Forum Discussion

carvingbob's avatar
carvingbob
Explorer
Jul 03, 2013

Extended service plan premiums

when I signed up for the extended service plan my premium was $2,512.99 for 3 years coverage. When I got the paper work to continue the same coverage the premium was $2,193.71 for only 1 year coverage. If I had know that there was going to be a 300%+ increase in premiums I would have put the $2512.99 in a special account along with the annual renewal premiums. I realize that the company that writes these policies are in business to make a profit not to pay for repairs, but that amount of an increase is more than most people can afford so for that reason I had to drop my coverage.
Extended Service Plan

4 Replies

  • Good_Sam_Care_T's avatar
    Good_Sam_Care_T
    Explorer II
    Jul 03, 2013
    Hello,

    Thank you for letting us know of your concerns. I have your information forwarded over to our department that can best assist you and they will be contacting you shortly regarding this. Please feel free to let us know if you need anything else at all. Have a great 4th of July!
  • invstr55's avatar
    invstr55
    Explorer
    Jul 03, 2013
    When purchasing an extended warranty it is always best to get a policy that will cover your RV as long as you plan to keep it. If you sell it sooner you can always get a refund for the unused premium.

    Happy camping
  • PapPappy's avatar
    PapPappy
    Explorer
    Jul 03, 2013
    You bring up an very good point. It might be interesting to ask how much a policy would be for an RV that is 3 year older than what you have, when you decide to make the original purchase....that might give you an idea of just how much of a rate jump there will be.

    3 years, means that there is a much greater chance of one of those appliances or RV parts failing, so they are hedging their bets, that it won't cost as much as the premium.....but it's sort of reversed from what your regular Auto insurance is (typically goes down as the car gets older).

    Thanks for opening a few eyes.

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