I would think they would take care of the problem. However, I quit buying Fenwicks after buying a decent downrigger/mooching rod ($90)) from Outdoor Emporium and broke it 2 times inside of a year. The guys at Outdoor Emporium said the warranty period would end after one year plus is was costing $14 each time I returned it. To make a long story short, I gave them the rod back and bought an Eagle Claw ($25) and a Shimano ($35) and haven't had any problems since.

Note: Every boat needs a yellow eagle claw rod on board.