Warranty Are they worth it

[gpounder]

This is like gambling at a casino, the odds are in favor of the house.

But I did not buy it to fix my refrigerator, I bought it for the big stuff, like the $40,000 diesel engine, transmission, power steering, and air conditioner all of which are $2,000 + bills.

I look at this way I have prepaid for repairs on my terms.

And yes, used it once on a Class C to fix the differential bearing failure.

[creativepart]

Besides price... consider hassle. You’ll need to follow their maintenance rules. You’ll need their approval for all covered repairs. You may need to use their repair people. And keep in mind that each of those requirements are determining IF you will receive payment for your repair - and it’s in their favor if they do not make that payment.

[Mike8253]

The thing of this subject is that the purchase price of these "warranties" are all over the map, as are the resultant coverages. So while my vote is not to buy one, I do think you should get your quotes, understand the coverages, exclusions and deductibles, and then decide for yourself. In my case, when I bought our current RV, I was given a price of $7,000 with $500 deductibles per claim. Coverage was the standard stuff. So, I figured if I had 4 to 6 significant claims, I was going to be out of pocket $9K to $10K before I ever got a nickel back. So I'm self-insuring. You'll need to make your own decisions, just do it with data.

[WRP]

Thanks everyone for your response.

[Old Scout]

...interesting...this issue has been discussed many times over the years on this forum...in the past, there have been a few more positive responses...wonder if the rate of pay-off for claims has changed? There are some good stories about major pay-outs for major break-downs....I didn't it once on first RV--only minor claims so I might have broken even--maybe. "Assuming" you don't get caught in a loophole issue and your claim is dismissed, you might view it as a catastrophic coverage--just know that the larger the claim, the more likely it is the insurance [not warranty] company will fight the claim.....

[UTTransplant]

Warranty companies make money. The warranty seller (dealer, bank, etc) also makes money. They wouldn’t make that money if they paid out claims more than the warranty cost. They know the majority of warranty buyers never get paid more in claims than their cost. Self-insurance makes financial sense, but you need to consider the probability of a major issue and whether you could cover it. Just make sure you stash the money you would have paid for a warranty in the bank so you have it available in case something does happen.

[jaearhart]

I've just experienced the LIFE TIME SERVICE WARRANTY at the Dixie Rv Sales , service by Camping World. For a Class A you'll pay $330.00 every year for the LABOR to perform the check list. I see they may have visually inspected but did not grease or clean anything. I have the extended warranty on the Freightliner and Cummings diesel.

[AE Wanderer]

For us, an extended warranty has more than paid for itself. None of our claims have been denied. Water pump went out on engine. Covered. Dash A/C went out. $3200. Covered. EGR cooler went out on our Cummins ISL. $4200. Covered. Towing, covered. We got stuck in the mud in Alabama. The towing provided in our extended warranty covered the semi tow truck needed to pull us out.For repairs, if more than 100 miles from home, they cover meals and give $100 per day for lodging for 5 days.

Maybe we got lucky, but extended warranty works for us. One word of caution, CW policy seems to deny more than covering. We have Easy Care as our warranty provider.

[WRP]

Thanks for all the information. Big help

[Mr_D]

By law they are not a "warranty" they are a contract with very specific performance required. They are written by attorneys to make money for the selling dealer and company.

[MSHappyCampers]

I understand that the dealer that sells these warranties makes a HUGE profit! That's the reason they push them!

[G Schulz]

I would never buy another. To many loop holes in the contracts for the consumer to come out ahead. Some of them won’t consider owner performed service as proper maintenance. Not for me as I do all my own maintenance.

[grindstone01]

Warranties exist for only one reason and that is to make a profit for the policy writer. I have taught myself to repair most RV items and when the refrig went out, it was replaced by night fall with a resident frig, so it was only a small inconvenience to us. I keep a reserve set aside for a major repair that I would not be able to handle, but in the last 7 years, the reserve just sits there.
Once I got stuck in the snow with the trailer attached, I offered a passing truck $50 and was back on the road before I would have even been able to call a tow truck.
It mostly depends on how resourceful you are whether warranties are worth it or not. Some people don't want to deal with issues and would rather make a phone call and sit back, (the waiting for someone else part would be too frustrating for me).

[Reacher]

Here is an example. Lets say your furnace blower motor is making an unusual noise but still blows some air. Not covered. The motor has to fail completely in order for the warranty to kick in. You would be responsible for the diagnostics and replacement motor. So to me the warranty would be useless in most situations.