Extended Warranty - Good thing ? Is it necessary ?

[jbstack28]

Well got a quote from Good Sams. They wanted two arms and two legs.
Another quote from another company was just a little better. >8,000

So who got, who uses it?

Or just put the 8,000 in a savings account as precaution?

Thanks

Chuck

[PGCR]

I had to think twice about an extended warranty yesterday while sitting at the Cummins dealer getting some preventative maintenance done on our DP. We were there for a simple fluids change, but there was another couple of who had been there going on a week...for a new fuel pump. Now granted, I don't know the extent of their story, or what else was wrong, but the gentlemen indicated that the total bill for the pump and labor was going to be around $6k. Like I said, I don't know what this all included, but he alluded to it being just related to the fuel pump on his DP...so that got me really thinking twice about an extended warranty...is it worth it or not, I don't know, but if it would have covered any of his $6k bill, it surely would have been worth the effort into looking at the coverage.

[hypoxia]

You will either swear at them or swear by them.

One advantage of a warranty; it relieves you of needing to pay for RV storage. When you find a problem the warranty approval takes so long you will be ready for your next trip when you get the camper out of RV Prison aka Dealer Service Department. :B

Keep your money in your pocket and you can be in control.

[JoeH]

midnightsadie wrote:
JOE H ,tell what company this is, sounds like they are on the level. me I banked the money.

HI- per my post, I purchased the service contract from Coach-Net. I got it at their booth at the Tampa RV show . It includes their road side assistance for 7 years as well as wheel/tire coverage. The contract says it's provided via AMT Warranty Corp.
WHen dealing with repairs, it does take a couple days longer to get things done. For instance, the coach is now in the shop. Shop tech verified that another slide out motor/gearcase failed and needed to be replaced. The service advisor called the service contract people, who sent out an adjuster. He then had to file the claim with HQ which takes 24-48 hours, so it adds 2-3 days to the repair cycle. This has been consistent over teh 4 years I've had work down under the contract. Now this is with non-emergency repairs so to me time is not an issue. I haven't had the need for an emergency repair on the road, so I don't know if they would accelerate the approval process if you we stuck somewhere out of town... I hope I don't find out either !

[midnightsadie]

JOE H ,tell what company this is, sounds like they are on the level. me I banked the money.

[JoeH]

I bought one for the first time ( on anything) after all the problems I had during my first year while under the manufactures warranty. It was a bit under $4k for 7 years covering everything. So far, new washing machine, 2 roof AC, 2 slide out motor/gear boxes, new indash GPS/entertainment center, control board for Oasis and many other repairs. Also peace of mind as I know I will never be out more than $100 for any repairs ( I bundle them and only pay 1 deductible for each shop visit) More than paid for itself and I have 3 more years to go. Purchased from Coach Net

[rk911]

the only way these companies make money is to take in more in premiums than they pay out in claims. as said if you have the $8K n cash start a maintenance & repair fund. if you don't DO NOT finance the service contract. you'll be paying for it for years after it expires.

[LetsRV]

This argument rates right up there with Ford or Chev, gas or diesel, etc. If you have the full 8k right now they yes put it in the bank. If you need to finance the 8k then ask yourself what you can afford now to fix if it goes bad. Engine, trans, fridge, etc.

Yes, lots of them do their best to get out of it but you also hear a lot of folks that got more than their money out of it. Look at one that is an exclusion type contract. It lists what is excluded, easier to figure out than what all is covered. Also get incidental damage, if a covered part takes out a non-covered part they will also cover it.

Is it a good deal? Depends, auto and home insurance aren't very good deals, well until you need it. It often boils down to peace of mind. Keep researching and you'll find both arguments strongly endorsed. Good luck with your search.

[Executive45]

Having had two separate service contracts, they are not warranties, I am a firm believer in them especially if you don't/can't do your own repairs. Both of mine paid for themselves several times over. That said, they can be expensive and may have too many exclusions. You must read over the contract carefully. My advice is simple. 1.Get a blank copy of the warranty and read it carefully,2. Look for weasel clauses, those that allow the company to weasel out of paying for your repairs. 3. I would only buy an exclusionary contract. That is one that specifically tells you what is excluded...in other words, they spell out what is NOT COVERED. If it's not listed, it's covered. No surprises. Also, look out for verbiage like, "If a covered part fails due to the fault of a non-covered part, the covered part is not covered". That's a direct quote from one of the contracts I looked at. That's lawyereze for 'You're screwed'... Finally, contact Jeff Shelton of Wholesale Warranties. He is up front, will send you the contract and assist if there is any type of dispute. Their prices also beat everyone elses.....Dennis

[rk911]

jbstack28 wrote:
Well got a quote from Good Sams. They wanted two arms and two legs.
Another quote from another company was just a little better. >8,000

So who got, who uses it?

Or just put the 8,000 in a savings account as precaution?

Thanks

Chuck

too many exclusions and gotchas. most don’t make out. take the 8K and start a maintenance/repair fund. we did that and add $X to it each month.

[wallynm]

Extended warranty from he manufacture with no modifications from new warranty then "YES"

Service contract from Good Sam or anyone else then "NO" hey have t many exclusions and give themselves to much wiggle room.

jbstack28 wrote:
Well got a quote from Good Sams. They wanted two arms and two legs.
Another quote from another company was just a little better. >8,000

So who got, who uses it?

Or just put the 8,000 in a savings account as precaution?

Thanks

Chuck

[gbopp]

Ask for a blank copy of the policy. Read it and learn all the exclusions.

[Ranger_Smith]

This has been discussed over and over and over and over and over. Do a search for it.

I would just put the 8k in savings. Every time I've had an extended warranty and tried to use it there was an exclusion and it was not covered.

My last RV purchase the finance manager tried to sell me an extended warranty for 24k. I asked him what he was smoking. He said we can work it right into the financing as banks like to see that . . . Wonder why 24k over 20 years is a lot of interest. No thanks.

[MarkTwain]

YES! Start a little warranty fund in your bank! You get better financial odds at Las Vegas on the **** tables than those commercial warrenties

[Lwiddis]

Did you read the terms and conditions closely, slowly and more than once?