Community Forums

arowleymd · 10-08-2012, 07:52 PM

What extended warranty seems worth the investment? Sick of denied coverage through clever semantics of policy interpretation!

Scooter · 10-08-2012, 08:46 PM

I would say the one (called Exclusionary) that has non-covered items stated clearly. Anything not listed is covered.

Consequential damage option can alleviate a lot of confusion.

Mr_D · 10-08-2012, 09:00 PM

Quote:

Originally Posted by arowleymd

What extended warranty seems worth the investment? Sick of denied coverage through clever semantics of policy interpretation!

Well, first off they're not warranties by law, no matter what they are labeled. They are contracts and subject to contract law, plus they are written by lawyers for lawyers to make money for the issuing company. They are not your friend, no matter what the seller says. Also, the seller usually gets a 50% cut of the price.
We don't buy them anymore, just not worth the cost, although a few people do come out ahead most lose the bet.

hit the road · 10-13-2012, 11:05 AM

hi we just got cornerstone, the platinum plan, it is expensive, but we have had so many claims already in the 6 months we have this unit and they paid for everything. our rv tech likes them so much he is recommending them to his clients.

bmacrc46 · 10-13-2012, 11:15 AM

Quote:

Originally Posted by arowleymd

What extended warranty seems worth the investment? Sick of denied coverage through clever semantics of policy interpretation!

The short answer is no. Countless individuals have bought policies on many different products only to find out that the problem they encounter is not covered or extremely difficult to get covered. The odds are you will never recoup the initial cost.

If money used to pay for extended warranties was put aside to pay for issues as they arise at the end of 10 or 20 year period you will be much better off.

The extended warranties are a fantastic money producer for the companies and sales people that sell them and there is a very good reason they always try to push them.

Gary RVRoamer · 10-13-2012, 11:53 AM

You have to stop thinking of them as warranties or you will never be satisfied. They are insurance contracts for certain repair items, with very specific rules and limited coverage. If you thought they were going to pay for all your repairs, you didn't read the contract.

Insurance isn't an investment either.

If you still want to nuy insurance for major or excessive repairs costs, you want any exclusionary type of policy, as scooter described. And if you can get one that covers consequential damages (I've never seen one) at a reasonable cost, that would be a big plus too.

The Cornerstone service plan is one of the better I've seen, but I don't have one myself. My RV Shield plan expired last November and I was satisfied with it for 5 years of claims, but decided not to get another one. I'm "self-insuring" now, and hoping I don't get one of the $5000+ repair bills.

rvbunz · 10-19-2012, 09:59 AM

I went through Wholesale Warranty and purchased a plan from Brittany. It has a collateral damage clause that allows non covered items damaged by a covered item to be repaired. I just used it also and had a non covered item repaired with the covered item. Give her a call at 1-800-658-0530. Check it out. I also got a seven year tire plan at no extra charge.

UFO Pilot · 10-19-2012, 10:13 AM

I have had Interstate Star for 5 years and they have been great so far. I have used it 7 times and just got repair #8 approved. I have repairs totaling twice what I paid for the policy so I guess I am one of the "lucky" ones. The "secret" to success with these policies seems to be the repair facility you work with and ALWAYS get the work approved before it starts. Some places don't like the extra work of getting approval so they don't try very hard or don't try at all and tell you that they did and the claim was denied.

Dunner · 10-19-2012, 04:47 PM

My first and only claim with Phoenix American was for and engine, AC compressor, speedo cluster and fuel Pump. Aside from being slow to approve it, they covered everything but a new dryer and expansion valve. The claim was for over $10K, more than double what I paid for the 4/48 policy.

RickO · 10-19-2012, 04:56 PM

Hi and welcome to the forum.

If you use our search feature you'll find a week's worth of reading material on this topic.

We've had our EZCare policy for six years and they've never denied a claim... all the shops I've dealt with love to work with them... I've never even had to speak with anyone at EZCare or pay up front and wait for reimbursement because the shops like them and know they'll get paid.

As Gary said, one will almost never be satisfied if they think of these as warranties and/or investments. Of course the companies and salespeople make money on them and they are high margin items... but that makes them negotiable too.

I my case I bought it for peace of mind and it's done it's job... but I doubt I'll renew when it expires next year. Not sure yet.

Good luck.

Rick