Extended Warranties

dougrainer wrote:
1. They are NOT warranties
2. They are EXTENDED service contracts
3. They do NOT cover everything
4. READ and understand what the coverage is. THIS is the biggest problem with consumers. They do NOT read and comprehend what the ESC covers and does NOT cover. They hear it is a extended WARRANTY. IT IS NOT. The price will be dependent on what is covered. 1 YEAR ESC contracts rarely cover the things people want it to cover. People that understand what I have just posted are usually happy ESC contract owners. The ESC is betting you will NOT need them and you are betting you will. Doug

They are an insurance policy and as far as I am concerned a waste of money.

I had an extended warranty years ago - offered by Broadway Ford dealer but with a "National" company for my new pickup. When I finally needed to use it they had gone bankrupt, of course. Went to dealer and nothing they could do.
Last year when I purchased a used motor home the dealer (Smith Chevrolet RV) offered an extended warranty, bumper to bumper. The dealer covers all warranty issues, while traveling or at home. Been well worth the piece of mind with a used vehicle.
Check to see how long warranty company has been around.

Dachristianman wrote:
It's insurance....sorta like gambling in Vegas. You may come out ahead, but the odds are in the casino's favor.

I'm not a fan of insurance because I'm able enough to do most of the work myself. $5000 nets me $250 per year in interest alone and I can purchase quite a few parts for $250 and still have my $5000 at the end of the term. It's all a gamble and you'll find both winners and losers on both sides.

Tom

Enlighten all of us. Where do you get a GURANTEED 5% return on $5000? With no penalty? Doug

It's insurance....sorta like gambling in Vegas. You may come out ahead, but the odds are in the casino's favor.

I'm not a fan of insurance because I'm able enough to do most of the work myself. $5000 nets me $250 per year in interest alone and I can purchase quite a few parts for $250 and still have my $5000 at the end of the term. It's all a gamble and you'll find both winners and losers on both sides.

Tom

I have had Good Sam for some time now and it has proven to be a good purchase.
Some say put the money spent on service plans in the a special account to pay for repairs. Great if you can do it.
I have yet to be dissatisfied with coverage.
I have had work done on jacks to air conditioners with no hassle at all.
Glad I have this coverage.

hotjag1 wrote:


I bought a 5 year warranty for $5000. As you can see, I am money ahead, and I still have more than 4 years left on the warranty.
It's a gamble whether to buy an extended warranty, but in my opinion, it was worth the risk for peace of mind...and $$$ ahead.

Yep even warranty company's take a risk, they are losing on yours but making it up on many others, so far almost 1 year with my RV and no issues, seems everything works well, looks like my warranty company will be making money on mine.

I'll state my personal experience, and the OP can decide if an extended warranty is worth it, or like some, hope nothing much goes wrong.

I purchased my motorhome in July of 2013. It had 37,000 miles on it. A month after I got it, the high pressure fuel pump started leaking. It turned out that the lift pump was leaking slightly also. About the same time, the coolant sensor in the generator failed. My extended warranty paid to have both fuel pumps replaced, and also replaced the sensor for the generator.

At the time of repair, the mechanic noticed that I had an air leak at the dryer. The warranty company had them fix that too. The total bill came to $4300. The extended warranty paid for everything minus my deductible. No haggling or questioning about price whatsoever.

About a week ago, my cooling unit went out in the refer. Just had it replaced. Parts and labor came to $2300. Again, the extended warranty paid for everything minus my deductible.

I bought a 5 year warranty for $5000. As you can see, I am money ahead, and I still have more than 4 years left on the warranty.
It's a gamble whether to buy an extended warranty, but in my opinion, it was worth the risk for peace of mind...and $$$ ahead.

1. They are NOT warranties
2. They are EXTENDED service contracts
3. They do NOT cover everything
4. READ and understand what the coverage is. THIS is the biggest problem with consumers. They do NOT read and comprehend what the ESC covers and does NOT cover. They hear it is a extended WARRANTY. IT IS NOT. The price will be dependent on what is covered. 1 YEAR ESC contracts rarely cover the things people want it to cover. People that understand what I have just posted are usually happy ESC contract owners. The ESC is betting you will NOT need them and you are betting you will. Doug

I bought mine through Wholesale Warranties also and have been satisfied. An exclusionary policy means 'what you see is what you get', in that it's spelled out what is NOT covered. If it's not listed, it's covered. Tell them you also want a policy without the dreaded weasel clause, 'if a covered part fails, due to the failure of a non covered part, the covered part is NOT covered'! Gotta love attorneys.......Dennis

I too would contact wholesalewarranties.com. They are agents and offer a bag of options. Very helpful people who also enjoy the RV lifestyle.