Extended Warranty

[Puffyschuff]

I was wondering what people thought of when it came to purchasing extended warranty on travel trailers.  We bought a new trailer this year and of course, the RV dealership offered to sell extended warranty.  I said I would think about it.  The trailer has two slides, full kitchen and washroom.  I am just wondering what type of things are "common" to go wrong and if extended warranty is worth purchasing.  We do plan to keep the trailer for a long time and I plan to keep it well maintained but I do understand that sometimes things happen.  We will probably use the trailer 8 to 10 times a year with most of the trips being weekend long and one or two week long trips.  We have inside storage for the winter.  Has anyone purchased extended warranty and used it?

 

[Marc L]

It depends.  Most appliances have their own warranty that is longer than the trailer itself.

It's cost VS risk.  It's like insurance.  In order to make money selling the extended warranty, the company that offers it has to pay out less in repairs than they collect with the sale of the warranty.  So that puts the odds in their favour.

You'll hear various testimonies:
- I did not buy it and did not need it
- I bought it and it paid itself with the 1st repair
- I did not buy it and wish I did
- I bought it and nothing went wrong

I personally prefer to not to buy it and keep the money for something else, and assume the consequences if something goes wrong.  If I factor in the cost of all the extended warranties I declined VS my repair costs over the years, I would venture to guess I'm ahead.

 

[Ned]

Personally, I wouldn't buy an extended warranty (more correctly called an extended service policy) on a trailer.  We do have one on our diesel motorhome but primarily because engine and drive train repairs can be very costly.  We have collected several times on ours over the years.  Take the money that you would spend on the policy and put it in a savings account for use when you do have non-warranty covered repairs.

And a minor correction, it's not "like insurance", it is insurance.  And like most insurance policies, we buy it hoping to never need it.  If you do decide to buy a policy, don't buy it from the dealer.  You can get the same coverage much cheaper by shopping it yourself.  See our Resources section for an excellent article on this topic as well as some sources for coverage.

 

[sheltie]

Ned,

I was able to open all the sites recommended on Gary's article except Warranty Experts.  I also tried their web site directly and got the same message (unavailable).  Do you or anyone have any current info about this company?

Denny

 

[Ned]

Due to numerous reported problems with Warranty Experts in the past, we no longer recommend them.  I suspect they may even be out of business now.  We'll take care of the broken link, thanks for reporting it.

 

[Gary RV_Wizard]

Brokers for repair insurance come and go and links embedded in an article get out of date. The insurance companies mostly stay in business, so the policy is still good if you have it.    If you Google 'RV extended warranty' you will find dozens.

I do not recommend an extended service plan (insurance) for a trailer. There aren't enough expensive repairs that would be covered to make it worthwhile.

 

[Tom]

Yep, link removed.

 

[bailer6334]

As everyone has said, this is NOT a extended warranty. Its a insurance policy. It's not like a extended warranty on your automobile. If you decide to purchase one get the actual contrac.t Not the sales brochure. Note: Most require you do required maintenance, per the manufacturer and keep all records to keep insurance valid.

 

[sheltie]

Due to numerous reported problems with Warranty Experts in the past, we no longer recommend them.  I suspect they may even be out of business now.  We'll take care of the broken link, thanks for reporting it.

This is "interesting" because I've had a contract with them for six years.  During that time, every time I needed work to be done I was reimbursed.  My policy is still good until early next year and I haven't received any notification that they are closed, although I did a search and one site did say they are closed.  I'm just getting ready to go on a 5,000 mile round trip drive and this might be the wrong time not to have coverage!  Oh well.  Guess I should give them a call and see if anyone answers.

 

[Ned]

Warranty Experts was an agent, not the actual insurance company.  They sold several different policies.  We had one from them and also had every valid claim paid, although not always timely.  It was the agency that got into trouble, however, not the insurers.

 

[sheltie]

Warranty Experts was an agent, not the actual insurance company.  They sold several different policies.  We had one from them and also had every valid claim paid, although not always timely.  It was the agency that got into trouble, however, not the insurers.

Yep, after my phone call to them (no answer) I tried the insurance company and got them.  Here's an interesting note to people who get these things.  VERY important to read the fine print as I thought I had - not.  I got a seven year policy when my MH was one year old and thought I had another 10 months to go.  In the fine print, it was pointed out to me a few minutes ago, the contract starts at the in-service date.  So right now no coverage on my MH although I'll rectify that in a few minutes.

Just so you know in your "resources" section, United States Warranty and Motorhome Warranty are the same company.

 

[Puffyschuff]

Thank you everyone.  I have generally been against "extended warranties" but since I really don't have any idea what repairs on a travel trailer can cost, I wasn't sure if they were worth it.  Plus, with the two slides, I wasn't sure if there tends to be issues with those down the road.  Thanks again!

 

[Coach_Frank]

Hi Puffy,

My thoughts on insurance is; if you can afford to fix a major breakdown (2-3 thousand in repair) then don't get it.  But if a major repair would cripple your budget then you should consider it.  Good luck.

 

[4ducksrus]

I think the Coach has a valid point.  I have friends who are "millionaires" and don't carry insurance on anything...me on the other hand, have insurance on everything!  My DH doesn't like to work on our MH, so we have purchased an extended warranty, plus a major breakdown would cripple us!  I would suggest just doing your homework and seek out the best price and coverage for your $$$.  Just my opinion.... ;D