What do you think about extending a RV Extended Care Service Contract

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Rene T

Rene T

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I believe I know what you're going to say. A little background first:  We purchased out 5vr almost 3 years ago used and also purchased a Extended Service Contract with Easy Care for $1700.  As it turns out, we are making use of the contract right now. My black water tank has a very bad leak like it may be cracked on top and it's in the shop right now. Also I have a issue with the large living room slide. So I'm figuring I'll just about break even by the time they get done fixing the tank and slide.

Today, I received a letter in the mail wanting me to renew my contract. For 4 more years, I could get it for $3318. I'm thinking it's not worth it. The way I see it, the most expensive item which could go bad would be the fridge. If it did, I plan on replacing it with a residential fridge.
 
My question is do any of you think it would be worth it to spend over $3000 for 4 years of coverage? I think I could make a lot of repairs for $3000.   
 
Put $100 a month in a savings account and you'll have $4800 at the end of 4 years. That should cover any repairs.
 
I would have sprung $1,700 for three years as well, but I'm thinking no for 3 grand. If you haven't broken it yet, what are the odds?
 
I had a service contract before on a different rig. In the long run, I lost money. Sometimes peace of mind is worth it to some folks, but I doubt I will buy one again. I tend to view service contracts like any insurances that I have.  I am betting that I will have a need for it, and the insurance company is betting that I won't. Which ever way it goes, I still lose!
 
I feel strongly both ways.

For a fifth wheel or TT it's probably not worth it.  (I'm sure you can get a better price if you shop around)

But for a motorhome, especially a diesel, where a single bad fuel injector can set you back thousands the odds are a little more in your favor.

Our last contract with EasyCare saved us money (I.e. They lost).  We renewed and are well on our way to breaking even in just over a year.  And that's with me doing some of the minor repairs myself.

Since we renewed we've had :  slide brake failure, leveling jack failure, wheel bearing seal failure, transmission seal failure and probably a couple other items I'm forgetting.
 
8Muddypaws said:
For a fifth wheel or TT it's probably not worth it.  (I'm sure you can get a better price if you shop around)
But for a motorhome, especially a diesel, where a single bad fuel injector can set you back thousands the odds are a little more in your favor.
Click to expand...
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In just 9 months I've just about broken even on my 3 year policy, but  everything so far has been chassis related, so on a fiver wouldn't have been worth it
 
All I can say, Rene, is that I did NOT renew my 5-year policy when it expired. The price increased dramatically and I felt the odds were that I could pay for any necessary repairs myself, especially since I can DIY many things.  But as with any insurance, it's a crap shoot. It all boils down to guessing the likelihood of a $3000 repair job. IMO, trailers don't have many of those, or at least not many that such a policy might cover.
 
As I stated in my original post, I had the feeling what the answer was going to be.  Thanks everyone for your input. It just reaffirmed my thinking that it's not worth it.
 
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