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Old 07-23-2012, 08:43 PM   #1
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Extended Warranty

Just purchase a Class A - Itasca Sunova and want to get thoughts on purchasing an extended warranty. We were offered one that had levels of service and costs that would cover the RV up to a period of 5 years. Cost was included for the life of the loan.

Are there companies other than Good Sam that offer extended warranties?
Thank you!
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Old 07-23-2012, 09:00 PM   #2
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Several other companies but fewer than there used to be as they went broke and took everyone's money, leaving many people with nothing but worthless paper.

Better to self insure by putting money in an account to pay for repairs. If you need the money it's there, if you don't need it it's still there.

Too many ways for the insurance company (not a "warranty" by law BTW) to back out of a claim. Miss an oil change, don't do maintenance on the refer, etc.

Not worth the money in my book. If the insurance company pays out more than they take in they go broke. Some people do get lucky and get back as much or more than they pay, but certainly fewer than buy in.
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Old 07-23-2012, 09:35 PM   #3
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As stated, it is not a warranty but rather an extended service contract.

Is the unit your purchased new or used? If new then you have everything covered for at least the first year and probably more on many of the items in the coach. The components in a new coach are covered by the individual manufacturers, generally for a year or so. I'm refering to the fridge, stove, etc. If the coach is used then most of the warranties have probably expired. Depending on age you may still have some original warranty coverage on the roof and chassis.

You can read hundreds of horror stories about just about all service contract companies failing to honor claims. Most of the time it is because the owner failed to specifically follow the pre-approval procedures for having an item repaired. Read the contract carefully, the procedures for filing a claim and getting repair approval are very specific.

If you choose to purchase or not to purchase an extended service contract is a matter of how risk tolerant you are. Most are purchased for "peace of mind". As stated above, some people end up on the plus side and finish money ahead due to one or more major problems that were covered under the contract. Most, however, spend more on the contract than was used to cover repairs during the life of the contract. That's why the insurance companies offer the contracts.

So your choices are to self insure or purchase a contract. If you do decide to purchase a contract make sure it is an "exclusionary" contract. That means that if the item is not specifically excluded in the contract, it is covered. These also generally have a deductible of about $100 for the repair. So, if the fridge goes out and needs to be replaced you only pay $100 for the new fridge - providing you followed the instructions for having the work done.

We just purchased our current coach a few months ago. In my case the dealer threw in a 5 year exclusionary contract through Conerstone. It's probably figured in to the price of the coach, but we still ended up with a bottom line we were pleased with.

Your decision to buy or not to buy is a personal choice. Be aware that these contracts are a tremendous profit center for the dealership. Don't be afraid to negotiate the price of the contract. Most contracts provide a 50% profit based on retail.The dealer's wholesale price on a $5000 contract should be about $2500. The dealer has lots of room to bargain. Also if you are purchasing a new coach, have them write the contract to begin AFTER the new vehicle warranty expires.
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Old 07-24-2012, 07:38 AM   #4
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Quote:
Originally Posted by Kazoo Tom View Post
As stated, it is not a warranty but rather an extended service contract.

Is the unit your purchased new or used? If new then you have everything covered for at least the first year and probably more on many of the items in the coach. The components in a new coach are covered by the individual manufacturers, generally for a year or so. I'm refering to the fridge, stove, etc. If the coach is used then most of the warranties have probably expired. Depending on age you may still have some original warranty coverage on the roof and chassis.

You can read hundreds of horror stories about just about all service contract companies failing to honor claims. Most of the time it is because the owner failed to specifically follow the pre-approval procedures for having an item repaired. Read the contract carefully, the procedures for filing a claim and getting repair approval are very specific.

If you choose to purchase or not to purchase an extended service contract is a matter of how risk tolerant you are. Most are purchased for "peace of mind". As stated above, some people end up on the plus side and finish money ahead due to one or more major problems that were covered under the contract. Most, however, spend more on the contract than was used to cover repairs during the life of the contract. That's why the insurance companies offer the contracts.

So your choices are to self insure or purchase a contract. If you do decide to purchase a contract make sure it is an "exclusionary" contract. That means that if the item is not specifically excluded in the contract, it is covered. These also generally have a deductible of about $100 for the repair. So, if the fridge goes out and needs to be replaced you only pay $100 for the new fridge - providing you followed the instructions for having the work done.

We just purchased our current coach a few months ago. In my case the dealer threw in a 5 year exclusionary contract through Conerstone. It's probably figured in to the price of the coach, but we still ended up with a bottom line we were pleased with.

Your decision to buy or not to buy is a personal choice. Be aware that these contracts are a tremendous profit center for the dealership. Don't be afraid to negotiate the price of the contract. Most contracts provide a 50% profit based on retail.The dealer's wholesale price on a $5000 contract should be about $2500. The dealer has lots of room to bargain. Also if you are purchasing a new coach, have them write the contract to begin AFTER the new vehicle warranty expires.
What he said. Read the contract. Self insuring is probably the most cost efficient way if you have the resources and the state of mind to do it. If you decide to buy a service contract follow the rules or do not expect coverage. Negotiate the cost. The fact that the warranty company and the dealer make a profit are of no concern. Your concern is to be a wise consumer.

Good luck with your decision.
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Old 07-25-2012, 06:59 PM   #5
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85% never make a claim or don't follow their maintenance schedule closely enough and are denied. And in an RV there are thousands of schedules it seems.

I use to manage a service dept. that sold service contracts. They were a profit center. That does not mean we didn't bend over backwards for our claimants, it's that only 10-15% had problems or would get around to calling for service. Many would just buy a new replacement...with another service contract. Go figure.
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Old 07-25-2012, 07:22 PM   #6
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Originally Posted by Jim_HiTek View Post
85% never make a claim or don't follow their maintenance schedule closely enough and are denied. And in an RV there are thousands of schedules it seems.

I use to manage a service dept. that sold service contracts. They were a profit center. That does not mean we didn't bend over backwards for our claimants, it's that only 10-15% had problems or would get around to calling for service. Many would just buy a new replacement...with another service contract. Go figure.
Some VERY GOOD thoughts above; most of these aren't worth the paper they're written on .... if you actually read the thing. Have a very good repair place here in the Medford (Oregon) area and did a 'sit down' with the owner.

An 'eye opener' to put it mildly. Ended up asking 'Do you have one?'

'Yes, your wallet, when you bring it in.' End game was he recommended one and 'Just do all the required maintenance so we can document;lf a 'war,' we're on your side.'

There was, they did, they paid.
fae
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Old 07-25-2012, 07:32 PM   #7
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I would not buy it - typically cheaper to be self-insured.

And if I did buy it I would not have it rolled into the purchase payments - why pay up front, and pay interest on something you can buy elsewhere and not pay up front nor have finance charges?

And you are locked in if the company does not perform...
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