What is a pro-rata warranty?
All Polymaster warranties are on a pro-rata basis. Under this warranty, if your product fails before the end of the warranty period, it is replaced at a cost that depends on the age of the item at the time of failure. This is calculated by the following formula: $ maximum liability = A x B/C
A = Original purchase price
B = No of years of the warranty period remaining
C = Total warranty period
For example: Tony purchases a tank for $2,000 and it comes with a 20-year warranty. It is now 15 years old and Tony would like to make a claim against his warranty.
Purchase price x number of years remaining / divided by warranty period
$2000 x 5 years divided by 20 = $500
Therefore, Tony has $500 allocated to repair or to replace the tank in the unlikelihood that something goes wrong.