What should I know about warranties?
Not all warranties are created equal and there are always conditions that apply. Knowing what to ask and how different warranties affect you are key. All furnace and air conditioner manufacturers offer some level of parts warranty on their products. These warranties vary in length from 1-10 years. Manufacturer warranties are often considered a better warranty then that of a local dealer based solely on the probability that the manufacturer is less likely to go out of business during the warranty period.
To keep your warranty valid annual maintenance is required. Just like a new car that has been driven for 100,000 kilometers without an oil change is unlikely to have the manufacturer pay for a new motor, the same is true for your new furnace or air conditioner.
Also ask whether the warranty is pro-rated (does the warranty pay the full replacement cost or will it only cover the value that they deem remaining?). This means if the full value of the part is $100.00 and the life expectancy is 10 years and you have used the part for 6 years then the warranty will only cover $40.00 not the full $100.00. Is the warranty transferable to a new homeowner if you decide to sell your home? Does the warranty include overtime charges if service is required outside of normal business hours?