About a year and a half ago I purchased one of the SmartPak Indestructible blankets (original review here). Roz wore it all last winter but near the end he ripped a quarter sized hole in the tail flap, a few smaller holes on the body of the blanket, along with pulling a section of the piping off. I used it the rest of the winter and washed it up this summer before contacting Smartpak regarding the return. They asked me which blanket it was (I have another one for Benny in a different size) and said they would make a note on my account. They told me to send it back using any return label I had laying around for them, or that they could send me a label if I didn't have one. As it turned out I had just received an order from them and so I had a label and even a great box to use.
I'm not sure the exact day that I shipped my blanket back to SmartPak but I received confirmation that they received it on August 27th. I arrived home last night to a brand new rain sheet. How cool is that!? SmartPak recently came out with a high neck version of the blanket and I'm interested in purchasing that in a medium weight for Roz.
The only issue I foresee is that a few week turn around in the middle of the winter could be an issue. I suspect you could probably order and pay for a new blanket and then return your old one for a refund. Benny is turned out in a group of geldings who are notorious for ripping blankets. I'll be interested to see how his holds up since he didn't get his until late in the season last year (after going through two others). Yet again I'd give SmartPak two thumbs up!