Service contracts
How many has had a service contract or extended warranty on your class A and if so did you find it worthwhile? They seem to be very expensive.
Forum Discussion
If you stop to think about it, ALL "insurance policies" are sucker bets! YOU are betting you will have covered expenses enough to get your premium (and then some) back. The insurance company is betting that they will get your premium(s) and never have to pay you anything.
The insurance company always makes a profit. ALWAYS!
Having said that, I must admit that I have purchased such "Service Contracts" or "Extended Warranties" in the past. A couple of times I won the bet, but most often the insurance company won, paying out half or less of my premium over the life of the contract.
Was it worth the PEACE of mind to have the contract? Yes, I think it was. In fact, I found myself wishing I would have had one on the truck, with $100 deductible, when the overdrive gear fell off the shaft in the transmission while visiting Nevada a few weeks ago. $100 out of pocket would have been much better than the $600+ that it cost!
The insurance company always makes a profit. ALWAYS!
Having said that, I must admit that I have purchased such "Service Contracts" or "Extended Warranties" in the past. A couple of times I won the bet, but most often the insurance company won, paying out half or less of my premium over the life of the contract.
Was it worth the PEACE of mind to have the contract? Yes, I think it was. In fact, I found myself wishing I would have had one on the truck, with $100 deductible, when the overdrive gear fell off the shaft in the transmission while visiting Nevada a few weeks ago. $100 out of pocket would have been much better than the $600+ that it cost!
