Good Sams Extended warranty

DBOL · 12-04-2009, 12:15 PM

What do you think about Good sams extended warranty DP M/H!

soberjoe · 12-04-2009, 12:54 PM

Put the cost of that into a savings account and add a bit to it each month. You'll be money ahead paying for your repairs.

powerboatr · 12-04-2009, 01:16 PM

Darrel
after we purchased our rig i looked into it and was shocked by the price

and the small time frame it covered.
I agree with putting $$ in a savings account then using that.

George Schweikle · 12-04-2009, 07:29 PM

It's like any insurance policy; they are betting that nothing bad will happen and they will get a lot of premiums. You are betting that a lot bad will happen, and you will not have paid many premiums. Realistically, the odds are skewed in favor of the insurance companies (in this case, Good Sam) since they are in business to make a profit. There's nothing wrong with this if you choose to buy the warranty.

My personal opinion is to save the premium. If you subscribe to Motorhome magazine, read the many Action Line requests for help with denied premiums. And, this magazine is owned by the same company (Affinity Group) that sells the insurance (!)

Quote:

Originally Posted by DBOL

What do you think about Good sams extended warranty DP M/H!

JohnCamelot · 12-05-2009, 06:47 AM

When I bought my new Monaco this year it came without a warranty. Because of that, I was able to negotiate a great price, and saved about $30,000 over a warrantied unit.

Then, I got the Good Sam Extended Warranty and selected the lowest premium, longest duration, highest deductible. This meant a 4 year policy with $500 deductible for $1,200 or so premium. Sure, $1,200 is still a lot of money but if any major problem occurred during the next 4 years I am mostly covered. This was peace of mind for me, so I think it was worth it.

That said, you still have to be careful as the policy excludes many things that frequently go wrong. Read the policy terms carefully and decide if the cost is worth it for you, and make your decision based on your needs.

== John

The Woodieboys · 12-05-2009, 10:02 AM

Short version is that an extended warranty is a gamble between you and the warranty company.

You are betting there is a major problem during the warranty period which will cost more than the warranty price.

The warranty company is betting just the opposite.

It really comes down to whether you want to take the gamble or not. Each person can answer that question for themselves.