TT - ESP's & GAP???

[jbenoit28]

I've been searching threads about ESP's on Travel Trailers and also GAP insurance. Some of the info is older and also much seems to be on MH's. Since this is the first trailer we've ever bought and it's new we are looking into both ESP's and GAP. I know there is much for and against buying either of these, but if we were to buy them, are there any brands to watch out for? Any brand outshine the rest? We were offered Good Sam by our dealer but declined until we had time to research this more. GAP is pretty easy to understand and I'm getting a quote from my Trailer Insurance company on that. The ESP is hard for me to weigh the Pro's and Con's on since I have no idea what repairs might cost and what are the things that might be the biggest repair items to watch. My truck was easy to figure out and I'm ahead of the game on that ESP purchase. The TT is all new to me. Any advice would be helpful.

Joe

[Clubhouse]

I don't have an opinion on ESP but don't buy GAP...it is very expensive and can be achieved basically for free with TT liability insurance.

We recently purchased our first TT and I investigated this extensively. Generally people say you get your TT coverage from your auto policy. True, you can, but this only offers liability while hitched to the TV. I wanted liability coverage while in storage or while camping for the unthinkable. To get this I was able to purchase a TT stand alone policy with "vacation liability" for approx $200/yr vs an addendum to my auto policy for $160/yr. The GAP coverage is achieved because for a castrophic event resulting in the TT being "totaled" during the first 5 model years my trailer will be replaced with a like unit at the current model year, after that it is agreed value. My TT is a 2012, so through modl year 2017, ill get the latest and greatest as a replacement. Ask yourself, after 5 years will you still have a GAP that needs covering?

Contact your agent and check prices...my policy carrier is Allied. The dealer quoted me over $1k for 8 yr GAP coverage. Not worth it IMHO.

[wingnut60]

GAP insurance can be a real good deal, or very expensive if purchased from the wrong source. Be careful of finance companies--best bet is to get the loan from a credit union. Just check around and compare prices.
ESPs are also a gamble--you have good warranty coverage already if you bought new for 1-2 years. If used, the Good Sam is pretty reliable and accepted around the country. No matter who you are thinking of getting it from, read ALL the fine print--be absolutely sure what is covered and is NOT covered, and what the procedure is to get a repair done and covered. Never get a repair done and ask for reimbursement--get it approved in writing at the repair shop you choose BEFORE having any work done. Lots of letters to Trailer Life about denied claims on extended warrantys.
Enjoy the new trailer.
Joe

[jbenoit28]

Great info. I'll check with my TT insurance carrier today and see how they cover me.

[jbenoit28]

$19/yr for GAP with my trailer insurance carrier. Done

[Clubhouse]

Curious, did you get a quote from the dealer? I just wonder if you received the same kind of outrageous prices my dealer quoted me.

$19/ year is a no brainer.

Enjoy the trailer.

[jbenoit28]

The dealer quoted me about $145/yr for 6 to 7 years. My Trailer insurance (Safeco) only does GAP for 5yrs. That should be enough I'd think. My agent reviewed the policy from Good Sam and Safeco and said they do the same thing. Seems like I'll be good sticking with my main insurance carrier. I haven't looked at Geico or Progressive mainly because I'm pretty happy with Safeco - Service and pricing is great.

Joe

[Clubhouse]

Thanks, Its nice to be able to share experiece and learn for these formus.

What are you doing about ESP? My trailer is a Jayco JayFlight w/ 2 yrs of factory warranty. At this time I have decided to go with out an additional ESP. Hopefully this isn't a mistake. :-) The prices I see from Good Sam and the others lead me to believe that I may be better off saving $ to cover issues on my own beyond 2yrs. Besides, what I can tell, none of the ESPs cover for roof and seal/caulking issues...that is my biggest concern.

[jbenoit28]

I'm just now getting into the ESP research but it's not looking great so far. I'm very proactive when it comes to maintenance so it will really have to be a great deal or a major issue that is covered for me to do it. I've heard that a leak can cost thousands to fix and that is a major concern but if the ESP doesn't deal with that then it's not going to be very cost effective. We looked at the Jayco but the small grey tank on the models we liked was the major deal killer. The 2yr warranty was a big plus though. We found the Keystone warranty is a little better than we expected when they gave us a copy of all the other things that are covered beyond a year. It's not bumper to bumper but there is a lot of items that will still be covered.

These Forums have been very helpful in all of our research and many very nice (some Grumpy, but nice) people give advice or tell of their experiences that help us decide what we will do given the available evidence. Thanks.

Joe

[Hitchpin]

Quote:

Originally Posted by jbenoit28 I've been searching threads about ESP's on Travel Trailers and also GAP insurance. Some of the info is older and also much seems to be on MH's. Since this is the first trailer we've ever bought and it's new we are looking into both ESP's and GAP. I know there is much for and against buying either of these, but if we were to buy them, are there any brands to watch out for? Any brand outshine the rest? We were offered Good Sam by our dealer but declined until we had time to research this more. GAP is pretty easy to understand and I'm getting a quote from my Trailer Insurance company on that. The ESP is hard for me to weigh the Pro's and Con's on since I have no idea what repairs might cost and what are the things that might be the biggest repair items to watch. My truck was easy to figure out and I'm ahead of the game on that ESP purchase. The TT is all new to me. Any advice would be helpful. Joe

This my sound dumb, but what is ESP's and GAP insurance?

[Clubhouse]

No dumb questions... If you don't ask you won't learn.

ESP - extended service plan
GAP - the difference between market value and outstading loan balance. We are buying cheap insurance to cover the GAP on the off chance somthing happens and our TT are totaled.

[GPW]

We just got the TT insurance through our auto policy/homeowners policy , and it did cover the repair of when a small limb punched 10 holes in my paper thin Jayco roof while sitting in the driveway (just out of warranty ) ... BTW, The dealer charged the insurance company 5000 USD to patch the roof ... Ridiculously expensive I thought ... Good thing I had insurance ...

[jbenoit28]

Hitchpin - I agree with the others. This forum has many patient and helpful people on it. Ask anything if you want to know.

One thing to add is that the GAP insurance is mainly for newer RV's or Vehicles where there is an actual gap between what you owe and what they say it's worth. Mine only lasts five years but they assume by then I won't be upside down on my loan.

I'm still looking into the ESP's. Not sure yet if I will do it or not.

Joe

[wingnut60]

As an example of pricing differentials on GAP insurance between finance companies and credit unions--I purchased an '07 350 dually and financed thru Ford, to get deal done smoother and a FMCC rebate. Knowing I would be upside-down bigtime soon as I drove it off the lot, I also had put in the GAP option in the loan. Soon as the paperwork went thru, I refinanced the truck through a CU I had been using for years. Both loans had GAP figured in--the one thru the Ford dealer was thru a separate finance company (I thought it was through Ford). After the re-finance was completed, I got a check from the separate finance company for $1700, and the cost through the CU was about $150 for same coverage.
I thought I was good at knowing the fine print, but got caught on this deal being anxious to get the deal done.
Joe