Extended warranty

Allworth wrote:
If it makes my wife happy (and quiet) it is worth every penny.

the best and most practical answer.
bumpy

If it makes my wife happy (and quiet) it is worth every penny.

I have gone against the common wisdom here and purchased several extended warranties(aka service contracts.) I am not able to make repairs myself. Just am not. The peace of mind was worth every penny I have paid.

I understand that you need to be VERY careful in regards to knowing what is covered. I have never had a major claim denied by this company. All three RVs with coverage have come out either close or ahead for me in costs at the end of the warranty term.

I just purchased a new Tiffin diesel last year and purchased a warranty through the same company I have had excellent service and payouts from them over many years.

I had just renewed coverage on a 2007 Winnebago Voyage gasser - I incurred MAJOR expenses requiring a new differential, major brake repair, new alternator and more in a brief three month period of major failures. I am faithful about servicing everything.

Total repairs last year were MUCH more than what the warranty cost me. When I sold the Winnie, I received a prorated amount that was only hundreds below what I had originally paid, rolled that into the new coverage. I received around $7k in repairs for only a small deductible. I was ahead of the price paid curve for sure.

For this mechanically challenged RVer, the warranties have worked for me. Each individual needs to assess their ability to do your own repair and their ability to either pay for a warranty up front or major repairs if/when they arise. Complexity of your RV is also a factor.

I like sleeping at night and when a failure occurs, I know I am out little but inconvenience and a small deductible. May you never NEED warranty coverage. Best wishes with your decision.

et2 wrote:
Many extended warranty companies go out of their way to deny claims, and even those that said were covered. They drag their feet approving claims extending your repair time.

That can be said about most any insurance, auto etc. It varies widely between insurance companies. I've made several claims to my RV extended warranty company. They've approved each one over night without issue.

Many extended warranty companies go out of their way to deny claims, and even those that said were covered. They drag their feet approving claims extending your repair time. If new, there are many warranties on your RV for a period of time.

We purchased one with our MH ( wife made me). It was a total waste of money IMHO. If I were to ever think to do on a other MH it would be after all the other warranties expired. Some people recoup their money, most do not.

If you read Jayco's warranty, I think you will discover they will not cover under warranty a RV that is lived in full time.

Winged One wrote:
I don't get them very often, but when I do, it's perfect insurance that I will never have anything covered, go bad. There is some security in that. ;)

This. Knowing that we're covered means nothing will break for us.

We bought an EW with our TT, and it has an insurance policy that if we never use it by the time it expires we get a full refund plus cost of insurance. In two more years we get a nice check in the mail, and will have had a problem free five years of ownership. :)

We will be in a fifth wheel. Full time. Not sure if we will have a payment or not. We may pay for it outright.

Don't automatically blow off the idea of getting an EW! Here's my standard response to this question:

Extended warranties are a highly personal decision, based on your financial situation and fear of risk. You don't say if the class A you are looking at is a DP or not. An engine or transmission replacement for a DP can run as high $15,000.

Higher end coach repairs, especially on older models, can add up quickly. How would a $4,000 - $5,000 repair bill affect you? Will your coach end up sitting in the driveway, un-usable, while you continue to make loan payments on it? Will a $1,000 repair bill cause you the same financial difficulty? If yes, then you might consider an EW. It's a matter of how much risk you are willing to take and how comfortable you are with the condition of your coach.

All that being said, these policies, especially for older rigs, are quite expensive. The insurer is in it to make money and they price the policies to ensure that on average, they take in a LOT more money then they pay out. the odds are strongly in their favor that you will not recoup your policy cost in claims. Remember that, no matter how many people chime in and tell you they received way more in claims then their cost of coverage! Regardless of what they say, they are in the vast minority!

When we bought our first DP, we had no experience with them. It was a 2003 Monaco Executive, bought in 2010 with 62,000mi on it. As we were going into such an unknown, we did buy a 2 year EW. Over that two year period, the only thing we had replaced was the alternator, so we didn't come close to recouping our cost. BUT, we felt a lot more comfortable while we were learning exactly what we had for a rig. After the two years, we did not renew the EW. we had the rig for 2 more years with no issues.

Sorry for the long winded post, but this topic comes up often and so many people think it can be answered with a simple statement that the EW is either a wonderful or a terrible idea. It can be either, depending on the situation. One thing for sure however...... If you do decide to buy one, take lots of time to read the policy, understand the fine print on the coverage and ask questions. THIS IS CRITICAL!

I don't get them very often, but when I do, it's perfect insurance that I will never have anything covered, go bad. There is some security in that. ;)