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Old 11-16-2021, 08:01 AM   #1
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Help with extended warranty please!

Yikes! We just paid a fortune for a Newmar Ventana and the dealer sells Cornerstone extended warranty. We will need to sell our grandchildren to pay for it so I am asking you experienced people for your extensive knowledge about which one is reliable. Is Cornerstone good or is there a better one in your opinion? Thanks so much in advance.
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Old 11-16-2021, 08:14 AM   #2
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By law they are not an extended warranty, they are a service contract and come with lots of ways to not pay. Think of them like your house insurance, they are not designed to keep you happy, they are there to make money for the seller. If everyone got their money back they would go out of business.
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Old 11-16-2021, 08:32 AM   #3
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Quote:
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By law they are not an extended warranty, they are a service contract and come with lots of ways to not pay. Think of them like your house insurance, they are not designed to keep you happy, they are there to make money for the seller. If everyone got their money back they would go out of business.

Really well stated. We've gone with the extended warranty on occasion and have found them to never, ever, be worth the cost. Cornerstone was the last we tried and the fine print equaled a) they didn't cover anything, and b) we canceled them and got our money back when we discovered a), after we had a problem (minus their cut for not covering anything for several months). We won't buy them or anything that looks like them again. It's unlikely that something is going to break (that they will cover) that costs more than the cost of the contract.
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Old 11-16-2021, 09:13 AM   #4
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Mr. D has it right. It's an extended service contract. In reality it's not what is covered but what isn't covered.

For example:
I have a friend who paid $8K for his extended service/warranty policy for his DP. He had a high pressure pump fail a couple of years later. He thought it would be covered. But it turned out that the pump failed because of an failed "O" ring and my friends contract didn't include the "O" ring package. Therefore, since the pump failure was caused by a bad "O" ring it wasn't covered. High pressure replacement pumps aren't cheap.

When buying these types of policies you really have to read the fine print carefully. Don't read what's included, read what's excluded. Most people buy these policies because they're afraid of what might happen. Sometimes, what might will happen is covered and sometimes not.
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Old 11-16-2021, 10:12 AM   #5
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I'm not a fan of extended warranties! That is a HUGE moneymaker for the dealers and they will try to convince you that you can't get by without it!

Those companies leave themselves waay too many loopholes to get out of paying your claims. I know that some say the warranties have paid off for them, but I think they will be a very small percentage of the folks that have spent a pot full of money for them!

I would take that same amount of money and put it in a special bank account to be used only for repairs. I'm betting that you will have a lot of money left in the bank at the end of the time period when the warranty would have expired.

Good luck, happy trails, and God bless!
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Old 11-16-2021, 10:26 AM   #6
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Is the coach new? If so, it should have at least a 12 month warranty. Wait for that to expire before considering an ESP. Good Sam offers an ESP for about $1200/yr and it actually covers a number of items. I’m not recommending that plan. It’s just an option. Surely the mention of it will cause a flurry of opinions.

Honestly though, if you can’t afford an ESP, you shouldn’t have spent a fortune on an RV.
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Old 11-17-2021, 06:12 AM   #7
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Honestly though, if you can’t afford an ESP, you shouldn’t have spent a fortune on an RV.
Honestly, there's a world of difference between any purchase and the service plan on the purchase, which is more like gambling. Buy it and you're betting you'll come out ahead, but like Mr_D said if that happened the company would go out of business.

If you really believe they're stacking the odds in your favor, buy it. If not do as MSHappyCampers said and bank the money to cover repairs.
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Old 11-17-2021, 07:28 AM   #8
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Honestly, there's a world of difference between any purchase and the service plan on the purchase, which is more like gambling. Buy it and you're betting you'll come out ahead, but like Mr_D said if that happened the company would go out of business.

If you really believe they're stacking the odds in your favor, buy it. If not do as MSHappyCampers said and bank the money to cover repairs.
You missed the point of my statement. That being, if someone has the ability to spend a fortune on an RV, they should also have the ability to pay for ancillary expenses.

As far as an ESP being a gamble, wouldn’t the same logic apply to home or auto insurance? What keeps State Farm, Allstate, Progressive or any other insurance company in business? Answer: Premiums that exceed claims. Those odds are not stacked in your favor either.

Just imagine if someone had a catastrophic failure, like an ISX rebuild. It could happen.
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Old 11-17-2021, 07:44 AM   #9
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First rule… never buy any service contract from the dealership where you buy your RV. It’s way over priced. And be prepared for them to suddenly offer you a discounted price when you decline to buy their over priced “extended warranty”. See when they mark up the cost 2 or 3 times over their actual cost they can afford to offer you a newly available “discount.”

Your best bet, if you want a service contract is to reject the dealer’s product and shop on your own from a another source. This will save you thousands.

Also, this service contract is just the tip of the iceberg for all the other overpriced worthless things the dealer will try to push on you at closing. Be prepared to say NO a lot.
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Old 11-17-2021, 12:11 PM   #10
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Your best advise is to tell Cornerstone "NO" and keep your grandchildren.
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Old 11-17-2021, 12:55 PM   #11
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After two years we are in the process of canceling our five year extended warranty and recoup whatever we can. Let me tell you it’s a battle, the dealer has not been easy to deal with on this issue. On a trip to TX last winter we encountered some water issues. A local RV tech came to our CG and fixed the issues for $400. The RV tech was cash only and not interested in contacting the warranty company for permission to fix the issue. When we returned to PA we went through the process of submitting the invoices in hopes of getting reimbursed but the warranty company rejected our request.
In hindsight I would never purchase an extended warranty again. Our MH is in storage approximately six months a year. So over the five year period the MH is only used three years. That reduces the chance of something failing by 50%. I wish I would have considered this when purchasing but hindsight is always 20/20.
Put a monthly amount into an account and use that for repirs and maintenance.
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Old 11-17-2021, 01:26 PM   #12
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^^^There are 2 sides to every coin. Were the “water issues” a covered item? If so, was $400 less than your deductible?

It is a common requirement to get approval prior to having any work performed. It is also sometimes necessary to use authorized shops or technicians.

ESP’s aren’t for everyone. They’re also not mandatory. Sometimes we hear complaints about the plan when the plan isn’t the issue.
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Old 11-17-2021, 01:34 PM   #13
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I'm not a fan. Keep the money in your pocket, not theirs.
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Old 11-17-2021, 04:31 PM   #14
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If you bought it new, you have a 5 year warranty on the engine and transmission If it's on a Spartan chassis, the chassis has a 5 year warranty. If it's on a Freightliner chassis, you can extend the chassis warranty from 3 year to 5 years for about $1800.00. So, your power train is good for 5 years or 60K miles.

Again, if the coach is new, you have a 1 year warranty bumper to bumper and other appliances within the coach may have 2-3 year warranties.

With that said, I would hang onto your money and look at a Warranty/Service Contract at the 5 year ownership mark.
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