I would like some advice about extended warrenties. Are they really worth the $$. Also what to look for in a warrenty and are there any company suggestions to get one from. If it is like most others that I have bought in the past everything works until the warrenty expires. Thanks for any help out there.
extended warrenty
- Thread starter wakeboy
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Tom
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Click the Advanced search link above and search on "extended warranty" and separately on "extended warranties" (with quotes) to see numerous prior discussions on this topic.
Gary RV_Wizard
Site Team
An extended warranty is an insurance policy - it is designed to collect more in premiums than the company pays out in repairs. Therefore most people will pay in more than they collect from it and would be better off putting the money in the bank and paying for repairs out of their own pocket. But if you should have a major problem (engine, transmission, refrigerator, etc) you would tank your lucky stars if you had an extended warranty. Only you can evaluate the risk and the reward - and your own level of comfort.
Many people get shocked when they learn that "everything" is not covered - they did not read all the fine print or the procedural requirements for collecting on repairs. Maintenance is not covered, including all normal wear items. Failures caused by outside influence or other failing parts are generally not covered - if you break a fan belt (maintenance item) and the engine overheats and gets damaged as a result, your engine repair will NOT be covered. Awnings and fabrics and paint and trim are generally not covered. Some policies may exclude all electronics or other categories of equipment, so make sure you read and understand before you buy.
Many people get shocked when they learn that "everything" is not covered - they did not read all the fine print or the procedural requirements for collecting on repairs. Maintenance is not covered, including all normal wear items. Failures caused by outside influence or other failing parts are generally not covered - if you break a fan belt (maintenance item) and the engine overheats and gets damaged as a result, your engine repair will NOT be covered. Awnings and fabrics and paint and trim are generally not covered. Some policies may exclude all electronics or other categories of equipment, so make sure you read and understand before you buy.
Thanks, those were my same thoughts. Its just good to hear from someone with more experience.
I have read a little on the policy that was given to me and it is funny how a 7 year policy only cover some things only as long as the manufacturer covers them. I will just keep the doe.
I have read a little on the policy that was given to me and it is funny how a 7 year policy only cover some things only as long as the manufacturer covers them. I will just keep the doe.
Dave Stringham
Well-known member
I bought a 10 year old coach from a dealer. I paid $5,000 for a 3 year 36,000 mile extended warranty. It covers the electrical, engine, tranny, awning, appliances etc. It does not cover maintenance items (brakes, tires, belts). In my situation, not knowing how things were taken care of and or serviced prior to my owning the coach......I felt this to be a good investment. I would have hated to have left the dealer, gone down the road and then have to pull into Cummins for a new motor and have that come out of my pocket.
I think one has to examine his own exposure and figure out the best bang for the buck.
I think one has to examine his own exposure and figure out the best bang for the buck.
