Did you read the warranty and other info that came with it?
Maglites are tough to begin with and LED's are tough too. Mostly LED's don't burn out unless run for many thousands of hours. They survive being dropped much better than incandescent bulbs.
That combination is tough. Pretty much, unless you abuse it, you'll probably never see the light fail. And anything short of abuse ought to be covered by Maglite - they have a lifetime warranty.
However, battery leakage is probably the #1 reason for failure and Maglite will not cover that, so you'd have to put in a claim with the folks who manufactured the batteries. There's another reason to not use crappy batteries.
Things to avoid:
- don't leave batteries in it if it's going to be unused for awhile (seriously, this is the biggest mistake most people make). Use quality batteries only. Only use batteries that are meant to be used in it. Don't mix and match batteries.
- don't abuse the light. It's not a hammer. Don't set it on fire. Don't throw it off of buildings. It's not a chew toy for Godzilla. Don't use it to stir cauldrons of acid. Etc.
- it's water resistant but it's not waterproof (it's not made for underwater use).
Other than that I can't think of anything. They're tough. Maglite has lots of stories on their website of how much the lights can take and that makes for amusing reading. Read the info that came with the light or read it and the FAQ on their website. All of your questions can be answered there.
I'll say it one more time, don't store batteries in something that's used only once in a great while. There's lots of info on the forum and the web about battery leakage. Most of it boils down to remove batteries if you aren't gonna use it, only use quality batteries, and only use batteries that are all fresh and that are the same type & brand. Failure to follow all of these simple rules will usually guarantee the batteries will leak.