Posted on: March 5, 2018Warranties work by offering valuable coverage for your products, services and systems. A product or system like a toaster or an HVAC system can be protected by a warranty. How it works is that when there is a problem with the item under warranty, the issuer of the warranty pays for it to be fixed – either by sending a service technician or by having you return the item for repair or they can even replace it. There are all kinds of warranties available for any number of items. You can even purchase a home warranty to get general coverage for almost all the appliances and systems in your home. Each warranty is unique but understanding the basics will help you better evaluate the coverage available with yours.