A television set is guaranteed by the manufacturer aganist defect for 90days is considered as insurance?
Answer:
No, it's not insurance, it's a warranty, and is only as good as the company backing it up - when they go under, your warranty is worth NOTHING. It's not covered by their insurance, either.
it is considered warranty. The manufacturer promises against defects.
Insurance would be warranty coverage by a third party perhaps.
no..it's not..if your tv set is guaranteed against defect, that means you are getting a warranty that the tv will be in working condition..however if you have a working condition tv set but was struck by lightning and you are able to get a completely new tv set by the manufacturer.that means you are getting an insurance for the tv set from the manufacturer !!
No. They just guarantee that the unit will work. If it is a warranty for 90 days, yes. Guarantee and warranty is two different things. Guarantee is to assure that the product is working. Warranty is to assure that, when the unit broke down within the period the manufacturer set (ie. 6 months or 1 year), they will repair it free of charge (materials and labor), depending on the agreement written in the warranty.
A warranty is insurance and this warranty is often backed by an insurance company. If the set has a fault then the shop will repair the defect and claim on the warranty
nope. its a warranty
no. it only covers defects in workmanship. It does not cover things like lighting strike or physical damage.
Your ques has the ans, it is warranty against defects. Simple Eh! Insurance can never be against defects it is only against accidents.
not insurance but rather assurance that it will work that long
By definition, "Insurance" is the transfer of risk from one to another with an exchange of a premium.
A warranty the TV company has is not insurance, it is a guarantee. However if you PURCHASE an extended warranty with money (aka the premium) you are transferring the risk of the TV breaking or being defective to another entity for a certain amount length of time like term life insurance.
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