Community Forums

PeterGunn · 04-20-2023, 12:56 PM

We're just getting into the RV life. Our plan is to go with a used Class A rug. I'm a novice RV service tech. That along with my age and minor physical challenges got me to thinking about what I'll do when our rig requires repairs. I have the mechanical experience and skill sets to perform any repair but physical requirements and lack of proper tools would be a DIY show stopper. The options are going to be pay as needed at the time of the repair or pay for a service agreement (extended warranty) to cover cost of most service needs.

What do you guys think about this? We'll be full timers and don't plan on a lot of travel. I have my eyes out for a 2013 or newer 38 to 42 ft rig that's in my budget.

theroc · 04-20-2023, 01:47 PM

This topic comes up regularly on the forum. Many of us say to "self-insure" or pay yourself in advance for anticipated repairs as an alternative to those expensive service contracts as they RARELY pay off and are a money-maker for the company that is offering them.

So whatever you have to do to keep a reserve account to pay for repairs. If that means a separate savings account, etc., then do that. Any way you can save so you have enough to cover repairs.

Many of those service contracts do not cover a lot and have a multitude of "fine print" exclusions. You think you're covered for something and then you have to pay out-of-pocket in the end anyway ...on top of the premiums you're paying for the extended service agreement. They'll try very hard not to cover things as that's the way they make money.

Sure, it pays off for some but the vast majority of those who pay for those extended service agreements do not get what they pay for in the end. You'll have some post here that they're glad they had one as it covered something that would have cost them a lot had they not had it but that's really a rarity.

George Schweikle · 04-21-2023, 07:54 AM

This is a well thought out response and essentially combines the many, many, comments you can find here regarding service plans.

Quote:

Originally Posted by theroc

This topic comes up regularly on the forum. Many of us say to "self-insure" or pay yourself in advance for anticipated repairs as an alternative to those expensive service contracts as they RARELY pay off and are a money-maker for the company that is offering them.

So whatever you have to do to keep a reserve account to pay for repairs. If that means a separate savings account, etc., then do that. Any way you can save so you have enough to cover repairs.

Many of those service contracts do not cover a lot and have a multitude of "fine print" exclusions. You think you're covered for something and then you have to pay out-of-pocket in the end anyway ...on top of the premiums you're paying for the extended service agreement. They'll try very hard not to cover things as that's the way they make money.

Sure, it pays off for some but the vast majority of those who pay for those extended service agreements do not get what they pay for in the end. You'll have some post here that they're glad they had one as it covered something that would have cost them a lot had they not had it but that's really a rarity.

TXiceman · 04-21-2023, 09:36 AM

A well discussed topic. If you do go with the extended coverage policy, read it very carefully as to what is covered and not covered. Is it an inclusionary or an exclusionary policy? The companies will rule on coverage based on the policy documents. Many will exclude a failure due to a seal failure as seals may not be covered.

See what kind of maintenance records wre required to keep the policy in effect.

Our last 5er we went with save the money and pay as you go. If you do get a policy, make sure you can read it in detail and cancel for full refund within a given time period like 30 days. You will also do better shopping on your own rather than buying from the dealer. These policies as well as protection packages are a big profit maker for the dealers.

Ken

eddndee · 04-21-2023, 05:40 PM

We bought an extended warranty that allowed us to get our money back if we didn’t use it. So after many years, and we hadn’t used it, we got the premiums back when we sold the coach. Of course they applied that refund to the owed amount on the purchase price of the coach… sigh

Ray,IN · 04-21-2023, 06:16 PM

Quote:

Originally Posted by theroc

This topic comes up regularly on the forum. Many of us say to "self-insure" or pay yourself in advance for anticipated repairs as an alternative to those expensive service contracts as they RARELY pay off and are a money-maker for the company that is offering them.

So whatever you have to do to keep a reserve account to pay for repairs. If that means a separate savings account, etc., then do that. Any way you can save so you have enough to cover repairs.

Many of those service contracts do not cover a lot and have a multitude of "fine print" exclusions. You think you're covered for something and then you have to pay out-of-pocket in the end anyway ...on top of the premiums you're paying for the extended service agreement. They'll try very hard not to cover things as that's the way they make money.

Sure, it pays off for some but the vast majority of those who pay for those extended service agreements do not get what they pay for in the end. You'll have some post here that they're glad they had one as it covered something that would have cost them a lot had they not had it but that's really a rarity.

Yup, just like your health insurance contract/policy. They are gambling you'll stay healthy, you are gambling you won't.
I would not buy an extended service agreement on a trailer, I did buy an ESC on this MH, because it had been parked in a barn for 8 years when we purchased it and we anticipated things would fail when we began using them.
By the end of the contract we came out ahead, including deductibles and diagnostic charges.

RVFunlovers · 04-21-2023, 07:22 PM

No wrong answers. Personal choice.
The more you are able to do yourself the more I would lean towards just doing what you can do and paying for what you can not.

txcpl · 04-22-2023, 06:53 AM

Over 60 years of driving and never had a large bill until last year. A blown dp engine. Very costly. No insurance coverage, so out of pocket and 3 months in the shop as it happened just before the holiday season.
the experience has me wondering and I am checking into the different agreements and their costs. It's a decision my bride and I will make together.
Insurance is legalized gambling in my book.

theroc · 04-22-2023, 11:41 PM

Quote:

Originally Posted by txcpl

Over 60 years of driving and never had a large bill until last year. A blown dp engine. Very costly. No insurance coverage, so out of pocket and 3 months in the shop as it happened just before the holiday season.
the experience has me wondering and I am checking into the different agreements and their costs. It's a decision my bride and I will make together.
Insurance is legalized gambling in my book.

I do agree, a gamble. But the amount you've saved in the last 60 years by not paying for extended service contracts along the way and not needing the coverage they offered, I'm thinking you could have come close to paying for the blown engine you had to pay out-of-pocket to cover. You may never again have another blown engine for the rest of your life.

We've also heard from those who had extended contracts on chassis items and then had a blown engine that wasn't covered when they thought it would be covered.

I still say it doesn't pay off for most. But the more sane and logical responses in this thread are those who say it is a personal choice. If it gives some a great calming feeling to have that coverage and peace of mind, then that obviously may be worth spending the money. I'm personally not in that category.

BYoshida · 04-23-2023, 04:09 AM

We had purchased on a previous coach. The problem was finding an "authorized" service place. And our local repair place quit dealing with any service contracts because most were a pita for them. It can also add days to weeks to your repair getting the correct authorizations. So now, we just pay out of pocket as needed. We find that most things, we can do ourselves. The big tool needed jobs, we leave to the pros.