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07-31-2013, 10:38 PM
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#15
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Senior Member
Tiffin Owners Club Freightliner Owners Club
Join Date: Oct 2008
Location: Merritt, BC
Posts: 3,753
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Quote:
Originally Posted by Mr_D
Or they use it against you!
Case in point: Owner had a transmission fail, insurance co requested maintenance records. They determined the engine oil wasn't changed till 750 miles past recommended mileage. Result was that they denied ALL coverage. The company did refund the owners payment for the so called coverage and that was it.
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Hence the reason for my first sentence.
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Bob, Sherron & Kinsey (RIP 2013-2022)
2017 Tiffin Phaeton 40QBH
2014 Jeep Cherokee Limited
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07-31-2013, 10:38 PM
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#16
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Senior Member
Country Coach Owners Club Solo Rvers Club iRV2 No Limits Club
Join Date: May 2011
Location: Vancouver, WA
Posts: 37,725
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Quote:
Originally Posted by Dunner
My fuel pump went weak and broke a piston. My dash AC had a slight leak and the speedo jumped to 40 as soon as I started moving. Total claim was for >$10k. 4 year warranty cost $4500. I win.
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The insurance company writes the polices to make them a profit. If they didn't the company wouldn't be in business long.
We didn't buy one on this rig. The savings paid for all the maintenance and new tires so far.
__________________
2009 45' Magna 630 w/Cummins ISX 650 HP/1950 Lbs Ft, HWH Active Air
Charter Good Sam Lifetime Member, FMCA,
RV'ing since 1957, NRA Benefactor Life, towing '21 Jeep JLU Rubicon Ecodiesel
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08-01-2013, 02:51 PM
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#17
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Senior Member
Join Date: Dec 2012
Posts: 529
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I really wish all self insurers the best of luck. Everyone buys different kinds of insurance. I chose not to buy long term care insurance as do many others. I never bought home security monitoring either. Priorities are different for everyone.
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08-01-2013, 03:38 PM
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#18
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Senior Member
Join Date: Jul 2012
Location: Fulltime, USA
Posts: 16,706
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There is insurance you buy, and insurance you can make.
I had an EW on my first coach. $4000. $1500 in covered claims. So, I lost.
But that is how EW companies make profits. Sometimes you win, usually you dont.
I self insure now. In 1995 I put away $175 per month, and it gained in value and continues to. Have not contributed since 2005.
I had good luck, no big repair costs. The fund is now enough for any cost, including a cruise per year, says DW.
I choose who works on my rig. And I never deny myself a claim.
But I do have RSA
Just sayin....
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08-01-2013, 03:50 PM
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#19
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Senior Member
Fleetwood Owners Club iRV2 No Limits Club
Join Date: Sep 2012
Location: Rainbow Riding
Posts: 18,574
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^^^ Dave, you forgot to say Jinx.
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Steve & Annie (RVM2)
2008 Fleetwood Bounder 38F ~ 325 ISB Turbo ~ Freightliner XC 2014 CR-V ~ Invisibrake / Sterling All Terrain
Sioux Falls, SD (FullTime Since Nov 5th 2014)
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08-02-2013, 07:33 AM
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#20
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Senior Member
Newmar Owners Club
Join Date: Nov 2006
Location: Young America, Minnesota
Posts: 370
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If You read the EXCLUSIONS these Companies offer, YOU WILL NOT BUY!!!! an Extended warranty,
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45' Newmar Essex, Towing 24' Trailer, 2007 Mini Cooper Conv as well as Street Legal Golf Cart inside.
Anyone wanna play Golf??.
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08-02-2013, 08:46 AM
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#21
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Moderator Emeritus
Join Date: Jan 2007
Location: Litchfield Park, Arizona
Posts: 10,530
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Quote:
Originally Posted by DCTENT
If You read the EXCLUSIONS these Companies offer, YOU WILL NOT BUY!!!! an Extended warranty,
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That's a pretty broad statement.
We read the exclusions on our Easy Care policy and still bought.
Rick
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Rick, Nancy, Peanut & Lola our Westie Dogs & Bailey the Sheltie.
2007 Itasca Ellipse 40FD
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08-02-2013, 09:22 AM
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#22
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Member
Join Date: Apr 2009
Posts: 64
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Bought my first car 60 years ago. Since then many cars, RVs, boats, etc. bought without extended warranties (service contracts). I'm tens of thousands $$$ ahead. As repeated many times before, service contract companies are in business for profit. Some service contract holders will be winners, most will not, as it's a zero sum game, you roll the dice.
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08-02-2013, 10:57 AM
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#23
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Senior Member
Fleetwood Owners Club iRV2 No Limits Club
Join Date: Sep 2012
Location: Rainbow Riding
Posts: 18,574
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Quote:
Originally Posted by wazone3
Bought my first car 60 years ago. Since then many cars, RVs, boats, etc. bought without extended warranties (service contracts). I'm tens of thousands $$$ ahead. As repeated many times before, service contract companies are in business for profit. Some service contract holders will be winners, most will not, as it's a zero sum game, you roll the dice.
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If it were a zero sum game, the winners would equal the losers. And the winners in this case can exceed the losers in numbers but not in aggregate dollars else the profit and company are gone. Like any form of insurance, it's a personal choice and often a bad bet. Many have had successful contract outcomes, many others have not.
__________________
Steve & Annie (RVM2)
2008 Fleetwood Bounder 38F ~ 325 ISB Turbo ~ Freightliner XC 2014 CR-V ~ Invisibrake / Sterling All Terrain
Sioux Falls, SD (FullTime Since Nov 5th 2014)
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08-02-2013, 11:38 AM
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#24
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Senior Member
Join Date: Dec 2011
Posts: 1,910
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My husband refuses to pay for extended warranties. In only once case in 25 years would it have paid off. But we still would have spent more for the extended warranties than the work needed.
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Retired. RVing with one husband and five cats.
1999 32' Fleetwood Southwind Class-A. Ford V10.
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08-02-2013, 01:29 PM
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#25
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Moderator Emeritus
Join Date: Jan 2007
Location: Litchfield Park, Arizona
Posts: 10,530
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Quote:
Originally Posted by flaggship1
If it were a zero sum game, the winners would equal the losers. And the winners in this case can exceed the losers in numbers but not in aggregate dollars else the profit and company are gone. Like any form of insurance, it's a personal choice and often a bad bet. Many have had successful contract outcomes, many others have not.
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Well said and my thoughts exactly.
It's funny how many folks look at these as "investments" or "wagers" in which they have to either win or lose... rather than the insurance policies they actually are.
I don't hear folks complaining that their home insurer makes a profit, or that they've wasted money by paying for car insurance because they have yet to have an accident.
Rick
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Rick, Nancy, Peanut & Lola our Westie Dogs & Bailey the Sheltie.
2007 Itasca Ellipse 40FD
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08-02-2013, 01:43 PM
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#26
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Senior Member
Join Date: Jun 2011
Location: Phx, Arid~zona
Posts: 11,106
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I never even thought about it being a wager or bet till I came onto RV forums.
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08-02-2013, 01:52 PM
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#27
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Community Administrator
Join Date: Aug 2009
Posts: 53,543
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Yup. The ins co is betting that you may not have a loss and you're betting that you may. It's very expensive if you never use it and its very cheap if you do. Large #'s of homogeneous groups is what makes it economically feasible for both.
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Cliff,Tallulah and Buddy ( 1999-2012 )
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08-03-2013, 09:23 PM
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#28
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Senior Member
Join Date: Feb 2013
Posts: 201
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I pay hundreds in insurance for auto and hope not to use it, hundreds in house insurance and hope not to use it, hundreds in medical insurance and hope not to use it, hundreds in life insurance really hope not to use it. So yes I pay for extended insurance on my rv.
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2013 F250 Super Crew, 4x4, powerstrke
2013 Sundance 3310 CL, Platinum
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