Extended Service/Repair warranties

[Chipster123]

Greetings!

I am looking for input regarding “extended service / repair warranties “ or insurance. I’ve obtained a few quotes: Good Sam, National RV, & America’s RV Warranty.

I would greatly appreciate any experiences, recommendations, or the like. I don’t think any descriptive derogatory comments would be helpful - just “this company didn’t help me”, please, thank you.

My dealership offered me a coverage at $10K, but it was amortized over 5 years at 6%! No thank you.

Again,,, thank you in advance for the experience and comments.

[deckape]

Have one that is coming up for renewal, and don't think I will get it again . Bought it when we got our 2018 Forza as I didn't have a warrenty with Winnebago . Worked well for us in getting slides repaired several times , awning repaired twice , fireplace looked at , but I ended up repairing it after " part not avaliable " . We did get it because I didn't want have to have repairs out of pocket at the time . Paid about $10,000.00 for five years and repairs came to about $ 8,500.00 so far . So I guess it was worth it . Will now put $ 5,000.00 + in repair fund and pay out of that ,then add more if needed . Need to have a good repair shop and service rep when you need repairs . They will have to get the ok for said repair and if not in your corner ,that could take time as others are trying to get repairs also and might get ahead of you cause they bought it there . We made appointment , went in for a look , then made a appointment for repair as they got the ok to do it and get parts , then back for repair . Worked for us . Sometimes the repair can be ok'd while your in for that repair . Overall ,it's going to cost you money ,now ,warrenty or later out of pocket .

[dmctlc]

There's a lot of them out there and you need to remember they technically don't call them warranties but extended service plans. Not sure why since they repair or replace something that is broken but I guess that's a matter of opinion. I have them on my Class As and it's more a piece of mind that if there's a breakdown I can have it repaired with very little money out of my pocket. I have Portfolio on my last 2 Class A's and the current coach has been 4 xs for slide repairs as well as an awning replacement and a few other things within the first 18 months of ownership. They've never questioned me and repairs were done quickly so I'm happy. The thing to remember with these "service plans" is you need to get one that is exclusionary listing only the items that are not covered if you want a complete plan. Mine does that so I know what is covered. Also some of these have Caps or limits on how ,uch they'll pay off during the entire duration of the plan and seem even go how much they'll pay out in a year though they're rare. Another point is to assure that if you buy another RV you can cancel the plan and get a refund based on the months you've had it. You'll find folks that have good luck and bad luck with almost every plan out there. Pricing can also be a big difference between plans as well. Bargaining is something I'd do with any pricing on these plans but have in writing what is covered and what is not. Some issues I've heard of is people were stuck on a weekend couldn't get anyone for authorization because they weren't open paid to get something fixed only for to no receive reimbursement afterwards so check the authorization requirements if you are need of repair. Some companies are shell companies that go out for bid yearly and the plan can change on you so be careful. Don't forget most plans don't include road service or towing which can be very expensive so make sure you have roadside assistance like Coachnet. Anyway you'll get many folks that will hate them and others like them so in the end its the comfort that it provides you if you get one. I have no regrets so far. There's a few other post of this question being asked if you want to search for them. Thxs

[theroc]

Welcome to the forum.

There are two theories of thought or camps when it comes to these extended "service contracts" (as they're not really a warranty -- kind of a misnomer, really).

I'd prefer to self-insure and have never used one of these programs myself. It's proven that they rarely pay off. "Self-insuring" is essentially putting the same amount of money into either a separate bank account or just funds you "pay to yourself" in the case you need the money for major repairs. This is assuming that you have enough cash in the beginning to get your own savings situation in a comfortable position.

Yes, such a service contract might pay off and be a life-saver if you have a catastrophic or major repair during your first months of ownership but you'll have to weigh the probability of that happening. I've always taken the chance that nothing will happen and even if it did, I have enough cash to cover it and then pay myself back for it in order to replenish my "self-insured" routine.

These companies make a huge profit from these contracts. The consumer rarely benefits from them or gets their money's worth.

However, if it makes you feel more comfortable or secure having one, sure, it's okay to do so as along as you research what you are getting. Many want one for the peace-of-mind aspect ...but again, it monetarily rarely pays off.

Many will chime in on this forum (we've had dozens and dozens of threads on this through the years), telling you that they DID pay off and they were glad they bought one. However, for the majority, they do not and many of us just don't believe in them.

You'll have to make your own decision on what makes you more comfortable. We don't know the age of your mothorhome but if it's newer, it's even more reason why it probably wouldn't make sense from a financial sense to have one.

I'm not saying that it's rare to have things go wrong on a motorhome. In fact, just the opposite. Things DO go wrong with RVs routinely. It's just how you pay for the repairs is the decision you have to make ...out of your own pocket or paying in advance the excessive monthly payments (or the huge amount if paid in full) for the repairs.

[dizcom]

Never had one that would pay for anything. Denied, denied, denied. Had to take one to court to get them to pay for something that they very clearly, on the front page of the contract, said they covered. Took a chance and bought one for one of our last few rigs. Thought maybe the industry had changed and that the new contracts were better. Nope. Had one issue and they wouldn't even talk to us about it. Canceled that sucker and would never have another.

[funmoneypit]

Personally I wouldn't get one especially at that price but that's me.

Doing a quick calculation, $10k at 6% for 5 years equates to about $193/month. Don't buy the contract and stick the $193/month in a separate "RV repair" savings account. I bet you have money left over after 5 years. BTW, those payments actually equate to $11,600.

[Crasher]

This topic has been beat to death. However, it all comes down to comfort level. There are those who just feel more comfortable thinking they will be covered when something goes wrong with their RV. Many are disappointed when they find out that it was a false feeling of security and a waste of money. Yet, there are a very few who have been successful in collecting more than the premium they paid. Notice I said "Very Few" are happy campers. That's how insurance works. Several pay in so a few can profit. IMHO, it's much like going to the casino. The House always comes out on top at the expense of many to reward a few. But the House/Insurance company always wins. Do you feel lucky???

[Country Road]

Originally Posted by Chipster123

Greetings!

I am looking for input regarding “extended service / repair warranties “ or insurance. I’ve obtained a few quotes: Good Sam, National RV, & America’s RV Warranty.

I would greatly appreciate any experiences, recommendations, or the like. I don’t think any descriptive derogatory comments would be helpful - just “this company didn’t help me”, please, thank you.

My dealership offered me a coverage at $10K, but it was amortized over 5 years at 6%! No thank you.

Again,,, thank you in advance for the experience and comments.

I don’t usually buy them, but for the fun of it, I reached out and was quoted $4000 per year. I put that $4000 in a savings account and it’s still there. That’s piece of mind to me.

[Domo]

I'd never get an extended warranty. I'm also pretty good fixing things and religiously make sure my chassis maintenance schedule is followed.

However, if YOU do decide that an extended warranty is what you want you should be ware that there are inclusive warranties and exclusive warranties (both are self-explanatory) and the company will actively search for causes that outside of the agreed contact coverage terms - kinda like health insurance.

[kb7uxe]

my brother bought a nice little truck. got the extended warranty.
family was camping getting ready to head out, BANG ! rear differential explodes ! ( ok, a little dramatic ) anyway, no problem, I got the warranty. ok diag says: water in diff caused rust etc and so gears broke and came apart. no worries, I got a warranty. well, the warranty paid for the failed parts, but not the subsequent damage. prognosis: Failed $2.00 seal. covered. rest was subsequent damage. not covered....
M brother, a nice guy. and they kinda took advantage of him. but that's what they do. google and youtube. shop owners on you tube showing several cars on his lot waiting for customer to fix or junk because the EW failed them. refused to fix. one, the flex plate failed, and because it's not motor, it's not transmission, they refuse to cover it. ..
You really better off to have a saving account or one big credit card just for mh major repairs. ...

[bneumann]

"I don’t usually buy them, but for the fun of it, I reached out and was quoted $4000 per year. I put that $4000 in a savings account and it’s still there. That’s piece of mind to me."

Terrific advice from Country Road. Thanks.

[Ray,IN]

We bought an ESC when we bought this MH because it had been parked in a barn for 8 years. During the contract period from Good Sam it paid out everything it cost plus deductibles and diagnostic charges.
We renewed after the initial 3 years and I only filed one claim during the 2nd 3 years.


If you decide to purchase an ESC contract, include the gaskets and seals rider. Otherwise you wind up like a previous poster described.
Our MH became too old for any ESC to cover or I'd still have one. That's what I thought of them.
IMO the reason claims are denied is because the purchaser did not bother to read all the fine print before signing.


This is exactly like purchasing a health insurance policy.

[Chipster123]

To all who responded….

Thank you !!! 👍🇺🇸🇺🇸🇺🇸 The thought of having a piggy bank//stash is a Great one. I just could NOT see paying 6% interest over 200 months on something that may never be used. I’ve had experience in WAITING……. for the service center to “get to it……” So that is another very important point.

Thank YOU VERY MUCH!!

again very comforting to have a large group of like minded folks to have my 6…🇺🇸👍🇺🇸
Be well,,, In GOD we Trust

[Ludmilla]

My experience has been different. I had two different extended warrantees and both paid out more than I paid. No problems, no issues.