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An extended warranty provides similar coverage beyond those time or mileage limits. Legally, only the original manufacturer can "extend" a warranty. Other providers often use the term "extended warranty" to refer to similar products, although technically they should be considered Vehicle Service Contracts rather than "warranties."
Warranty data consists of claims data and supplementary data. Claims data are the data collected during the servicing of claims under warranty and supplementary data are additional data such as production and marketing data. [38] This data can help determine product reliability and plan for future modifications. [38]
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
Warranty claims historically required privity between the injured party and the manufacturer or seller; in plain English, they must be dealing directly with one another. As noted above, this requirement was demolished in the landmark Henningsen case. Breach of warranty-based product liability claims usually focus on one of three types:
Many types of insurance include an aspect of liability coverage. For example, a homeowner's insurance policy will normally include liability coverage which protects the insured in the event of a claim brought by someone who slips and falls on the property; automobile insurance also includes an aspect of liability insurance that indemnifies ...
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