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Old 11-05-2012, 08:43 PM   #29
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Quote:
Originally Posted by RickO View Post
IMO, that's a very difficult blanket statement to make with any sort of certainty.

Rick
Last I checked... warranty companies were in business to make $$$$ and not for the benevolence & comfort of those not comfortable with mechanics.

No normal person spends $6,000 on something they hope "not" to use. The reality is you buy it to "hedge" your bet.
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Old 11-05-2012, 10:43 PM   #30
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I used to be of the opinion Extended Service Contracts were something to avoid. I have since changed my mind, even though I still think they are inadvisable for towables. We have been contemplating trading our 5er in on a motorhome, and I've been doing homework.
A towable doesn't have all that much to fail, but a MH is a very complex machine, both coach and chassis. This has caused me to reach the conclusion that an extended service contract is rather like buying cancer insurance. You hopefully never need to file a claim, but you have peace of mind that a calamity will not destroy your family financially. Will it be profitable? Likely not, but then again, you are insuring a depreciating asset ( the RV), that will develop more mechanical issues as it ages. When/if we purchase a MH, we will also purchase an ESC.
That's DW and my opinion FWIW.
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Old 11-05-2012, 10:59 PM   #31
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We've saved thousands of $ over the years by not buying service policies.
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Old 11-06-2012, 06:01 AM   #32
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Quote:
Originally Posted by Ray,IN View Post
I used to be of the opinion Extended Service Contracts were something to avoid. I have since changed my mind, even though I still think they are inadvisable for towables. We have been contemplating trading our 5er in on a motorhome, and I've been doing homework.
A towable doesn't have all that much to fail, but a MH is a very complex machine, both coach and chassis. This has caused me to reach the conclusion that an extended service contract is rather like buying cancer insurance. You hopefully never need to file a claim, but you have peace of mind that a calamity will not destroy your family financially. Will it be profitable? Likely not, but then again, you are insuring a depreciating asset ( the RV), that will develop more mechanical issues as it ages. When/if we purchase a MH, we will also purchase an ESC.
That's DW and my opinion FWIW.

There are lots of items that are "complex" and similar plans to insure they work. A daily example is a cell phone. Companies charge $8/month for insurance. Over a year period its close to $100. Over a contract life of 2yrs... its nearly $200, almost the cost of the device and more than likely after a few months you are insuring an obsolete item.
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Old 11-06-2012, 02:47 PM   #33
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I got to use my phone insurance after 3 days once... accidently when into a bonfire
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Old 11-06-2012, 03:51 PM   #34
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Replacement cost of new iPhone while under contract around $650.
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Old 11-06-2012, 04:48 PM   #35
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I think it's a roll of the dice either way. We did buy the GS extended plan when we purchased our "new to us" Journey last year. The thought of something happening to the engine or transmission concerned us. In the first three months they replaced a rear jack and a slide cylinder for the bedroom slide, total out of pocket $50.00. We bought the policy from the Dealer, so probably paid too much, but we didn't know about IRV2 then! I do hope we never have to use it again, and if we do I hope it continues to pay like it has. We do sleep better at night!
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Old 11-06-2012, 07:24 PM   #36
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I believe in extended warranties for Motorhomes. Wouldn't bother with a fifth wheel or trailer. My warranty was approx 3000. I would not pay 6000.
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Old 11-07-2012, 07:00 PM   #37
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I am headed up to pick up our motor home in the morning after the transmission failed. I have to pay 200 bucks and the rest the warranty pays. Our policy has been very good for us.

If you have extended warranty from a good supplier, in our case XtraRide, things that break are not an expense of any size. So up to you. Do you like Vegas? If yes no warranty is fine.
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Old 11-07-2012, 10:25 PM   #38
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I used my ESP one time for a $350 ($50 deductible ) jack repair. They held up the repair. They told the shop my jacks were'nt covered. I had to make calls and jump through the hoops and they called the shop and told them it would be covered. No work was done until the shop was guaranteed payment by some body.
I was and still not a big fan of ESPs.
Then, after 5 1/2 years of the 7 year contract my crankshaft in my gas engine broke in 3 pieces. OMG, what a nightmare fighting with the ESP and the shop too. All service records since new were demanded and sent twice, they came and inspected the MH, I wrote many letters and received many replies from the BBB in CO and NY and also the Div. of Insurance in both states; and in 2 months they agreed to pay $12,600 for the new engine which left me to pay $1400 when I had a $50 deductible. I was tired of fighting and waiting for my MH by then.
They helped financially when I had a major problem but it was a huge hassle.
Would I buy another on a new MH? I'm not sure.
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Old 11-07-2012, 10:53 PM   #39
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Max, What was the name of the company that gave you such a hassle?
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Old 11-08-2012, 07:20 AM   #40
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Old 11-08-2012, 08:03 AM   #41
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Max - you didn't give us an idea of what the 7 year plan cost at the time but if I did my math correctly they paid out $11,450 after deductible and uncovered items. The difference between what you paid for the coverage and what they covered would seem to me to be the hassle factor premium to you (or anyone). If it was $10 I wouldn't think that to be a good deal - but if it's several thousand it's sounding better.

As I've said - I have one but fear the long drawn out battle for coverage - but if they pay in the end - the hassle could still be worth it. When I signed up I did agree to keep to maintenance current and provide receipts and records if asked. But I didn't agree to spend days on end fighting with them over coverage.
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Old 11-08-2012, 08:27 AM   #42
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Here's the deal......if the company selling the insurance doesn't make money there out of business, so the odds are it's not worth it, and they know how to figure the odds very well. On the other hand if you bought a POS and it's going to crap out often, than here is your chance to "Stick It To The Man"
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