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Old 07-03-2014, 01:08 PM   #1
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Are Extended Service Agreements Worth It?

We have a 2008 Winnebago Adventurer. We purchased an Extended Service Agreement at the time we bought our RV new in 2007. That Warranty is due to expire on July 9, 2014.

To continue the Warranty for 4 more years will cost $5182.00 with $100.00 deductible. It does cover a lot of major and minor breakdowns.

We have XRide Protective.

Does anyone have an opinion to offer us on this type of protection?
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Old 07-03-2014, 01:15 PM   #2
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Frankly, you would probably be better off to put that money into the best interest bearing account you can find, and draw from it for repairs. We bought a four year extended service contract about 18 months ago when we bought a 2005 Itasca Horizon. So far, it looks like we will have spent several thousand dollars more for the contract than will be spent on repairs. I don't plan on buying another one. Either way is a gamble. You're betting that your coach will have more problems than the insurance company thinks it will. If you take good care of your machine, you'll lose the bet most of the time. That's the only way the companies issuing extended service contracts can make any profits.
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Old 07-03-2014, 02:06 PM   #3
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It all depends on your luck, I bought the extended service contract on my 05 Vectra, so far I have had a new metal overflow coolant tank and microwave/convection oven replaced under the terms of the contract. Am I money ahead, NO, but then I have 5 years to go and lots of miles ahead of me.
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Old 07-03-2014, 04:48 PM   #4
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In a seven year extended, I was dollars ahead due to a power surge issue that caused the generator/ATS system to fail several times. Also had to replace microwave, step motor, slide out motor, convertor, (three times). Also had a starter fail (was 1500 bucks just that time) 165 bucks an hour isn't unheard of for flat rates and trouble shooting of electrical issues can be time consuming.
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Old 07-03-2014, 05:43 PM   #5
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Its quite simple really.
Fact ! If you are an average person w/ average luck, you will end up on the short end of the stick, bigtime. Its always been that way, always will be. Therefore I would never tell anyone to buy, or not to buy one. For myself, I wouldn't get caught dead buying one ! And only one time in my life was that a bad decision, but not by much. I am many $s ahead by never buying one.
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Old 07-03-2014, 07:41 PM   #6
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Quote:
Originally Posted by RJsfishin View Post
Its quite simple really.
Fact ! If you are an average person w/ average luck, you will end up on the short end of the stick, bigtime. Its always been that way, always will be. Therefore I would never tell anyone to buy, or not to buy one. For myself, I wouldn't get caught dead buying one ! And only one time in my life was that a bad decision, but not by much. I am many $s ahead by never buying one.

Ditto for me. It's a little bit like the lottery where you know the aggregate winnings are only 50% of the ticket sales. I would rather put the money in the stock market where the odds are better at winning.
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Old 07-21-2014, 01:53 PM   #7
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I would never buy an extended warranty. Remember when you buy the warranty they include it into the financing agreement so you are not only buying the policy, you are paying a LOAD of interest on it too due to the length of rv loans. Take that money and put it in the bank, at least you uare making whatever meager amount they are paying and not compounding interest over a LONG time.
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Old 07-21-2014, 02:49 PM   #8
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Shop for the same protection from another source - sometimes you can get much better deals on the same warranty.

Are they worth it? Statistically, no. It's insurance and it's structured so that the underwriter comes out ahead. Can you be a lucky winner? Yes.. and it does happen... So it's mainly a "risk tolerance" and might be something to consider if you couldn't budget a major repair.
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Old 07-21-2014, 03:46 PM   #9
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To Cochise1949 did you buy one on your new 2014, if so who with?
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Old 07-21-2014, 08:00 PM   #10
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Newmar14...Yes, we got a policy with this rig. If the first few months is any indication (which it probably isn't) the policy will see some use. I'll get back on the EW cos. name. Paperwork is in the rig and I'm not at present.
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Old 07-21-2014, 08:23 PM   #11
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To the original poster I would say if you have kept good maintenance and feel good about the quality of the rig you are probably better off saving that money and keeping it for a future repair. When we bought our rig used it had no records and I am very glad we purchased an extended contract because we are already way ahead of our cost. It is insurance and who knows what the future holds.
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Old 07-21-2014, 09:33 PM   #12
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I would not be without one. I like the peace of mind that if I have an engine or transmission failure, that I would not have to take that out of pocket.

So far, the warranty has replaced a windshield wiper motor assembly ($420), door awning motor ($170), Onan expansion tank ($275), Lippert slide pump ($1,724), Awning repair and fabric ($425), Power cord reel ($780). Plus some taxes, supplies etc.

Paid $4,107 for 5 years, 50,000 miles. Purchased October 2012.

Paid out $3,598.17 to date.

I would love not to have another claim, but I'm only $508.83 from breaking even. Policy ends October 2017.
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Old 07-22-2014, 12:59 AM   #13
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Are Extended Service Agreements Worth It?

Its a simple bet. You have a seven year old coach, full of seven year old parts and appliances. What is the probability that over the next four years nothing will break? Does your coach have a Norcold fridge?

I paid about $4500 two years ago for four years comprehensive on my then 10 y/o DS. To date, in three claims they have replaced my rear a/c, engine mounted a/c compressor, and air compressor governor. Total payout, about $4400.

Good Luck!
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Old 07-22-2014, 08:54 AM   #14
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We bought one for our 06 LaPalma. It just takes that one big repair to make you glad you have it. We'll probably have this coach for many years and I forsee stuff breaking. It's the nature of the beast. I just found out our transfer switch needs replacing.

Would we be better off saving that money and using it when we need it? - maybe, but it would be tempting to use that money for other "emergencies" if/when they come up.

Just my way of looking at it. Like an insurance policy.
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