Service contracts

ScottG wrote:
Do a quick search to see what others have experienced with them.
Short answer is don't do it.

I’ve been doing a lot of research on this myself and this seems to be the conclusion I’ve come to. Better to self insure because of coverage and speediness of payment for repairs.

Do a quick search to see what others have experienced with them.
Short answer is don't do it.

Consumer reports says they aren't worth the paper they are written on. In 14 years, I've replaced tires, 1 wheel and brakes + the usual maintenence. I've save about 3K doing my own work so that's a fishing trip to the Keys.

I had one for 5 years...2008 to 2013. Bought it at my selling dealer right after the 3yr/36mo Ford powertrain warranty expired. Ford did not have an ESP for the F53 chassis, so I went with what the dealer was selling...I think it was called the Choice. I paid $1450, which was a 90% discount off the dealer's commission since the salesman was an old Navy buddy. Original cost was around $2800.

Anyway, it was a 5yr/60K mile bumper to bumper ESP with a $200 deductable. There were the standard exclusions, and failed part clauses, and owner service/maintenance requirements. Nothing I couldn't live with.

I used it about six times in the 5 years. A $1400 fridge coil replacement, a $900 roof air replacement, a $500 electric leveling jack replacement, a $400 front TV replacement, a $400 12v/120v converter/charger replacement, and a $800 main slide motor/gear replacement. All these were with a $200 deductable, so my total cost in 5 years was $2650, and I got $4400 worth of service/labor/parts.

I looked in early 2013 to replace the ESP, but could find nothing that I wanted to pay the price for, so I became self-insured.

An "extended warranty" is really an insurance policy. You pay a premium and they promise to fix certain things if they fail. Remember, the odds are not in your favor. If they pay out more than they take in they loose. Most of these "extended warranty" companies have access to repair records so they know what typically fails, and excluded those parts from coverage. Some companies make you jump through extensive and complicated hoops to get payment. A classic is their inspector must look at the failed part before approving. The inspector takes weeks and weeks before the inspection. Mean while you are without your RV and the repair shop wants it out of their way.

Before buying an "extended warranty" read the actual policy not the ales brochure. Understand exactly what you are buying.