Alison's Money Rule

Product warranties are like gold nuggets buried in the ground – you just have to dig them up and put them to good use.

Warranty gold

Archive

Rules of thumb
June 29, 2010

Credit scores
June 22, 2010

Date on a dime
June 8, 2010

Great idea into a great business
June 1, 2010

New Grads
May 25, 2010

Financial Paralysis
May 18, 2010

Contest Queen
May 11, 2010

Rule of twos
May 4, 2010

Home buyer costs
April 20, 2010

Don't be afraid of the big bad tax man or woman.
March 16, 2010

Do your own taxes
March 9, 2010

Rules for self-employment
March 2, 2010

New mortgage rules
February 23, 2010

Self-employed mortgage woes
February 16, 2010

Borrowing to contribute to RRSP
February 9, 2010

The R mantra -- Regift.
January 5, 2010

Cross border bargains...
December 1, 2009

Warranty gold
November 17, 2009

Benefit from the loonie rise
October 20, 2009

Forget the February RRSP deadline.
September 29, 2009

Can I afford my house?
September 22, 2009

Ease college and university students into independence
September 15, 2009

Eliminate Back to School Shopping Stress
August 25, 2009

Drink no wine before it’s time
August 18, 2009

Living on a baby budget
July 28, 2009

A couple of months ago I got fed up with the fraying and splitting rubber sleeve on the foaming wand of my Breville espresso machine and called up the manufacturer to complain. A sweet lady apologised and said she’d send a replacement out right away by courier. Free, no less.

That easy and satisfying solution got me thinking about all the times I’ve benefited from warranties, sometimes unexpectedly.

A few years back, I took my collection of Henckel knives into a free sharpening clinic. One of my favourites had the point broken off after some unauthorized workshop surgery done by my husband years earlier. Even though I confessed to my spouse’s crime the manufacturer’s representative took one look at it, furrowed his brow as if the knife was at fault and said, “That shouldn’t happen.” Voilà, a brand new implement.

On another occasion we ordered a replacement for our Frigidaire fridge, by then a year or so past the warranty. When the repairman delivered it he noticed a crack on the plastic base of the fridge and said, “I think that that’s a new fridge.” We were stunned when a one showed up a couple of weeks later. We had forgotten that there was a twenty year warranty on the liner.

Similarly, Obus Forme replaced the back and seat of a 10-year-old office chair. Again, we’d forgotten those parts carried a lifetime part guarantee.

Almost everything we buy, from vice grips to light bulbs, has some kind of guarantee attached and sometimes manufacturers will even replace items after the warranty has expired – you won’t know until you ask.

Yes, some manufacturers don’t stand behind their product but my experience is that mostly they do, especially those located in Canada or the US. Mining your warranties can pay off in thousands of dollars of replacement items over the years.

Now, if I can just find the lifetime warranties on the all the garden hoses I’ve bought over the years.