Extended Warranty

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JyllWard

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We are in the process of puchasing a 2000 National Sea View with 58,000 miles.  The dealer is of course trying to sell us an extended warranty...$4,000 for 4 years coverage.

What is your opnion in general regarding extended warranties and is this price reasonable?

Thanks for all your help, I really appreciate all the advice I get from reading this forum.
 

Ned

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Extended warranties are insurance, nothing more, and have to be looked at as such.  My opinion is that an extended warranty is a good bet for a complex vehicle like a motor home, but each person has to evaluate the cost vs. self insuring.

One tip, don't buy from a dealer, they make a LOT of money on these.  Shop around for the extended warranty.  Click the Library button above, select Miscellaneous and click Resources Database. There you can enter Warranty in the search box.
 

Gary RV_Wizard

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You should be able to get the warranty for substantially less than that thorugh an online broker.  It's safe to but that way - nearly all policies are underwritten by the same few companies anyway.  Just make sure you understand the terms of coverage, i.e. what is covered and what is not.

You want an inclusive policy - one that states it covers everything EXCEPT certain items listed in the policy. I do not recommend a policy that covers ONLY certain listed items.
 

Ned

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One correction, the policy you want is an Exclusionary policy that lists only the items specifically Excluded from coverage.  Other than that nit, Gary's advice is correct.
 

Gary RV_Wizard

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Thanks for catching that, Ned.  I meant an all-inclusive type of coverage, which in the  vernacular of these things is called an Exclusion or Exclusionary policy, i.e. it lists what is excluded. 
 

Ned

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I knew what you meant but when dealing with things legal, terminology is everything :)
 

JyllWard

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Thanks for all your advice.  I'm still not sure which way we'll go but am leaning towards a policy bought online...Warranty Experts sounds good so far.

Thanks again.
 

Ned

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We have our warranty with Warranty Experts and they have given us good service.
 

blueblood

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JyllWard said:
We are in the process of purchasing a 2000 National Sea View with 58,000 miles.? The dealer is of course trying to sell us an extended warranty...$4,000 for 4 years coverage.

What is your opinion in general regarding extended warranties and is this price reasonable?

Thanks for all your help, I really appreciate all the advice I get from reading this forum.


I think a friend of mine does it best. My father did something similar. My father put all his travel expense account money in a savings account to be used to purchase next automobile. My RV friend setup a savings account into which a set amount of money goes automatically each month to cover any repairs in the future. He has had more than sufficient funds to cover all occurrences and no deductibles.  ;D  If you can sleep well doing it this way - you might want consider it. I have had extended warranties and they never paid out any where near what I contributed and the exclusions kill you. The one that does the most damage is the years and/or miles especially for seals. Just when their likely go to go bad no insurance. Of course, that's the idea of the exclusion.    :-[
 

Kirk

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A five year old motorhome with 59,000 miles will probably not be able to get an exclusionary contract as most sellers will not write one for that use a unit. Many only do that type for new RVs.

I have an article posted on my web site about extended warranties that was published in Escapees Magazine about the choice of buying an extended warranty.
 

Ned

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We got our second extended warranty when our motorhome was 6 years old and had over 53.000 miles on it and it was an exclusionary contract.  Warranty Experts found it for us.
 

Kirk

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This past May we got our second extended warranty with the RV seven years old and 35k miles on it. Warranty Experts is who told us that most underwriters no longer write exclusionary contracts on RVs of more than five years age or 50K miles and that most only write them for new. I did buy from them and a very attractive contract. You can get a good contract if you shop carefully and read the contract carefully, even if it is of the "inclusionary" type.

And by the way, Warranty Experts do not write extended warranties at all. What they are is a broker who represents a lot of different underwriters.
 

Ned

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Kirk said:
And by the way, Warranty Experts do not write extended warranties at all. What they are is a broker who represents a lot of different underwriters.

That's correct, and why I said they found it for us.  I never said they were an underwriter.
 
A

Albslb2

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right on the monies again Kirk.  We did the same.  They've been very good to us over the years. 
Dave Gardner usually handles things for us.  Been very pleased each time.
 

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