Go Back   iRV2 Forums > MOTORHOME FORUMS > MH-General Discussions & Problems
Click Here to Login
Join iRV2 Today

Mission Statement: Supporting thoughtful exchange of knowledge, values and experience among RV enthusiasts.
Reply
  This discussion is proudly sponsored by:
Please support our sponsors and let them know you heard about their products on iRV2
 
Thread Tools Search this Thread Display Modes
 
Old 08-06-2010, 10:51 PM   #1
Member
 
motofamily's Avatar
 
Join Date: Jun 2010
Posts: 82
Should I Extend my Extended Warranty?

I know this is a real OPEN question but how many people here really believe in extended RV warranties? When we bought our Cross Country in August of 2005 (our RV is a 2006) we purchased a 5 year extended warranty and now 5 years is almost up and to renew this warranty they want $3700 for 5 years. Yes this doesn't sound like alot of money but it has been a tough 3 years for us and our original plan was to move up to a new unit in 5 years but with the economy we took some hits and it looks like we will have this coach for at least 3 more years. So now I am trying to figure out what to do about the extended warranty the coach is in great condition and we have about 25K miles on it.

Thanks for the advice/help....
__________________

__________________
motofamily is offline   Reply With Quote
Join the #1 RV Forum Today - It's Totally Free!

iRV2.com RV Community - Are you about to start a new improvement on your RV or need some help with some maintenance? Do you need advice on what products to buy? Or maybe you can give others some advice? No matter where you fit in you'll find that iRV2 is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with other RV owners, see fewer ads, upload photographs, create an RV blog, send private messages and so much, much more!

Old 08-07-2010, 03:22 AM   #2
Community Moderator
 
RV Wizard's Avatar


 
Country Coach Owners Club
Appalachian Campers
Gulf Streamers Club
Join Date: Mar 2000
Location: Chattanooga, Tn.
Posts: 12,062
I would suggest you put this $3700 dollars to the side in monthly payments as though you are buying the extended warranty; just in case you need it. If you will maintain the coach, it can be an every day thing, you will probably be fine by not renewing the warranty. It does not cover everything anyway. The bugs have been worked out and for most things if it were going to break, it would have done it by now. Good luck and enjoy!
__________________

__________________
Mike, RVIA & RVSA Certified Master RV Technician
Amy, Dr. Assistant - Roxie & Mei Ling, four legs each
2000 Gulf Stream Scenic Cruiser 450 hp & 1330# torque
06 Saturn Vue, 06 Chevy Z71 4x4 & 2014 Corvette Z51 M7
RV Wizard is offline   Reply With Quote
Old 08-07-2010, 04:35 AM   #3
Senior Member
 
Join Date: Oct 2000
Location: North East Indiana
Posts: 1,995
Put the same money in a CD or Credit Union. Don't give it some outfit who most likely will never pay your claim if you ever have one. You know your coach now, you have taken care of it. It is highly unlikely you will ever have a claim. I understand that only 5% of all extended warranties ever end up as a paid claim. The rest is just profit and wasted money.
__________________
Izzyblueye is offline   Reply With Quote
Old 08-07-2010, 05:25 AM   #4
Senior Member
 
deaton's Avatar


 
Monaco Owners Club
Newmar Owners Club
Texas Boomers Club
Spartan Chassis
Join Date: Jan 2010
Location: New Braunfels, Texas
Posts: 405
I get the feeling you pretty much understand the underlying dynamics of this game. And, of course, you know best your own financial situaition and your ability to absorb a hit if something major breaks. Also, you've had the coach for five years so you are in a better postiion than anybody to know it's strenghts and weaknesses and the likelihood of future problem. The mileage you report is fairly typical for a five year old coach for part-time users.

All that said, I'm not a big believer in the extended warranty even though, for the first time ever, I happen to own one at the moment. It's five years - just like yours - and I'm coming up at the end of the first year. I've had one claim. It was a hassle to get it resolved and when the dust settled and the smoke cleared I found that my $200 deductible had somehown ballooned into a $600 deductible after you consider all the stuff that isn't covered due to the fine print in the policy (diagnosis, replacement freon, that sort of stuff). I'm pretty certain that I won't renew mine and I'm considering cashing it right now and just salting the money away as sugested above. It's the old, "pay me now, pay me later" game.

Like all insurance, the ESP plan is a bet that your luck is going to be worse than the average. I think your chances of finding folks where this bet paid off is about the same as finding folks who HONESTLY got out of Vegas as winners. If the facts were anything else, there would be no ESP industry - they'd all be broke!

Spend the money on a good maintenance program and "sel-insure" if you can.
__________________
Dan & Linda
FMCA 399045 NKK 22240
2017 Dutch Star 4018 - Spartan K2
2013 Jeep Grand Cherokee 4x4
deaton is online now   Reply With Quote
Old 08-07-2010, 09:12 AM   #5
edj
Senior Member
 
edj's Avatar
 
Join Date: Jul 2010
Posts: 416
The ONLY time I would invest in an extended warranty would be if the RV is a real 'dog'. That is, it has seen a LOT of shop time for expensive repairs in the time you have owned it. Just curious though.... You say you already have an extended warranty that is expiring. How many claims have you made on that one? Have you come close to breaking even?
__________________
Ed J - Summer->Vestal, NY Winter->Melbourne, FL
1999 Dodge 2500 diesel, 6-spd manual
2007 HitchHiker Discover America 329RSB
edj is offline   Reply With Quote
Old 08-07-2010, 09:38 AM   #6
Senior Member
 
max49's Avatar
 
Damon Owners Club
Workhorse Chassis Owner
Join Date: May 2005
Location: Parker, CO
Posts: 3,102
I have the 7 yr, 75,000 mi ESP on mine. My rig is an '05 with 28,000 mi so I went 5 yrs and they paid out nothing. I never had a claim til a month ago. They paid $300 and I paid $50 to fix my jacks.
On 7-29-10 my engine came undone and I had to be towed 75 Mi. It's still in the shop and they have not started on it yet. I'm thinking this could be $10,000 ish.
I came close to canceling my ESP a few years ago but did not.
I don't know if they are going to give me a hassle about paying for this or not, but I really don't think they could be successful in turning down this claim. But of course, it is still stressful not knowing how this is all going to work out.
__________________
Max
2018 Gulf Stream Conquest 6238 on Ford E-350 Super Duty
Parker, Colorado
max49 is offline   Reply With Quote
Old 08-07-2010, 09:41 AM   #7
Moderator Emeritus
 
RickO's Avatar


 
Join Date: Jan 2007
Location: Litchfield Park, Arizona
Posts: 10,530
Always a tough call. I think some of the critisism of extended wtys above is much more negative than the experience I've had with mine. Hard to assess "break even" because part of the benefit of owning one is the peace of mind it brings. That's exactly why this is always such a "controversial" topic.

Good luck with your decision.
__________________
Rick, Nancy, Peanut & Lola our Westie Dogs & Bailey the Sheltie.

2007 Itasca Ellipse 40FD
RickO is offline   Reply With Quote
Old 08-07-2010, 09:43 AM   #8
Senior Member
 
Dmiles's Avatar
 
Appalachian Campers
Forest River Owners Club
Ford Super Duty Owner
Join Date: May 2009
Location: Suffolk, VA
Posts: 473
Quote:
Originally Posted by max49 View Post
I have the 7 yr, 75,000 mi ESP on mine. My rig is an '05 with 28,000 mi so I went 5 yrs and they paid out nothing. I never had a claim til a month ago. They paid $300 and I paid $50 to fix my jacks.
On 7-29-10 my engine came undone and I had to be towed 75 Mi. It's still in the shop and they have not started on it yet. I'm thinking this could be $10,000 ish.
I came close to canceling my ESP a few years ago but did not.
I don't know if they are going to give me a hassle about paying for this or not, but I really don't think they could be successful in turning down this claim. But of course, it is still stressful not knowing how this is all going to work out.
Best of luck to you Max. More folks than you know are reading your posts, watching for a good outcome. Hang in there, and keep us posted.
__________________
2011 Winnebago Vista 30W
Duane, Precy, 9 year old son Matt, and Abby, our American Eskimo.
Dmiles is offline   Reply With Quote
Old 08-08-2010, 06:36 AM   #9
Member
 
Join Date: Oct 2009
Posts: 58
My wife and I are facing the same question. We are taking delivery this week on a 2006 Monaco Knight. Fortunately, all the shop tickets were on file at the dealership. The coach has been in the shop approx. 15 times since newly delivered. Some items were minor new coach tweeks while other items included several visits for air conditioner problems, inverter problems, slide room adjustment, several visits for batteries going down and one trip to Cummins because the intercooler cracked and was replaced under warranty. The dealership offered us the Extraride 5yr/40k mile warranty with $200 ded. for $3700 and we are seriously considering it based on the coaches history. Don't get me wrong, it seems that everything is in good working order and is as nice as I could find in the price range I had so walking away from this coach is not an option. Any input would be appeciated.
__________________
Hedgehog is offline   Reply With Quote
Old 08-08-2010, 08:07 AM   #10
Community Administrator
 
Clifftall's Avatar


 
Fleetwood Owners Club
Ford Super Duty Owner
Join Date: Aug 2009
Posts: 29,113
Quote:
Originally Posted by motofamily View Post
I know this is a real OPEN question but how many people here really believe in extended RV warranties? When we bought our Cross Country in August of 2005 (our RV is a 2006) we purchased a 5 year extended warranty and now 5 years is almost up and to renew this warranty they want $3700 for 5 years. Yes this doesn't sound like alot of money but it has been a tough 3 years for us and our original plan was to move up to a new unit in 5 years but with the economy we took some hits and it looks like we will have this coach for at least 3 more years. So now I am trying to figure out what to do about the extended warranty the coach is in great condition and we have about 25K miles on it.

Thanks for the advice/help....
Pay me now or pay me later. I love that old Fram Oil Filter commercial.

I believe in insurance. Some say to start putting away a little each month. What happens if you blow an engine the first month?
Insurance is very expensive if you never need it, however it's real cheap if you do.

Your premium works out to about $2.00 a day. That sounds cheap to me.
__________________


Cliff,Tallulah and Buddy ( 1999-2012 )
Clifftall is offline   Reply With Quote
Old 08-08-2010, 08:20 AM   #11
Senior Member
 
SpursMVP's Avatar
 
Monaco Owners Club
Join Date: Jul 2010
Location: Ogallala, Nebraska
Posts: 374
Quote:
Originally Posted by clifftall View Post
Pay me now or pay me later. I love that old Fram Oil Filter commercial.

I believe in insurance. Some say to start putting away a little each month. What happens if you blow an engine the first month?
Insurance is very expensive if you never need it, however it's real cheap if you do.

Your premium works out to about $2.00 a day. That sounds cheap to me.
In our case we purchased an '01 HR that had no service records. The owners manual had some scribbling in it about the when/how/why of maintanance but no receipts. In our case we bought the Good Sams ESP and just renewed it for another year. Now that I can get the engine seals covered (they previously were not) I figure this is good for us. Keep in mind that we're still learning all the ins and outs of having a class A so the peace of mind is worth it.
__________________
2001 Holiday Rambler Endeavor
330 HP Cummins ISC
2007 Dodge Ram 4 X 4 (Hemi)
SpursMVP is offline   Reply With Quote
Old 08-08-2010, 09:30 AM   #12
Senior Member
 
Join Date: Aug 2006
Posts: 799
Ask the extended service plan for the percentage of premimuns they pay in claims. You may be surprised it is about 20% on average. The biggest expenses are sales commissions and administrative cost. Then subtract profit and there is not much money left to pay for repairs. Yes, some people with lemons may get most of their money back, but the average Joe gets very little back.

I have given seminars on RV repairs and I ask for comments on extended service plans. Most people don't buy them and the ones that do have horror stories. So much for buying for peace of mind - most have nightmares.

There are two of the latest comments. One guy had the interior light in his microwave short out and blow an internal fuse. He paid $150 to have it removed, the bulb and fuse replaced and the microwave reinstalled. The claim was denied because bulbs and fuses are not covered. Another guy had a refrigerator coolant leak and he told the insurance claims adjuster he wan't to replace his entire refrigerator with a new refrigerator. The adjuster said they would pay the amount of the coolant unit and labor and he would pay the rest. Camping World replaced the refrigerator and that was 1 1/2 years ago and he is still waiting to be paid. Every time he calls the extended service company they say they are still working on it.

These and other peoples' "peace of mind" have turned into "nightmares" and they said they wished they had never bought the plans.
__________________
Norm4015 is offline   Reply With Quote
Old 08-08-2010, 09:35 AM   #13
Moderator Emeritus
 
Gary RVRoamer's Avatar


 
Join Date: Jan 2000
Location: Silver Springs, FL. USA
Posts: 18,066
We bought a $3200 5 yr/70k mile policy on our 2004 coach when we bought it used in late 2006. So far have "recovered" about $2800 in a variety of miscellaneous failures, so it looks as though we will "break even" in the coming year. Have had several electronic device failures, air suspension leaks and the dash a/c compressor replaced. I don't think more maintenance could have prevented a single one of those problems either.

Have had no difficulty getting paid for covered repairs, but there are a myriad of things that are not covered too. If you thought that an extended Warranty meant there would be zero payout from your wallet for repairs, you obviously didn't read the policy before buying.

Ours expires at the end of 2011 and I honestly don't know what I will do. I'm not a great believer in this sort of insurance, but the possibility of a major repair expense looms large with a diesel engine and complex motorhome systems.
__________________
Gary Brinck
Former owner of 2004 American Tradition
Home is in the Ocala Nat'l Forest near Ocala, FL
Summers in Black Mountain, NC
Gary RVRoamer is offline   Reply With Quote
Old 08-08-2010, 09:42 AM   #14
Moderator Emeritus
 
RickO's Avatar


 
Join Date: Jan 2007
Location: Litchfield Park, Arizona
Posts: 10,530
In the interest of being "fair and balanced", our plan has a $50 deductible per visit (not per item)... the plan has paid 5 claims so far and denied nothing... they have paid the dealer directly so I had no out of pocket expense... and one of the claims was $1700 when my Winegard ASC 2003 went belly up and no direct replacement was available. This went toward my new Slimline Travlr HD dish. So... not all extended wty stories are horror stories.

BTW, I'm surprised an insurance company would tell you what % of premiums they pay out in claims. That would sure seem to be company confidential information to me.
__________________

__________________
Rick, Nancy, Peanut & Lola our Westie Dogs & Bailey the Sheltie.

2007 Itasca Ellipse 40FD
RickO is offline   Reply With Quote
Reply



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Extended warranty/ rv loan TUCSONRAIL iRV2.com General Discussion 20 06-21-2010 06:58 PM
extended warranty gp44 MH-General Discussions & Problems 3 06-01-2010 10:03 PM
Radiator Replacement and Extended Warranty Service Insurance Birddog Pilot Alpine Coach Owner's Forum 7 07-23-2009 08:27 PM
Extended Warranty for Newmar Dutch Star RoySher Newmar Owner's Forum 4 05-14-2009 10:09 PM
Interstate Star Extended Warranty Blue Ribbon MH-General Discussions & Problems 0 03-16-2009 03:21 PM

» Virginia Campgrounds

Reviews provided by


Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -6. The time now is 09:13 PM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.