Most ipad warranties cover the machine for at least the first 90 days, hardware, pre-installed software, parts, labor, etc. Some manufacturers offer a 1-year option which means parts and labor for the hardware and there are even extended warranties which can last up to 3 years.
Depending on what the peril is, you either receive a box/label to ship the machine back for repairs or for Mac you can take it to the Apple Store. For small easy fixes, they may send you the parts and instructions to fix it yourself. The things that are not covered under ipad warranty are the everyday perils of life. For example, drops, liquid spills, or moisture etc.