CornerStone Extended Wat
Purchasing a used RV , 2005 Winnebago Sightseer 29r, dealer pushing to buy warranty from CornerStone RV, what should I do? Any reviews from people?
Forum Discussion
An extended warranty is really an insurance policy. To fully understand what is and is not covered, and what the process is to file a claim, read the actual policy and not the sales brochure. The dealer will push you very hard to purchase as it is a gigantic profit center for them, sometimes even greater than the profit on the sale of the RV!
Remember, never buy insurance for something you can afford to fix/replace yourself. That is why you buy insurance on your house, but not on your toaster. So if you could afford to replace the A/C IF it failed, for example, then this warranty does not represent a value to you.
Of course, there are people who will tell you the extended warranty paid off for them. But the odds are not in your favor. Like any insurance, they merely collect money from lots of people and pay out to few people. The person whose house burned down will tell you they came out ahead on their homeowner's insurance, but how many people buy homeowner's insurance compared to how many people's houses burn down? Get the point?
These extended warranty companies have studied countless repair orders and know what items routinely fail and exclude them from coverage. They exclude coverage of related items, too. So if the oil pump fails in your engine, they will replace the pump, but not the rest of the engine ruined by the failure of the oil pump and lack of lubrication. They also have complicated claims processes and will deny a claim if any step of the claims process was not done correctly.
Remember, never buy insurance for something you can afford to fix/replace yourself. That is why you buy insurance on your house, but not on your toaster. So if you could afford to replace the A/C IF it failed, for example, then this warranty does not represent a value to you.
Of course, there are people who will tell you the extended warranty paid off for them. But the odds are not in your favor. Like any insurance, they merely collect money from lots of people and pay out to few people. The person whose house burned down will tell you they came out ahead on their homeowner's insurance, but how many people buy homeowner's insurance compared to how many people's houses burn down? Get the point?
These extended warranty companies have studied countless repair orders and know what items routinely fail and exclude them from coverage. They exclude coverage of related items, too. So if the oil pump fails in your engine, they will replace the pump, but not the rest of the engine ruined by the failure of the oil pump and lack of lubrication. They also have complicated claims processes and will deny a claim if any step of the claims process was not done correctly.
