Forklift warranties:

how to stack the odds in your favour Is buying an extended warranty a sensible safeguard or a waste of cash? Here are seven essential questions to ask when making your choice.

Do you like taking risks? At some time most of us have played the lottery or placed a bet on the outcome of a sporting event. But would you do the same with your day-to-day business.

Above: Mitsubishi five year Extended Powertrain Warranty. Look closely at its terms and you'll see it includes more cover than other extended warranties – including ‘unlimited maximum claim'.

Some people compare extended warranties to taking a gamble: what are the odds of something going wrong? Does that risk justify the cost of an extended warranty? Do you take a chance or go without? Will it cover the component that goes wrong?

With a major investment, such as a forklift truck, the stakes are high. If something goes wrong and there's no warranty, the problems can escalate rapidly. You lose valuable time trying to get things sorted. Meanwhile, you're a truck down – for days, or maybe longer. The workload backs up and customers are upset. Stress levels rocket and costs soar.

So should you always take the maximum warranty your dealer offers?

It depends.

What's worse than no extended warranty?

Answer: Having a bad extended warranty – one that fails to provide the cover you expected. When this happens, you're paying out and losing out. Small print can have big implications.

The best approach is to view the extended warranty as an integral part of your forklift purchase. It could prove as important as the engine, hydraulics or the axles – so you should examine it with just as much care.

But what should you look for? This checklist should help you find the best available.

To read more and find out the 7 essential questions please go to: https://forkliftbriefing.com/