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Old 04-24-2016, 10:16 PM   #1
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Extended Warranties - Worth It?

Dear Folks:

I have already made several posts on here asking questions about my wife's and my purchase of a 2015 Fleetwood Bounder Classic 34B (brand new - it was sitting on the dealer's lot and they wanted to get rid of it). I really appreciate the help. We've owned a popup and travel trailer, and this is our first (and likely last, given our age) foray into owning a large motor coach.

My question is whether you think an extended warranty is worth it. I have quotes from the dealer and from Wholesale Warranties. Needless to say, the latter is cheaper, but the contract requires a defect to fall into certain defined problems, rather than excludes issues (I believe the latter are more favorable to the consumer). I've asked the dealer for a sample copy of their extended warranty contract. The Fleetwood warranty is 12 mos., and the Ford Chassis warranty is 36 mos. My quotes are for 60 and 72 months.

What do people think about the value of these extended warranties?

Thanks for any help you can give me.

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Old 04-24-2016, 10:28 PM   #2
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Only if you use it! Lots of people buy them and never used them, others buy them and are disillusioned when the claims are denied. Others are very happy when they get more back than they paid. Lots of opinions out there

In our case the contract arrived after the engine blew so it was too late for us.

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Old 04-24-2016, 10:44 PM   #3
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We bought one when we bought ours. For me it was for peace of mind knowing that the MH is covered for 7 years, and the chassis power train for 5 years thru the Ford original warranty. So for at least the first 5 years we should have no major expenses. Ours has a $100 deductible and covers everything as the original warranties expire, as some components of the MH are covered for multiple years. The bottom line for us is that if we never have to use it all the better. I don't see it as a waste of money, as one thing going wrong after the original warranty expires could easily cover the original cost of the warranty. It's a gamble, but I will do that for the peace of mind.
Mike & Charlotte
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Old 04-25-2016, 04:44 AM   #4
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Well to be technical, it's not an extended warranty it's a service plan that can vary in coverage. Essentially it's an insurance plan with a deductible to protect you from component failure. When I bought the current coach, a 2007 Itasca Horizon last summer, I got a 2 year with $50 deductible and so far have used about $1000 worth of coverages for repairs. It's peace of mind and if I never used another $$ of it that would be fine. In fact I hope I never have to use it again, but it's there if I need it.

Whether it's worth it depends on your threshold of pain when paying for a repair. Some people self insure and if you have the resources and are comfortable accepting the risk then go for it.
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Old 04-25-2016, 05:51 AM   #5
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I wouldn't get one until the manufacturers warranty has expired. Then I'd go with wholesale warranties. We never had a problem with them in 6yrs. of fulltiming.
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Old 04-25-2016, 06:10 AM   #6
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" Extended Warranties - Worth It? "

In general they can't be worth it. The company is banking on it!
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Old 04-25-2016, 06:30 AM   #7
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Personally I do not feel the cost is worth the benefit provided but I am not full timing, the coach is parked in my driveway and I can probably fix anything but a transmission or engine overhaul. If anyone of these three factors changed then I would look more closely at entering into a contract.

Piece of mind can be a very good thing but any contract you might be looking at will need to be reviewed very carefully to determine exclusions, limitations and requirements of both parties. Nothing worse than that feeling of hope slipping away when you find out that due to a $5 oil seal failure that caused extensive engine damage is not covered. Break a connecting rod and blow a hole in the engine block, no problem.
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Old 04-25-2016, 06:39 AM   #8
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I think they are worth it unless you are independently weathy. I have Good Sams ESP that I got when I purchased the coach through Camping World.
It is a bumper to bumper plan and covers most things other than normal wear and tear such as tires and brakes,etc.
I just used it as cooling unit went bad on my refrigerator. to install new was over $2000 and all it cost me was $50.00. Not bad huh.
I would read the contract before you buy it to make sure it covers everything.
Good Luck!
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Old 04-25-2016, 06:57 AM   #9
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Extended Warranties - Worth It?

Originally Posted by okcnewbie View Post
" Extended Warranties - Worth It? "

In general they can't be worth it. The company is banking on it!

okcnewbie is correct, in general the insurance companies that issue the policies make a boat load of money, however in some cases the purchaser is the winner. For me it has been worth it, I have gotten more from them then they got from me. There have been many postings here on IRV2 about Extended Warranties/Service Plans, do a search under both. I have an exclusionary policy with a $100 deductible, they cover everything except what is listed, I only pay $100 per claim. That claim can have 10 things listed but it only costs me $100 (which surprised me, I expected $100 per thing repaired, I did not read the policy before I purchased it). Do your research, ask your mechanic what company is best to work with. Shop around, read the policies and look at all including the Good Sam program then decide if it is worth it to you. RV repairs are not inexpensive, even the simple ones cost a lot. Insurance companies use this to scare you into purchasing their policies, however the bottom line is that it is true, RV repair is expensive, like owning a Mercedes, if you can afford the car, you can afford the repairs. Some people, like me, appreciate the peace of mind, others don't find it worth it. I find taking several hundred thousand dollars of stuff shaking and vibrating down the road in ways they were not designed for to be a bit scary. As I said, I am ahead on my policy, it has worked out to my advantage, you need to decide where your comfort zone is.

If you decide it is worth it to you, purchase the longest policy they will sell and if the policy is renewable (one thing to determine before you purchase the original policy) what will the cost be. The older a coach gets the more expensive a policy will be and the more likely you will need repairs. Lock in your costs while it is young, at that point the insurance company wants to get as much from you as they can so they are willing to spread their risk over a longer period expecting to make a profit in the long run. It is just like purchasing a car, you have the most negotiating advantage before you sign the contract.

Good luck!
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Old 04-25-2016, 07:31 AM   #10
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I have never been a big fan of extended warranties! I know some folks say they have paid off for them, but I bet if the facts were known that 90% of the people that have them do not recover their money!

You just have to look at them like insurance and decide if you want to take the chance!
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Old 04-25-2016, 08:30 AM   #11
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I have no idea what these things cost, but I bet if you put what they cost in the bank you would ahead in the long run. Insurance companies don't sell these things because they are nice guys and want to help RV owners!!!
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Old 04-25-2016, 08:54 AM   #12
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I know they have paid out more than I spent for the policy, so I know I am ahead.
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Old 04-25-2016, 09:29 AM   #13
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I'm typically NOT a fan of purchasing "extended warranties" for anything. However, I made an exception in the case of our coach. Having examined the potential costs of big ticket repairs and considering with my complete lack of expertise in performing repairs on the big ticket items - I opted to purchase an "extended warranty". At best (worst?) ... I'll never use it ... BUT, if I experience a big ticket failure, it could very well pay for itself in short order. I'm viewing it as something akin to homeowner's insurance. Yes, the contract is damn expensive ... but considering the cost of the asset - the annual fee is worth the peace of mind.
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Old 04-25-2016, 01:28 PM   #14
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As I noted in a similar post last week, first off they are not extended warranties they are pre paid service contracts.

They are also just like gambling in Las Vegas. These companies are not in business because thier customers get more back than they pay in, and they don't build zillion dollar casinos because people win more than they loose. They also both get customers based on the hype of a few (big) "winners" while the vast majority that lose money quietly hide in the corner.

Unlike Vegas, you are betting on your self to loose, not win, so the contract gives you a short list of what they pay for, and pages of legalese about what they don't pay for.

They are also a pita for everyone involved, you, the company doing the work that has to wait for approvals, fight with the provider, proably get paid less than the going rate for the work to be provided and be the messenger when the service company says "no pay", all of which proably means your RV goes to the end of the line, and the least skilled tech assigned.

And unlike a real warranty provided by a manufacturer, there is no good will or reputation at stake for the service provider.

All that said, when we were shopping for our MH, I simply plugged in $5000 additional into the cost of any used units to cover the possibility of actually getting a service contract. However, as we bought new, we did not feel it was necessary and did not get one.


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