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Old 08-04-2011, 01:24 PM   #1
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Extended service policy

Probably a subject of much chat here before I joined site but I will ask anyway. What are normal prices of service policies for a MH such a 2006 DP with a wholesale value of $132K? Anyone use XtraRide. Is $4K for 3-year policy the norm with an option to make it a four year for an $1000. Surprisingly option for fifth year is a big jump of $3000 making a 5-year ploicy $8K. The 4-year looks attractive but, wow, what a junp for year five.

Bill aka buck454

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Old 08-04-2011, 01:46 PM   #2
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Put the money in a savings account, if you need it you have it, if you don't need it you still have it!!
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Old 08-04-2011, 03:38 PM   #3
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Quote:
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Put the money in a savings account, if you need it you have it, if you don't need it you still have it!!
I agree... Only the few people who have bought real "lemons" will come out ahead paying for a service contract with the insurance company. Most people who put the amount they would have paid for a policy in a bank account will come out ahead. Just use the money in the account to pay for any repairs that would have been covered. Take out what is needed less the deductible. There is so much fine print in the policies that the insurance company often finds a way not to pay.
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Old 08-04-2011, 09:58 PM   #4
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Those prices sound like the right ball park. I paid $5000 for a 5 year, 70k mile policy on my 2004 coach in late 2006. I guess Imust havebought a lemon, cause we crossed over intothe black this year, having collected more than we paid in premiums. Most, however, will not. Remember, it's insurance, so you buy it an hope you don't need it.

The price will vary with the coverage, deductibles, etc., so it's hard to make specific comparisons.
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Old 08-04-2011, 10:39 PM   #5
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Most, however, will not. Remember, it's insurance, so you buy it an hope you don't need it.

The price will vary with the coverage, deductibles, etc., so it's hard to make specific comparisons.
Yep, if they all paid out as much or more than they collected they'd be out of business and a lot of them are, leaving the paid up "policyholders" holding the bag. Worse for those that financed the policy, they still have to pay for it and interest but will get nothing.
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Old 08-04-2011, 10:58 PM   #6
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Purchased my 05 Itasca Feb 2011 WITH extended service plan which cost $4050.00 !

Apr 2011, with 10, 125 miles the engine suffered catastrophic main bearing failures !

Had I followed the "Bank the money" philosophy I would have been out over $14,000 rather than the $2500 that I ended up paying !

My "job" took 14 weeks because of an infantile moron of a Truck Shop manager and an equally mentally challenged "administrator group" for the ESP !

Will let the lawyers deal with the minutia of it all. I have my MH back, DW and I are on the road again and loving every minute the man above allows !

I do NOT suffer from mental Illness, but rather enjoy it on a daily basis !
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Old 08-04-2011, 11:04 PM   #7
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Unfortunately, you gamble twice when purchasing an extended warranty for an RV. The first roll of the dice occurs when you pay a premium for an insurance policy that may never be needed. The second roll of the dice occurs when your RV breaks down and you hope and pray that the needed repairs are covered. For most folks, this is too much uncertainty for the price.

As a practical matter, there's only one repair that can truly break the bank: a blown engine. If you change your oil and filter as recommended and use synthetic oil, you are minimizing the likelihood of this occurring. If there weren't so many "out" clauses in these policies, I'd consider using them. But in the real world of insurance, its still all about the three D's (Delay, Deny, and Defend). Like the others have said, put the money in a savings account and you'll be prepared for almost anything.

Jack
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Old 08-04-2011, 11:17 PM   #8
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When I bought my policy my thought was to keep the policy for a year then cancel and get a refund. I figured by a year I'd have a real good feel for the RV and it's dependablity. My policy paid for itself the first year so I'll probably keep it.
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Old 08-05-2011, 09:26 PM   #9
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Diesel engines have a lot of expensive components than can readily break most anybody's bank. E.g. turbos, injector pumps, the injectors themselves, charge air cooler, even a radiator can be a killer. And outside of engines, many people would find that a new fridge or a major generator repair would do it too - either can easily run to a couple thousand bucks.

We all have a different bank accounts and a different threshold of pain.
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Old 08-05-2011, 09:38 PM   #10
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I have never been a lucky person who bought a lemon with an ESP. There are a few lucky ones out there. I figure if I can afford an expensive motorhome I can also afford to repair any failures. I would hate to spend all my money on a motorhome and not be able to pay for repairs.

If I can afford a $200K motorhome I will only spend $190K on a motorhome and put the other $10K in the bank for any needed repairs. I have done this the last 22 years and I am money ahead.
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