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Old 07-31-2013, 11:38 PM   #15
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Or they use it against you!
Case in point: Owner had a transmission fail, insurance co requested maintenance records. They determined the engine oil wasn't changed till 750 miles past recommended mileage. Result was that they denied ALL coverage. The company did refund the owners payment for the so called coverage and that was it.
Hence the reason for my first sentence.
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Old 07-31-2013, 11:38 PM   #16
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My fuel pump went weak and broke a piston. My dash AC had a slight leak and the speedo jumped to 40 as soon as I started moving. Total claim was for >$10k. 4 year warranty cost $4500. I win.
The insurance company writes the polices to make them a profit. If they didn't the company wouldn't be in business long.

We didn't buy one on this rig. The savings paid for all the maintenance and new tires so far.
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Old 08-01-2013, 03:51 PM   #17
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I really wish all self insurers the best of luck. Everyone buys different kinds of insurance. I chose not to buy long term care insurance as do many others. I never bought home security monitoring either. Priorities are different for everyone.
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Old 08-01-2013, 04:38 PM   #18
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There is insurance you buy, and insurance you can make.

I had an EW on my first coach. $4000. $1500 in covered claims. So, I lost.

But that is how EW companies make profits. Sometimes you win, usually you dont.

I self insure now. In 1995 I put away $175 per month, and it gained in value and continues to. Have not contributed since 2005.

I had good luck, no big repair costs. The fund is now enough for any cost, including a cruise per year, says DW.

I choose who works on my rig. And I never deny myself a claim.

But I do have RSA

Just sayin....
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Old 08-01-2013, 04:50 PM   #19
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^^^ Dave, you forgot to say Jinx.
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Old 08-02-2013, 08:33 AM   #20
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If You read the EXCLUSIONS these Companies offer, YOU WILL NOT BUY!!!! an Extended warranty,
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Old 08-02-2013, 09:46 AM   #21
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If You read the EXCLUSIONS these Companies offer, YOU WILL NOT BUY!!!! an Extended warranty,
That's a pretty broad statement.

We read the exclusions on our Easy Care policy and still bought.

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Old 08-02-2013, 10:22 AM   #22
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Bought my first car 60 years ago. Since then many cars, RVs, boats, etc. bought without extended warranties (service contracts). I'm tens of thousands $$$ ahead. As repeated many times before, service contract companies are in business for profit. Some service contract holders will be winners, most will not, as it's a zero sum game, you roll the dice.
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Old 08-02-2013, 11:57 AM   #23
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Bought my first car 60 years ago. Since then many cars, RVs, boats, etc. bought without extended warranties (service contracts). I'm tens of thousands $$$ ahead. As repeated many times before, service contract companies are in business for profit. Some service contract holders will be winners, most will not, as it's a zero sum game, you roll the dice.
If it were a zero sum game, the winners would equal the losers. And the winners in this case can exceed the losers in numbers but not in aggregate dollars else the profit and company are gone. Like any form of insurance, it's a personal choice and often a bad bet. Many have had successful contract outcomes, many others have not.
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Old 08-02-2013, 12:38 PM   #24
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My husband refuses to pay for extended warranties. In only once case in 25 years would it have paid off. But we still would have spent more for the extended warranties than the work needed.
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Old 08-02-2013, 02:29 PM   #25
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If it were a zero sum game, the winners would equal the losers. And the winners in this case can exceed the losers in numbers but not in aggregate dollars else the profit and company are gone. Like any form of insurance, it's a personal choice and often a bad bet. Many have had successful contract outcomes, many others have not.
Well said and my thoughts exactly.

It's funny how many folks look at these as "investments" or "wagers" in which they have to either win or lose... rather than the insurance policies they actually are.

I don't hear folks complaining that their home insurer makes a profit, or that they've wasted money by paying for car insurance because they have yet to have an accident.

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Old 08-02-2013, 02:43 PM   #26
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I never even thought about it being a wager or bet till I came onto RV forums.
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Old 08-02-2013, 02:52 PM   #27
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Yup. The ins co is betting that you may not have a loss and you're betting that you may. It's very expensive if you never use it and its very cheap if you do. Large #'s of homogeneous groups is what makes it economically feasible for both.
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Old 08-03-2013, 10:23 PM   #28
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I pay hundreds in insurance for auto and hope not to use it, hundreds in house insurance and hope not to use it, hundreds in medical insurance and hope not to use it, hundreds in life insurance really hope not to use it. So yes I pay for extended insurance on my rv.
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