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Old 04-22-2021, 05:57 PM   #1
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Extended Warranty / Pricing Question

Hi all, I know the question of extended warranties has been asked and answered many times but I have a question about how much is a reasonable price to pay.

We have a 2019 Newmar Canyon Star that we bought new in 2019 and declined the extended warranty through the dealer. Now we're considering purchasing one and received a price through Wholesale Warranties. They wanted close to $6000 for a 6 year exclusionary warranty. I said that was more than we wanted to pay so they came down on the deductible to $500.

I have been doing some research and it seems there are many people who have 10 year old motorhomes, who have paid much less. Is this a reasonable price or too high?

Thanks so much for your input.

Annette
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Old 04-22-2021, 06:50 PM   #2
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Seems about right from my experience
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Old 04-22-2021, 06:59 PM   #3
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Sounds like the right ballpark for full coverage on a 2019 gas coach. Nobody with a 10 year old coach is getting a bargain price unless it is very limited coverage or shorter term. Maybe chassis only? Some (many?) repair insurers won't even accept a 10 year old coach.



Why don't you get some other quotes? Good Sam, America's RV, etc. Just make sure you compare coverage as well as price.
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Old 04-22-2021, 08:54 PM   #4
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IF you do purchase an ESC be sure to add the gaskets and seals rider, otherwise if an engine/transmission gasket fails and ruins the engine/transmission nothing is covered. All damage resulting from the failed gasket/seal is non-covered consequential damage.
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Old 04-23-2021, 01:41 PM   #5
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Over the years I have done a lot of research on RV extended warranties and one of my observations has been that the lowest cost contracts have by far the most unhappy customers because of the underwriter refusing to pay for repairs. The price you were quoted seems pretty accurate for one of the better companies. It is important to understand that what you are actually buying is an insurance policy on the RV that works very much like a health insurance policy. In both cases, those that pay most promptly and with least difficulty always cost more than those with high deductibles and frequent denied claims. Remember that these companies are in business for a profit, like any company and that in order to stay in business they have to collect more in total premiums from all customers, than what is paid out in total claims for the group. Like most insurance policies, most people do not collect as much as they pay out in premiums, but in the event of a major failure that is very expensive, then you will be happy that you bought the policy.

With any kind of insurance, you should only buy it for protection from losses that would cause you financial harm. If you normally have the cash on hand to pay for even the most serious of repairs, then you probably should not buy the policy.
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Old 04-23-2021, 01:41 PM   #6
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Not sure how, but this was entered twice.
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Old 04-23-2021, 03:41 PM   #7
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May I suggest you check around and review different plans. One place you may want to start is Gigi's at the RV Advisor (https://thervadvisor.com/products-an...nded-warranty/)
My research shows that good extended plans are between $5,000 - $13,000 for two to five years with a $200 deductible.
In addition, do not forget tire & wheel coverage and you really should look into Coach Net

Be safe
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Old 04-23-2021, 06:06 PM   #8
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Thank You!

Wow, thanks everyone for responding to my question. You gave some excellent things to consider and points I had not thought of. I think I will get some additional quotes and rethink this expenditure.

Again, thanks so much for your insights!

Annette
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Old 04-23-2021, 07:42 PM   #9
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That's about what we paid for the extended warranty on our Thor Axis 25.2; I'd say it's typical
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