With each project, there can be delays, additional request for warranty, or other factors that may occur where the equipment is not covered or protected for failures. The variance or lack of extended coverage offerings from manufacturers created a gap in the market for unplanned service events after the original manufacture warranty expired.
Factors and events where an extended service contract be an asset or resolve potential problems:
- Project delays that may allow warranties to run out before the project goes live!
- Custom designed or integrated gear packages by distributors or integrators with various manufacturers equipment.
- New projects are requiring more warranty coverage and protection.
- Many manufacturers do not have a standard model for extended service coverage.
- The risk Electrical Contractors (EC), General Contractors, or Engineering Procurement Construction (EPC) consultants to deliver turn-key projects. It reduces and mitigates the financial risk.
- Manufacturer’s different start dates of warranty; E.g. shipping date, manufactured date, or date first energized.
- Coverage challenges of original warranty such as different terms for what is covered from each manufacturer: E.g. number of years, parts only, no labor, will not cover after shipment.
- An equipment failure occurs right after the warranty expired; Who owns the resolution, cost, and repair if customer believes the equipment is still covered. This can lead to friction amongst and cost to the various parties involved in the project.
Our program is designed to meet the unique challenges for the electrical distribution equipment industry. Extended service contracts provides tools and resources for covered equipment which result in better outcomes for unplanned service events.
Extended service contracts pay for covered failures of equipment beyond the product’s original warranty. Power Assurance Solutions service contracts meet and in some cases exceed the coverage typically offered by manufacturer warranties for covered repairs. Our solution is for all industries and facilities where electrical distribution equipment is installed.
Expensive repair costs for electrical distribution assets can disrupt everyone’s business. Adding an extended service contract to your infrastructure management program, can control your labor, parts, or replacement equipment costs.
Now there is a standardized and proven independent solution for unplanned events for new equipment that can support all that manufacture, sell, and install electrical distribution gear.
Extended service contracts do a lot to account for risk and improve relationships between distributors, manufacturers, ECs and end users. In truth, extended service contracts are a real benefit to all parties throughout the process.
Benefits for all
- The end customer wins with a service program ensuring covered service events are handled with speed, expertise, with pre-paid coverage for covered failures.
- Distributors win from added value to their products and improved customer relationships.
- Contractors and EPC’s win by reducing risk and meeting bid requirements.
- Manufacturers win from both added product value and providing service for covered repairs.
Every sector within electrical distribution stands to gain from implementing extended service contracts into their current business models as many manufacturers do not have programs. Extended coverage is available for any eligible equipment that is still covered by the original manufacturers warranty.