you’re better off just setting aside your own reserve funds for repairs. Compare the price of the add-on warranty versus the actual repair costs and consider how reliable the equipment brand has been for you in the past.
Ask Before You Buy
When you’re shopping for business equipment, don’t be shy: ask pointed questions about warranties before you pay. Get it in writing, and check if coverage transfers if you sell or upgrade your equipment later. Smart warranty choices can save you thousands—or at least spare you from a major business meltdown.
So, treat warranties as important as any business decision: study, store, track, and know what you’ve really got before you bet your business on it.