Extended Warranty ? - Again....

I have self insured on maintenance over my life time and I am way ahead of the curve economically. The odds are in ones favor to do so. Things these days seem more reliable than the past which makes self insuring more attractive. In fact I could argue that if the auto and truck industries offed a 3 month warranty rather than multi-year warranties, that the cost of those products would be substantially reduced to a point that it would be in the customers best interest. As it is now, the public has become too reliant on the manufacturers to cover every thing while making high profits to do so. BTY before I retired I priced warranty services and was a pioneer in service contracts. We found that it was a high profit item for the corporation.

Paul Clancy wrote:
The house always wins. They pay out enough to give the illusion of being "worth it ".

ON AVERAGE, the house wins most of the time. It does not win every time. The challenge is figuring if you one of the minority who has a higher probability to "beat the house" than the average user.

I only make the case, the more you use the RV, the more likely you are to beat the house (and get your money's worth from a policy). So these policies might be worth considering for fulltimers, and those whose stay in their RV 6 months or more a year.

IMHO, if you are a casual user (less than a month a year), in all likelyhood, an extended warranty is not worth it.

Jayco-noslide wrote:
Sorry, I still don't get why someone who could afford a $500K MH would buy an extended warranty. A repair of several thousand dollars 4 or 5 years down the road should be of little consequence to such a buyer. unfortunately, it kind of make more sense for a lower income person to buy a warranty than a high incomer because they may have more problems paying for unexpected expense. But over the long run, I still wouldn't recommend it.

After spending a good bit of time with this gent, I suspect he would answer something like this: , "I always play the odds and in this case, IMHO the deck is stacked against the insurance company. The policy is not priced for someone who uses the motorhome full time like I do. It is priced for the casual user. In all likelihood, I will get much more out of the policy than I paid for it. Playing the odds like this is why I can afford a $500K motorhome." He would then add: " besides I worked in this business for 35 years, I know how to get the most out of this policy.

He even had the dealer remove his solar system from his other rig and reinstall on the new one as part of the purchase cpntract, that way the solar system is covered by the extended warranty.

Now if this gent was not a fulltimer, and instead a casual 2 week a year user, he would not have purchased the warranty as he feels that is the classic case the insurance company is pricing the policy to make money on. For the casual user, the odds are then stacked in the insurance company favor. The insurance company sells way more policy to the casual user than they do the fulltimer....they are their bread and butter for these policies....

Sorry, I still don't get why someone who could afford a $500K MH would buy an extended warranty. A repair of several thousand dollars 4 or 5 years down the road should be of little consequence to such a buyer. unfortunately, it kind of make more sense for a lower income person to buy a warranty than a high incomer because they may have more problems paying for unexpected expense. But over the long run, I still wouldn't recommend it.

The house always wins. They pay out enough to give the illusion of being "worth it ".

We have the XtraRide warranty on our 5'er. Have had two repairs done both without issue. One was an issue with the awning motor and the other was to replace a waste tank valve. In both cases we went to an independent local RV shop.

We bought the warranty when we got our trailer new 2 years ago. Asking price was close to $2500. We said no and the dealer dropped the price several times until we agreed to $1500 for the platinum warranty.

I never buy the extended warranty. In 2013 bought a new Montana.After about 10 months had already had several big dollar items replaced under original warranty. Decided to get an extended warranty. Cost was about $1600 for an additional 5 years. They just replaced the microwave/convection. About $700.

First off only OEMs can offer a warranty. You are purchasing a service contract which are treated totally different in a court of law. For example, you purchase from XYZ company on Monday on Tuesday they dissolve the company and go out of business and probably reopen in the same office under a different name. What is your recourse? Basically none as you can't sue a non existent company. In some states they are not allowed to advertise as a "Warranty" because it is misleading. A OEM that offers a warranty has to set aside an amount for warranty issues if they declare bankruptcy.
As others have said read the fine print. What the bold promises the fine takes away. A warning sign is the statement that "covered items are not covered if failure is caused by an uncovered part". They then exclude seals. A friend lost a battle on his vehicle power steering pump. They immediately said that it was caused by a leaking seal. He sent statements from the garage stating that it was a broken shaft and it had no leaks. They still refused saying it had to be a seal. Claims approved = profits down, claims denied = profits up

Just received a quote from United States Warranty Corporation for an exclusionary policy. Reading thru the fine print, seems very similar to XtrRide Platinum. Cost for 84 months $1600.......or $2000 for 108 months...

IMHO, if one were truly to keep the RV for 108 months (9 years) and use it 3 to 6 months a year, I think you would have a good shot of getting you money's worth out of warranty.

My situation. We are purchasing a new fifth wheel. We are going to be living in it but mostly stationary for the first couple of years. In this case would an extended warranty be a good idea as I would assume most things go wrong while you are moving it? Hope I didn't hijack the thread.