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Navychaps1's avatar
Navychaps1
Explorer
Jun 06, 2020

Extended service (Good Sam) lesson learned

Sometimes it pays to do the math. I have figured out that I have paid GS Extended service plan over 25,000 dollars in premiums. They in turn have paid out approximately $3000 in claims, $2000 of which they paid only after I caught the Adjuster they sent to the shop conspiring to deny my claim for what they claim was a failure of maintenance that "did not happen," prior to my owning the rig ( I was told at purchase of the plan that I could not be held liable for something a previous owner failed to do). This week they denied another claim costing me $1200 out of pocket and refused to pay diagnostics for a second issue that could have cost me up to $3200 out of pocket. To this point I say, good riddance.
  • years back adjusters got a nice chunk ,if they could get the claim lowered. my brother was one of those adjusters made six figures way back.
  • The difference in this "insurance," is, not once has my Auto or Home insurance ever tried to concoct a way to not pay. When you have an adjuster trying to get the mechanic to find a way to make the condition "non coverable" then that tells me they will do anything to try and not pay.
  • I always pay cash for everything. Eliminates banks requiring full coverage insurance. I do carry full coverage on my RV mainly because to many ways to damage it that I can’t fix. Never bought any kind of service contract or extended warranty on anything. At my age if it breaks and I can’t fix it or get it fixed I have saved enough money to buy a new one from what I have saved by not wasting money on those kind of programs.
  • Car insurance, home insurance, life insurance is all I have.. "Warranty" insurance.... I have done it before, and lost for sure.. But, in the end, I never had to deal with all the claims and down time and hassle of trying to make it a 'break even' deal..

    I declined it on my new 2019 Rockwood.. Feel comfortable with that decision as I've already fixed a couple of "warranty" related things that is still covered by the new factory warranty... But, I didn't want to have to haul the rig to the dealer. Wait a week for them to diagnose what I already knew was wrong, wait another week for the claim to go thru. Wait another week for it to fix a stupid $100 part....

    I fixed it in less than an hour after a 2 day "Prime" delivery..

    Anyway, I know I've lost a ton of money on the car, home, life insurance... But, in the end, I'm kinda glad I haven't had to really claim on them! :)

    Mitch
  • Insurance is a gamble. The consumer bets that he'll save money, and the company bets that they'll make money. The insurance company usually wins the bet.

    My wife and I been paying for life insurance on both of us for more than 30 years. I haven't won my bet yet. Neither has she. ;)
  • No insurance is there to save you money. Some are just a little more blatant about it. I used to sell extended maintenance on large computer systems. There is no way I would ever buy an extended maintenance policy on anything.
  • Thanks for noticing my math error. Big difference, 25,000. Still way to much considering the hassles and attempts to "deny" coverage by trying to influence the mechanic to diagnose an item in a way as to make it non-covered. Should have cancelled years ago.
  • If you paid $109,000 since 2008 that should be about $9000 a year?
    Is that correct?
  • “I will be cancelling my coverage I've been paying for since 2008.”

    Twelve years....$109,000 total. You paid GS $9100 per year? Unbelievable!

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