Any thoughts on buying extended warranties for new trailers?

Hello,
We just bought a new travel trailer.  It is our first attempt at rving.  We were offered a 7 year extended warranty from XtraRide Platinum for $1995.  I was wondering if anyone has thoughts on the need for an extended warranty and if this company is known to be a good option.  They are supposed to be endorsed by the RVDA, if that makes any difference.  I have heard that extended warranties on things (not specific to RVs) are not recommended, so I wanted to just see what advice could be offered regarding this additional purchase.

Thank you so much for any information.

Here's an article in our forum Library on Extended warranties.

It's a crap shoot. For the most part, extended warranties are a waste of money. BUT, if you happen to buy a lemon, it can come in handy. Does the warranty cover the particular issues beyond the manufacturer warranty you may deal with. Good question, right?
Keep in mind. It's really not a "warranty". It's a service contract extended beyond the manufacturer warranty.

$2K in repairs over 7 years is not a bunch. However, being an "off the showroom floor" RV with a warranty, I would read the fine print very carefully before signing that contract.

Hi drdzem. I would not recommend buying an extended warranty for a travel trailer. They don't have drive trains that can be really expensive to repair, and many RV appliances that may be covered by an extended warranty are relatively inexpensive to replace. The deductibles of some extended warranties can actually be more expensive than buying a new appliance. Many other RV trailer problems can also be repaired fairly inexpensively if they're caught early enough. Just my two cents.

Kev

If you are handy, don't waste your money.
  I have had three new trailers in a twenty year span, and nothing has broken or been defective that I couldn't take care of myself.
Do the maintenance according to your manuals and inspect all the exterior seams and the roof periodically

Jack L

Add your deductible to the premium.  That's your break even point if you have one major loss.  Not sure what would go wrong that would be possibly $2,000 plus deductible.  Remember your deductible will apply to every loss so it will be your nickel for minor items regardless.

We owned a brand new travel trailer for 5 years.  Had a few issues in first year which were covered under factory warranty.  After that there was nothing of any consequences.  Put the money in the bank and do your maintenance. 

They wouldn't sell them if they weren't making money....

I will temper that by saying if you can't fix 90% of the PIA problems, the peace of mind may be worth it.

Put the $1995 in your gas tank. Trailers are pretty problem free compared to motorized RVs.

Your responses have been really educational and helped our family to make a much more informed decision.  I would say that we were pretty set to buy the warranty.  But, here's what I've learned from you all:
1.  If you buy new, likely much of the large issues will be solved by the manufacturer's warranty. 
2.  The places where the warranties are most needed are where there may be mechanical problems, and the travel trailers obviously don't have an engine. 
3.  If you are handy with your hands, you can take care of a lot of those items yourself for a lot less.  The scare tactics are obvious--2500 for a new RV refrigerator--but that's with the jacked up price the dealer charges for the unit added to the insane labor charges.
4.  The deductible is important and will quickly add up.  They didn't really go over the deductible with us, so I think we assumed it was more like other extended warranties where you buy the product and they fix the item.  As it turns out, there is a deductible...
5.  A great suggestion was to ask for the contract ahead of time to look over the small print.  They wouldn't give it to me.  RED FLAG

We couldn't' have made a good decision without your input.  To be fair, I realize--especially after reading the article that Tom sent below--that they beneficial sometimes.  However, in our case, it would likely end up being something that probably didn't' pay off in the end.  Thanks to all of you for taking the time to give your input.  I really appreciate it.