When you think about saving money within your facility, I’m betting that checking parts of your hardware to see if they’re under warranty isn’t the first thing that comes to mind. Yes, warranties cost money. But they can also save you money in the long run.

Just recently we were asked the following:

“How do I reduce maintenance spend on doors and locks?”

Most companies aren’t aware of the amount of money they can save by keeping track of which parts of their hardware are still under warranty. In fact, we checked with one national chain and they have upwards of  $4,570,000 parts under warranty. That isn’t pocket change.

Warranty Periods

While most products have a standard one year warranty, there are many products with much longer warranties than that. Especially with grade 1 and grade 2 hardware, you’ll see warranties of up to two years, sometimes even  five to ten years. The more expensive your hardware, the greater the chance you might even end up with a lifetime warranty.

To make sure you’re getting the most out of your warranties, don’t leave the research up to your general contractor. If you’re not the person on top of your warranties,  you could miss out on thousands of dollars  worth of savings. Let’s face it, no one is going to be as attentive to your organization’s potential savings as you will be.  The national chain mentioned above? They reported savings of $75,000 on average for their three main parts alone. If that’s not enough to make you turn your head towards your warranty, I’m not sure what is.

Levers, closers, and exit devices are where some of your greatest savings can be found, so doing a little bit of research on your hardware can lead to cost savings. . This is assuming that you have proper grade hardware installed.

General Contractor Warranty

General contractors often provide a one-year warranty for any jobs they do, covering parts and labor. Remember, if you start having issues with any of your hardware within the first year of your building’s operation, call back your general contractor. That way they eat the cost of repairs or replacements, and you don’t.

Tracking Warranties

Actually tracking the warranties isn’t an easy task. It requires knowing every piece of hardware, and each piece’s  individual warranty. Depending on the size of your company, it’s generally not possible to do alone. That’s why we suggest working with your vendors to ensure they’re handling the warranty management component for you. If they’re overlooking your warranties, you might be  leaving piles of cash on the table.

If you have any questions about tracking your hardware warranties, give us a call at LockNet. We’ll be more than willing to answer any questions you might have.