There are numerous factors to consider when purchasing a warranty program with your new EDM, let’s examine three important ones.
1. Price Versus Benefits/Extras
Let’s face it, price is on everyone’s mind. But we’re not talking about being price conscious here. The price of an EDM warranty reflects the quality of the product being sold. If you compare three warranties and one of those costs much less than the other two, or one is much more expensive than the other two, it’s time for a closer look.. This is a good place to compare benefits to make sure the warranties are similar. Perhaps one of them has more benefits in addition to the standard warranty coverage.
An extended warranty should include some extra benefits in addition to the covered parts, labor and travel. When purchasing an extended warranty you should ask what else you are getting for buying this warranty? Will you have discounts on consumables? Is the warranty transferable? Will you get any bonuses or specials? What happens after the warranty expires? These are all items to consider and question.
For how many years can you warranty a machine after initial purchase? The longer, the better. This is a good area to ask questions and learn about the options for the future.
• If you purchase an extended warranty now, can you further extend it when it is close to its expiration?
• If your extended warranty does expire, is there a way to put the machine back under warranty?
These are important questions to ask before you commit to a warranty.
3. Preventive Maintenance Service
We know preventive maintenance service is a part of any warranty, but what will it cost you as the customer to maintain those services? Make sure you always ask and are clear about what is expected of you and how much it will cost.
• Are there any hidden fees–such as paying for travel for someone to come out to perform the preventive maintenance?
• Is the preventive maintenance a standard price?
• Can you pre-pay for preventive maintenance when you buy the warranty?
These are all important questions and factors to consider when signing up for an extended warranty.
You also need to review what the preventive maintenance entails. Ask the manufacturer for the checklist they use when performing preventive maintenance service. This will give you a good idea of what is being done. Preventive maintenance service also helps in the long term since the service engineer will catch anything that may be going wrong with the machine long before you even notice—and he may fix it while he is there, costing you nothing.