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Old 11-06-2020, 02:27 PM   #1
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Question Extended Warranty Experience?

Hello out there!
We are purchasing a new RV and having difficulty deciding on which Extended Warranty to go with. We are currently hearing some good things and seeing good prices on RV Advisor and America's RV. Your thoughts would really be appreciated! Thank you!
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Old 11-06-2020, 03:26 PM   #2
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Are you asking "which one to buy" or "should I buy"? The arguments for buying one at all are numerous, both pro and con, and sometimes get emotional. If you have already decided buying one is the right thing for you, then it's a matter of coverage vs cost. For that, you need to study the fine print in the actual contract and ignore the sales persons patter.


Differences in pricing always means differences in coverage, either type or amount of both. All described in techno-legal mumbo jumbo.
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Old 11-06-2020, 04:54 PM   #3
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I have never been a fan of extended warranties on RV's! I know some say they have paid off for them, but I think the vast majority never recover their investment. Those companies leave themselves too many loopholes to get out of paying claims.

I think that, in most cases, you would be far better off to put that same amount of money into a special bank account to be used only for repairs. I bet that at the end of what would have been the extended warranty period you will be money ahead! JMHO
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Old 11-06-2020, 08:07 PM   #4
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You are buying a new RV, I assume it comes with a factory warranty. I would not purchase an extended service contract now. It is a high profit item for dealers. BTW it is not a warranty, it is a contract binding each party to the terms and conditions of the contract. NEVER sign one without first reading and understanding the fine print.
That said, we bought an ESC when we bought this used MH because it had been parked in a barn for 8 years prior, and we thought it prudent. Turned out we were right, the contract paid out more for covered repairs than the purchase price.


When you do decide to shop for an extended service contract, include wholesalewarranties.com in your list of companies. This is an independent broker who shops for the best deal for your requirements. Include the gaskets and seals rider in the contract, otherwise if an engine gasket fails, which causes the engine to fail, the engine damage is not covered because it is consequential damage from a not covered item.
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Old 11-07-2020, 07:07 AM   #5
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All great input and appreciated! We have thought about not purchasing at all and banking the money for repairs. We are buying a much simpler gas rig this time so hoping not as much to break! I am still curious about any experience with America’s RV coverage and experience. They are newer to the market and seem to have taken a fresh new approach to this Biz.
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Old 11-07-2020, 08:53 AM   #6
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Quote:
They are newer to the market and seem to have taken a fresh new approach to this Biz.
Says their advertising? Or some independent source? I'm skeptical - the statistics on which repair insurance are based are the same for all providers - all they can do is provide more or less coverage to adjust the rates.


I look at reviews such as the one below and it screams "info-mercial" to me, not an unbiased report of a product.


https://todaysbestcompany.com/americ...-service-plan/
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Old 11-07-2020, 05:36 PM   #7
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I agree with your assessment Gary, that is an infomercial. One cannot read the contract terms and conditions until after one signs the contract, then during the 30-day waiting period.
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Old 11-07-2020, 06:17 PM   #8
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The only advice I have is. Pay up front for it. Some finance companies give you a rate discount if you buy it with them. But if you cancel warranty (I did) money goes back to the purchaser on warranty (finance company).I got lucky and paid after my loan closed.
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Old 11-08-2020, 03:30 AM   #9
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Extended Warranty Experience?

Quote:
Originally Posted by Paulynn View Post
... We have thought about not purchasing at all and banking the money for repairs....... ......

They are newer to the market and seem to have taken a fresh new approach to this Biz.
Banking a kitty for repairs is a good idea in general. As a specific alternate strategy vis a vis a service contract it would be shortsighted and risky. 1) you would be able to cover only a few relatively small failures; 2) you would still be in no position at all to cover a major catastrophic failure such as a full engine or transmission replacement.
There is no such thing as a ď...fresh, new approach...Ē to service contracts. Itís quite simple: big machine; things break; things get fixed; somebody pays. Donít be misled by marketing brochures.
IMO, a new coach has no need for a service contract. Your chassis and house carry a mfgr warranty, and most installed appliances and equipment carry their own new item warranties. The dealer offers very attractive rates for a SC on a new coach because they know damn well theyíll likely never have to pay a claim. Itís at the end of the new warranty period that a SC just starts to make sense.
We bought a 10 y/o Dutch Star in 2012. I thought- Ďhere I have a ten y/o machine full of ten y/o things. what are the odds that *nothing* will break in the next four years?í Answer: long odds indeed! So I went with Wholesale Warranties and bought a four year exclusionary SC with seals, gaskets, and tires covered, with two-way consequential damage coverage, and a $100 deductible. Cost: $4700 (in 2012). Payout over four years: $8500. So, it worked well for me.
Of course, my coach is now 18 y/o. Nobody writes an SC for an old coach like this except overpriced catastrophic coverage with $1K deductible, which I pay for only because my DW worries about such things and would be off the coach tomorrow without it. But thatís a different story.
Summary: IF you choose to buy an SC, be sure it is
1. Exclusionary
2. Covers seal, gaskets, tires. Now, you may at that time have road hazard coverage on your fairly new tires, but that wonít replace your tires if they just simply fail without hitting something.
3. Includes some amount of consequential damage. I donít think anyone is covering both sides of the consequential damage area these days.

Good Luck!
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Old 11-08-2020, 04:37 AM   #10
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We purchased one with our first class A for about $4,400 for 4 years, it did not pay out a whole lot as did not have many electrical/mechanical issues (but had loads of body issues which are not covered). 2.5 year later we replaced the coach at a different dealer and were able to move the contract for $2,000 ish for another 4 years. On the replacement coach at least $6500 has been paid out. There was about 1000$ in repairs they did not cover.

I am not sure if I would buy one again, but knowing my luck I would then end up with having to replace the engine, gear box, refer and air con unit :-(
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Old 11-08-2020, 04:49 AM   #11
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Sometimes you don't know if you made the right choice of warranty Company till it's time to use the warranty and the company nickel and dimes you. , Then you find out the repair company won't wait for the insurance company's check and want cash.

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Old 11-08-2020, 05:34 AM   #12
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From what I gather Wholesale warranties are the best to deal with (that are a broker). They do insist on an inspection which is a good thing
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Old 11-08-2020, 08:14 AM   #13
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Folks, this is insurance, not an investment. Insurance is something you buy to protect against unusually high repair costs, costs that might exceed your ability to pay in the short term. It's a very poor way to pay for routine repairs, cause the insurance cost includes a hefty sales commission and the overhead of a claims handling agent & process.

RV quality being hit or miss and repairs often expensive, buying repair insurance gives substantial peace of mind. especially for those who don't do much (or any) repairs themselves and have to rely on pricey RV shop repairs.


Quote:
Banking a kitty for repairs is a good idea in general. As a specific alternate strategy vis a vis a service contract it would be shortsighted and risky.
I can't totally agree with this assessment but it makes a valid point. If you get a big ticket repair item in the first year or two post-warranty, you may not have enough money in the repair account to fully cover it. But it's equally possible there won't be a major item, or that it comes later, when your repair account has accumulated a nice balance. Self-insuring works very well and is highly cost-effective for those who have the financial reserves to handle a largish unexpected repair in the early years. It also requires somebody with the discipline to put the money aside annually and not raid it for other things. If that ain't you, don't try the self-insure route.
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Old 11-10-2020, 03:46 PM   #14
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Wholesale warranty is worth a phone call
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