Top Reasons to add extended warranties
Should you buy extended warranties for your construction equipment? The answer is probably yes, but it’s up to you to weigh the pros and cons. Here are some of top reasons an extended warranty can be a great investment:
Customization
Every business has different challenges, different budget and a different lineup of heavy equipment. Extended warranties can be tailored to fit your company needs, machine by machine. For example, with ADI’s Protect My Iron extended warranties you could choose coverage for:
Engine only- Component only
- Engine, power transmission and drive systems
- Engine, power transmission, drive systems and hydraulic systems
- Engine, power transmission, drive systems, hydraulic systems, vibratory components and swing gear assembly
Protect your cash flow
Maintain maximum cash flow for greater business flexibility, rather than setting money aside “just in case,” taking that cash out of play for capital improvements, marketing, etc.
Predictability
The cost of extended warranty premiums is known and consistent, whereas a sudden significant expense can throw the proverbial monkey wrench into your business plans.
Reduced stress
We could all use one less thing to worry about. There is no guarantee that even the best-cared-for equipment won’t break down, but if the worst happens, an extended warranty ensures you are fully prepared to handle the problem as efficiently as possible.
Savings
If something does go wrong, the cost will be covered.
Facilitate repairs
Having an extended warranty in place can streamline the repair process. Coverage includes parts and labor, and you can be confident the work will be done by your usual, trusted dealer and their top-notch service and repair techs.
Increased resale value
An extended warranty augments the machine’s maintenance records to show the equipment has been routinely well-cared for, increasing buyer confidence. An existing warranty also adds real value to the machine.
Construction firms from owner/operators to the biggest names in the industry have to be agile and operate cost-effectively in order to remain in business. With so many critical details to consider on a daily basis, extended warranties can help lighten the load.
