Should I get the extended service plan

[MRiley37]

3 weeks ago I purchases a former rental class c motor home from Cruise America, Its a 2015 Majestic 30 ft. It has about 113,500 miles on it. I still am eligible to purchase the POWER TRAIN PROTECTION PLAN it cost $1,798 and covers another five years or 100,000 miles. it dose not include things inside but dose include

ENGINE GROUP
All internally lubricated parts. Crankshaft and
bearings, oil pump, fuel pump, internal timing gears
or chain/belt, camshaft, camshaft bearings, valve
lifters, rocker arm assemblies and push rods, valve
guides, pistons and rings, wrist pins, connecting
rods, exhaust manifold, and distributor drive gear.
The engine block and cylinder heads are covered
if damage is caused by failure of an internally
lubricated part.

TRANSMISSION
All internally lubricated parts contained in the
housings and torque converter. Case housings are
covered if damaged by the failure of an internally
lubricated part.

DRIVE AXLE GROUP (FRONT OR REAR)
Drive axle housing including pinion bearings, side
carrier bearings, ring and pinion gears, carrier
assembly, thrust washers, axles, axle bearings,
constant velocity joints, internal joints, internal
transaxle seal and drive axle housing, if damaged
by the failure of an internally lubricated part.

SHOULD I GET IT?????????????

[Stephen_W]

Pop the hood and remove the inside engine cover. Everything you can see is not covered...plus most everything else that is likely to fail.

[Harvard]

Check out the exhaust manifold for broken studs (specifically passenger side rear studs). At 100,000 miles I will bet they are already broken and not covered.

[derh20]

This thread reminds me of a couple things. I purchased an extended warranty on a new pick up years back only to have them declare bankruptcy a couple years later. Then after some research found that was common. 2 years ago i purchased a new Ford C-Max with an extended warranty. Got home, read the contract and it stated the items the warranty covered and then stated it would not cover any issues not mentioned. I cancelled the policy. I would have kept it if it stated what was not covered and then said it would cover anything else. Read the contract carefully.

[klutchdust]

Self insure. These engines are not your grandpas. Today's Ford V-10 will easily go 300K with regular maintenance using quality products. Very few need internal engine repairs, very few. Water pumps and engine coils seem to be the items needed.

[VA-Apraisr]

Noted the WATER PUMP was not in the list of covered items?? My son was purchasing an new Z06 Corvette and looked at their premium coverage plan and the water pump was NOT on list! I told them if that fails, the motor could overheat and damage the engine. Sales agent just looked at me and said well it's not covered for that. Your plans states "lubricated" things (ie: oil/trans fluids), so, guessing you would be OUT OF LUCK if your engine overheats and causes damage! I'll bet the radiator was also not covered. They will use every little trick and wording to NOT PAY for what really happens in the real world. I'd save your own $$$ for any issues!!

[jjrbus]

I am 71 I bought one extended warranty in my life. That was when I was young and not very knowledgeable.

This is called being self insured. When I have a claim I do not tell myself I will pay for the $9 part but not cover the $700 labor or shop rags LOL

[Grit_dog]

DrewE wrote:

Hank85713 wrote:
its a **** shoot. We bought a 1 year old winnebago aspect with 4000 miles on it. I did buy the extended warranty stuff from camp world and 2 years later had a fuel pump go out and they paid almost all except for $700 worth. They did the tow, the roadside call etc. So it really is your call. check with camp world on their extended service plan 1st to compare.

it also covers tires?? I really dont know. Like most I dont buy these things but worked out I guess in long run.

Tires were not listed in the post. I don't think any extended warranty would cover wear items like tires (or brakes or belts or hoses). Even a standard new vehicle warranty doesn't cover tires, which rather come with a separate warranty from the tire manufacturer.

If we take the fuel pump as an example, the poster in this case would be $1000 ahead to skip the extended warranty and pay for the fuel pump out-of-pocket. On average, these--like any insurance policy--will end up costing more than taking care of things without insurance, since no insurance company will survive by paying out more on average than they take in. The whole point of insurance is not to save money, but rather to make sure that the total money spent is within what you can afford--that is to say, to pay a little more all the time so as to never have to pay a whole lot more in an unlikely scenario.

The basic powertrain components the poster's warranty lists as covering are basically those things that very rarely break down on their own absent extraordinary abuse or neglect. Parts subject to wear and breakdown, like brakes and suspension parts and exposed universal joints and electrical system stuff, aren't covered.

My recommendation would be to skip the insurance in this case and perhaps instead put the money aside for whenever maintenance or repairs are needed. Money in the bank doesn't carry the same exclusions on coverage.

And if "all but $700" for a tow and a fuel pump (which is a cheap part and relatively easy repair on a gas engine) seems like you got a good "deal" then warranties are good for you to help protect you from getting totally fleeced on a repair.

[Grit_dog]

Personally I would have spent a bit more on the RV and bought one that wasn't driven like a rental, literally.
But, this is flip a coin, 50/50 shot at best that even a seemingly warrantable item will be covered. Know the rest of the fine print, as the covered "parts" are strictly internal hard parts and there is a real chance that there is langauge in the policy that voids coverage due to damage caused by components that aren't covered. IE: trans cooler line breaks and dumps fluid and the failure of the internal lubricated parts ( the trans) is considered consequential damage due to failure of a part that isn't covered.
Not saying this particular thing is a prominent issue, just an example.

From someone who understands vehicle mechanics, I wouldn't even consider spending money on a warranty on a vehicle that has no business having a warranty any longer.
Although you may not be mechanically inclined, you should be astute enough to understand the risks you're taking and not gullible enough to realize there's no free lunch.


Of course if everyone was, then these aftermarket warranty companies wouldn't exist...

[DrewE]

Hank85713 wrote:
its a **** shoot. We bought a 1 year old winnebago aspect with 4000 miles on it. I did buy the extended warranty stuff from camp world and 2 years later had a fuel pump go out and they paid almost all except for $700 worth. They did the tow, the roadside call etc. So it really is your call. check with camp world on their extended service plan 1st to compare.

it also covers tires?? I really dont know. Like most I dont buy these things but worked out I guess in long run.

Tires were not listed in the post. I don't think any extended warranty would cover wear items like tires (or brakes or belts or hoses). Even a standard new vehicle warranty doesn't cover tires, which rather come with a separate warranty from the tire manufacturer.

If we take the fuel pump as an example, the poster in this case would be $1000 ahead to skip the extended warranty and pay for the fuel pump out-of-pocket. On average, these--like any insurance policy--will end up costing more than taking care of things without insurance, since no insurance company will survive by paying out more on average than they take in. The whole point of insurance is not to save money, but rather to make sure that the total money spent is within what you can afford--that is to say, to pay a little more all the time so as to never have to pay a whole lot more in an unlikely scenario.

The basic powertrain components the poster's warranty lists as covering are basically those things that very rarely break down on their own absent extraordinary abuse or neglect. Parts subject to wear and breakdown, like brakes and suspension parts and exposed universal joints and electrical system stuff, aren't covered.

My recommendation would be to skip the insurance in this case and perhaps instead put the money aside for whenever maintenance or repairs are needed. Money in the bank doesn't carry the same exclusions on coverage.

[Hank85713]

its a **** shoot. We bought a 1 year old winnebago aspect with 4000 miles on it. I did buy the extended warranty stuff from camp world and 2 years later had a fuel pump go out and they paid almost all except for $700 worth. They did the tow, the roadside call etc. So it really is your call. check with camp world on their extended service plan 1st to compare.

it also covers tires?? I really dont know. Like most I dont buy these things but worked out I guess in long run.

[bobndot]

Lwiddis wrote:
No insurance company offers any RV policy where there is a high chance of valid claims.

Exactly 🙂 They would not be in business if it wasn't in there favor.

Why would anyone buy something where its not in their favor to buy it ?
The person offering it to you doesn't own the extended warranty service contract company does he ?
NO, that's because that person is getting a commission as a salesman so the company can gain a profit.

I self insured myself back in 1988 by investing the face amount of money that people offered me to purchase extended warranties. All that invested money in that acct would have belonged to salesmen and service contract companies. Now its all mine. $ $$$,$$$ I have only had to use this acct 3x since 88' to make a repair that would have covered by one of those contracts. They are finely worded contracts with lots of wiggle room.

[jdc1]

Does it include the wire harness? Fuel injector pump? Injectors? It's gonna be an electrical mishap that kills that motor. The motor, trans and running gear will last 200,000+ miles. Your radiator will blow. A hose will blow. The trans cooler will blow. Then they'll say it's not covered because it was caused by...... Been there. I bought a dealer service contract for an 01 CTD. It covered all but......

[gbopp]

If it does what it says it does, it would be worth buying.
Ask for a copy of the policy, read it and understand ALL the exclusions. You may be surprised to see what is not covered.

[DownTheAvenue]

The reality is what you will likely experience is repairs on items not covered by that warranty. Engine gaskets, alternator and power steering pump, and items other than "internally lubricated" engine parts. Likewise with the transmission. Having said that, you own a 5 year old heavy duty vehicle with 113,000 miles on the clock. It would be very tempting to purchase. Before you do, read and understand the actual policy, not the sales brochure. Many times you have significant requirements to get them to pay. Often you are responsible to take it to their repair facility which can be hundreds, if not thousands, of miles away. A wrecker bill could far exceed the cost of repair. Also, understand this is an insurance policy, not a warranty. Are in a financial position to pay for a repair that may cost several thousand? Or if you had to make a several thousand dollar repair would that put your RV out of service until you could save up that money? Remember you never insure anything that you can easily replace yourself. That is why you buy insurance for your house but not your toaster!