National Home Warranty Day is on February 10, and we are here to help you celebrate the day in the best way possible. Did you know that it has been five years since National Home Warranty Day was celebrated for the first time? Home warranties help save us money by providing us with subsidized repair and replacement work of home appliances. This day was created so that we could appreciate the value of home warranties.
HISTORY OF NATIONAL HOME WARRANTY DAY
The importance and prevalence of warranties can be seen throughout history. ‘Caveat Emptor,’ a Latin term that means ‘Let the buyer be known,’ was a contract protected under the common law. Initially, warranties had a Privity Requirement, which meant that taxes applied to only those who were directly involved in the transaction. Gradually, the Privity Requirement was reduced to protect the consumers, and in a few years, it was completely abolished.
In the 1880s, the United States decided to include the characterization of the quantity and quality of an article sold by expanding warranty doctrines. It was in the 1900s when a warranty for food and drink safety was introduced. By 1964, it was applied to most of the daily products used by consumers.
This was also the time when Tort Law was introduced. Sales Laws in the United States were governed by the Uniform Commercial Code (U.C.C.). In 1975, the Magnuson-Moss Warranty Act was introduced so that the consumers could read the coverage of warranties. The Contract For The International Sales of Goods (C.I.S.G.), which was established in the 1980s, had given out similar instructions and laws to make the consumer more aware of the overall coverage of warranties.
By the late 1990s, home warranties had become immensely popular. It protected consumers from the high cost of repair of common household appliances and systems. Though the exact origins of National Home Warranty Day are not known, it is said that it was 2-10 Home Buyers Warranty, a home warranty provider company that first created National Home Warranty Day. Since then it has been celebrated annually on February 10 to show appreciation for home warranties.
NATIONAL HOME WARRANTY DAY TIMELINE
The Warranty Doctrine is Expanded
The United States expands the warranty doctrine to include the description of the character of the product sold. 1900s The Food Safety Warranty
The warranty for the safety of food and drinks is introduced. 1975 The Magnuson-Moss Act Is Passed
The Magnuson-Moss Act is passed that allows the consumers to know what is covered in the warranty. 2016 National Home Warranty Day
National Home Warranty Day is created to raise awareness about home warranties.
NATIONAL HOME WARRANTY DAY ACTIVITIES
- Get a home warranty – If you don’t have a home warranty already, this day would be the best day to get one. A simple home warranty can help you save thousands, sometimes millions, depending on the severity of damage of the product or system in your home.
- Examine your existing home warranty – If you already have a home warranty, use this day to cross-check it and examine if everything is in place. Make sure that your home warranty covers all the essential items at home and also be sure to check the dates.
- Make social media posts – Let everyone know the importance of this day. Make a blog post on your social media page on the topic of home warranties and National Home Warranty Day so that people are educated about the seriousness of home warranties.
5 FACTS ABOUT WARRANTIES THAT WILL BLOW YOUR MIND
- It need not be stated – A seller needs to only assert the facts and a sale need not state that a warranty exists.
- Puffery is no warranty – Something like, “This is the best fridge in the world” is not a warranty.
- The warrantor is legally liable – It is known as a breach of warranty if the warranty is false and the warrantor is liable, just as if the warranty was legitimate.
- There are two types of warranties – The two types of warranties are expressed and implied, which further includes subcategories.
- Three theories protect consumers – Contract theory, due-care theory, and strict-liability theory are the three theories protecting the consumer.
WHY WE LOVE NATIONAL HOME WARRANTY DAY
It teaches us about the importance of having a home warranty
We often take things for granted and only realize the value of money when something from our kitchen goes kaput. This day reminds us of the importance of having a home warranty and the money it can help us save.
It is a reminder to reexamine home warranties
Many of us take a home warranty and then think that the job’s done. Your responsibility does not end here. It is important to check if your home warranty covers all the essential items, and also it is crucial to check the expiry dates. This day serves as a reminder to reexamine our home warranties and keep everything updated.
It is a good day to learn more
We often get so busy with our lives that we ignore some of the things we have knowledge about. This day gives us the perfect opportunity to learn more about warranties, guarantees, contract laws, as well as Tort law, and expand our knowledge.