What you need to know about lifetime warranties
Lifetime warranties are an indispensable tool for building consumer confidence and brand loyalty. It doesn’t matter if you manufacture pants or pole saws, when a shopper sees the words “lifetime warranty,” they immediately feel more certain about making a purchase. As beneficial as these guarantees can be to your business, however, there aren’t very many companies that offer them.
Why is a lifetime warranty a good idea for a manufacturer?
A lifetime warranty is a sales tool. It shows the manufacturer has faith in its product and is willing to back up that faith with a guarantee. It can help the individual who is tottering between two brands make a final decision. A lifetime warranty can increase brand recognition, brand loyalty, word of mouth and sales.
How long does a lifetime warranty last?
According to the Federal Trade Commission, a lifetime warranty can mean at least three different things, and it’s up to the warrantor to define that meaning clearly. If you’re buying a product, such as a muffler for a car, the lifetime warranty can mean for as long as the car lasts. Alternatively, a lifetime warranty can mean for as long as you own the product. In other words, if you sell the vehicle, the warranty is no longer good. Ironically, one of the least often used meanings of a lifetime warranty is for the life of the original purchaser.
What could void a lifetime warranty?
While the purpose of a lifetime warranty is to give a customer peace of mind against defects in materials and workmanship, there are a few common reasons why coverage for a lifetime warranty may stop. Here are four:
- If a manufacturer ceases doing business, it ends the lifetime warranty.
- When a company purchases another company, it doesn’t always continue offering the same warranty.
- If product failure is a result of misuse or lack of proper maintenance, it can void the warranty.
- In a product with many parts, such as a motor vehicle, the individual part that failed might not be covered by the lifetime warranty.
Products that have lifetime warranties
Darn Tough Women’s Treeline Hike/Trek Sock
Darn Tough socks use seamless technology to create an ultra-smooth fit. This offering is near mid-calf height and made of merino wool, nylon and Lycra spandex for a balance of stretch and comfort. According to the manufacturer, “If these socks wear, tear, or develop holes, Darn Tough will replace them. No strings. No conditions. For life.” Sold by Amazon
A.T. Cross Century Classic Limited Collection for Scuderia Ferrari Ballpoint Pen
This black, medium luxury ballpoint pen uses specially formulated ink that flows smoothly to deliver an exceptional writing experience. The high-end pen comes in a Scuderia Ferrari branded gift box and is covered by a lifetime mechanical warranty. Sold by Amazon
JanSport Cool Student Backpack
JanSport makes hugely popular and reliable backpacks. The Cool Student model has a padded back panel and S-curve shoulder straps for comfort. The leather bottom increases durability, while the various compartments help students organize their educational tools. This backpack comes with a lifetime manufacturer limited warranty. Sold by Amazon, Macy’s and Staples
There are 57 pieces in this comprehensive home tool kit. You get everything you need for weekend repairs, including a hammer, screwdrivers, a hex key set, a case and much more. All Craftsman hand tools come with a full lifetime warranty. Sold by Amazon
This 9-inch knife has a rugged 4.5-inch blade. It’s made of high-carbon steel and comes with a black, molded polymer sheath. The manufacturer states that it stands behind its knives with a 100% unconditional lifetime promise that if the knife ever breaks, the company will replace it. Sold by Amazon
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Allen Foster writes for BestReviews. BestReviews has helped millions of consumers simplify their purchasing decisions, saving them time and money.
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