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Old 10-19-2014, 08:44 PM   #1
tpj
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Wholesale Warranties

We have a 40 foot 2004 Dutch Star Newmar, new to us. I got a quote from Wholesale Warranties for exclusionary Policy for 2 years from either Pro Teck or Portfolio company. I was also told they no longer have a consequential coverage as the policies they have now cover just about every thing, so need for consequential any more. Both Pro teck and Portfolio were suppose to be rated A or A+ by AM Best, but could not find them in their ratings (not found by their search engine) . The cost for either policy for a little over $4000.00 for 2 years. Has anyone dealt with WW recently? Does the cost seem to be high or about average? Need info and help about them. They seem to be about the best on the Market right now.
Thanks in advance.
TPJ (Theresa Prissy Joe)
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Old 10-19-2014, 08:47 PM   #2
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I have Pro Teck through WW. Very happy with them both. I *THINK* because of the age of your coach that the quote isn't probably too much out of line. To put some perspective, we got a 4 year policy for about $6K 2 years ago on our 2006 DSDP.
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Old 10-20-2014, 08:54 AM   #3
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It depends on your tolerance for risk but I'd put that $4k aside and self insure. Odds are you'll come out ahead.

That said, some will tell you how they've suffered failures and repair costs that far exceed the cost of the breakdown insurance policy. We all probably know of someone that won big at the casino too but there were many others that put in, got nothing or little out, that contributed to that jackpot and the businesses profits.

Catastrophic failures can happen to anyone, but the best defense against large repair bills is good maintenance.
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Old 10-20-2014, 02:43 PM   #4
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purchased WW Portfolio 4 years on 2010 coach recently. It was around $4200 which I thought reasonable since had quotes up to $12000. Have needed them twice so far in 10 months and no problems.
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Old 10-20-2014, 02:51 PM   #5
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It depends on your tolerance for risk but I'd put that $4k aside and self insure. Odds are you'll come out ahead.

That said, some will tell you how they've suffered failures and repair costs that far exceed the cost of the breakdown insurance policy. We all probably know of someone that won big at the casino too but there were many others that put in, got nothing or little out, that contributed to that jackpot and the businesses profits.

Catastrophic failures can happen to anyone, but the best defense against large repair bills is good maintenance.

I tend to agree with you Jmonroe. I can't tell you how many times I have been asked if I want to buy an extended warranty be it Best Buy, Walmart, Home Depot and the last 10 vehicles. No doubt, I am money ahead. Yes it is a gamble but you have to look at your odds and tolerance for risk. I have saved enough declining warranties to buy another older motorhome.


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Old 10-20-2014, 06:26 PM   #6
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I have an ESP with WW. I signed up this year in May for the Protrek plan with Diamond Coverage. My annual cost is about $1600+/-. Already had 2 small claims (alternator and rearview camera system) that paid for most of the year and have had no problems with getting paid. I was on the fence for quite a while... So far so good... And worth the peace of mind.

But I agree with the others... No substitute to good maintenance.
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Old 10-20-2014, 06:36 PM   #7
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They are not warranties. They are carefully worded insurance policies. Read the fine print. If I could get back all the insurance premiums paid over the last 50 years with accrued interest, I would be rich beyond my wildest dreams. Unfortunately, we have no choice when it comes to the DMVs, banks and mortgage companies requiring insurance. We are not required to insure every thing that we buy.

BTW, I am a certified all lines insurance adjuster.
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Old 10-20-2014, 09:44 PM   #8
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Wholesale Warranties

Quote:
Originally Posted by tpj View Post
We have a 40 foot 2004 Dutch Star Newmar, new to us. I got a quote from Wholesale Warranties for exclusionary Policy for 2 years from either Pro Teck or Portfolio company. I was also told they no longer have a consequential coverage as the policies they have now cover just about every thing, so need for consequential any more. Both Pro teck and Portfolio were suppose to be rated A or A+ by AM Best, but could not find them in their ratings (not found by their search engine) . The cost for either policy for a little over $4000.00 for 2 years. Has anyone dealt with WW recently? Does the cost seem to be high or about average?.......)

1) You have a ten year old DS, and WW is pricing at a bit over $2000 per year. Two years ago I bought a 4 year WW service contract for our [then] ten year old DS, and the pricing was a bit over $1100 per year. And my contract includes Consequential Damage. I would say yes, their pricing has gone up.

2) the notion that they no longer offer Consequential Damage because they now cover everything is, I think, ludicrous. But I may be wrong.

Does your contract routinely cover fluids and belts? Mine does not. About 15 months ago my engine mounted dash A/C compressor seized. The failure contaminated all the refrigerant and burned through the serpentine belt. My service contract covered the entire repair, including new refrigerant and new belt and the associated labor under Consequential Damage.

3) in order to find an AM Best rating, you must first find the name of the insurance carrier that is underwriting your service contract. The name of the Underwriter and the Administrator should be included in a paragraph within the wording of your contract.
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Old 10-20-2014, 11:59 PM   #9
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I recently got a quote from WW for an exclusionary policy on a 2005 Beaver Monterey. I was quoted $3920 for two years and $6280 for four years. This is with First Extended Service, which is back by Virginia Surety Co, rated AM Best A- in 2013.

As for belts and fluids, it says as not covered "Refrigerant, coolant, and fluids UNLESS required for a covered repair." (my emphasis) So in the case a seized compressor (a covered item), the replacement refrigerant would also be covered. This policy also covers seals and gaskets, which some don't. With that said, at the quoted price, I am leaning towards putting the money in the bank instead. The only thing that scares me is failure of the Hydro-Hot/AquaHot, which gets more likely with a coach this age, and the resulting $4k - $5k+ repair/replacement cost.
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Old 10-21-2014, 12:04 AM   #10
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We self insure, and am far ahead that way.
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Old 10-21-2014, 08:53 PM   #11
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Our 2004 Dutch Star has a lot of rust and we have already put in $6000 in pre-existing Conditions so far. We have had a radiator hose leak, Air Compressor leaking oil at gasket, Ball joints replaced. Can't take the chance. That was money put aside for our future at Full Timing.
My mistake, learned a very valuable lesson. LOOK VERY CLOSELY AT EVERY THING. I saw rust but figured I could take care of a little at a time.
Not in first 2 months of ownership. Bite the bullet, and continue on. S____.
D____. and other nice words to that effect.

On another subject.
I asked Southeast Financial for a quote. Anybody have any input about them. Their sample contract looked pretty good, but need to see original. They are (what they called) reviewing for evaluation and would get back to us.

I want to thank everyone for their help so far.

TPJ Theresa Prissy and Joe
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Old 10-21-2014, 09:24 PM   #12
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We self insure, and am far ahead that way.
Just to represent the flip side...

WW policy $6000, 4 years, $200 deductible per claim. A claim can have multiple items and all items covered by deductible.

Claims paid out in 1.75 years = $8500 - $800 in deductibles means net pay out is $7700. I'm $1700 ahead already with over 2 years to go.

Clearly...YMMV!
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Old 10-21-2014, 10:12 PM   #13
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Quote:
Originally Posted by Sky_Boss View Post
Just to represent the flip side...

WW policy $6000, 4 years, $200 deductible per claim. A claim can have multiple items and all items covered by deductible.

Claims paid out in 1.75 years = $8500 - $800 in deductibles means net pay out is $7700. I'm $1700 ahead already with over 2 years to go.

Clearly...YMMV!
I went ahead in year 1 and am maybe 400 behind going into year 3. When you pay to offload risk you have to assume you may not have a claim. In that case the money was put up and gone. I have no idea why grown people debate this. It's a choice - if you have more money than you will possibly ever need, "self insure" but your "pool" is 1 person - 100% of cost when borne will be on you. Actual insurance is pooled risk - whereby some gain nothing - some much and some a little. Simple as that. Regular Joe's with modest money are usually wise to try to offload some risk. But it in the end - it's a just antother choice.

Don - I wish I had your policy - and may give em a call. I am 1/4 ly GS ESP and while they have treated me right - and my price was locked in for 6 years - I may think about moving when we get full time next month.
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Old 10-22-2014, 06:07 AM   #14
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I went ahead in year 1 and am maybe 400 behind going into year 3. When you pay to offload risk you have to assume you may not have a claim. In that case the money was put up and gone. I have no idea why grown people debate this. It's a choice - if you have more money than you will possibly ever need, "self insure" but your "pool" is 1 person - 100% of cost when borne will be on you. Actual insurance is pooled risk - whereby some gain nothing - some much and some a little. Simple as that. Regular Joe's with modest money are usually wise to try to offload some risk. But it in the end - it's a just antother choice.

Don - I wish I had your policy - and may give em a call. I am 1/4 ly GS ESP and while they have treated me right - and my price was locked in for 6 years - I may think about moving when we get full time next month.

Flaggship1, grown people debate this here as the OP was looking for opinions. My opinion of 'insurance policies' are they a means of great income for the people selling them as that is why they do it. To make money. My last experience with an 'insurance policy' was with GM. I installed a new motor with a 50,000 mile warranty (their words, not mine). A valve went out of it so I took it in for the 'warranty work'. All the dealers had excuses why they couldn't fix it. After finally talking to GM in Detroit they found a dealer some distance away that agreed to fix it. Now the fine print I didn't catch. I had to pay for the ancillary items, which really means I paid for everything to get to the valve and get it back together and they paid for the $25.00 valve. Cost me just short of $800 for GM to 'warrant' the valve. What's worse is I didn't even pay for that warranty, it was supposed to be included. Had I known GM was so desperate for cash I would have gone to a local mechanic I know and got it done for $300 or so. That is only one of my experiences with 'insurance policy' of this nature. There have been more and there was always a reason they couldn't fully cover the defective item. I don't have more money than I know what to do with but I have enough to take care of any situation that arises in any vehicle I own down to replacement. It doesn't take too many $3,000 to $6,000 dollar policies dropped into a fund to add up to real money. Yes it is a risk but not much if you have done your homework and maintenance. GM products will never be in my garage because of that shenanigan.


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