Are you asking about actual insurance, usually called an extended warranty, or tow and tire type service, usually called roadside assistance? Most of us have both coverages, but they are quite different in cost and what they cover.
I still have 3 years of extended warranty at $50 deductible left on this 98 bucket of bolts. Wouldn't be without it, but
audrey doesn't understand the insurance factor. It's something everyone needs and hope you never have to use it.
she just doesn't understand it. Says the ins. is just an exspense. Sorry for not explaining further before.
Extended warranty contracts aren't "insurance", but they get that lable anyway. The contracts are sold on products ranging from refrigerators to motorhomes and they are extremely profitable to the companies that sell them. You'll not find an INSURER offering the contracts, tho (having been in the insurance game for 55 years) I would suggest that warranty contracts are sure to provide a much greater return than casualty insurance provides.....that is, return to the company providing the product, not the buyer.
The contracts are worded to cover specific problems and then, only when accepted and authorized by the warranty company.
Reluctantly, I confess that I, too, purchased a 4 year contract on my coach. I'm an insurance broker and I believe the odds of benefiting from such a contract are very unlikely.
From the viewpoint of the buyer, an extended warranty is like an insurance policy in that you hope not to need it, but if you have a large "loss", i.e. an engine or transmission failure requiring replacement, then it will more than pay for itself. We have an extended warranty on our 1997 motor home and have recouped most of the original cost of the warranty in the past 3 years. A few more small claims or one large one and it will have saved us money. Our policy cost about $4100 and it doesn't take much in the way of failures to run up a bill that large.
You don't have to buy an extended warranty from an RV dealer, and in fact, that's the worst place to do so. You will save as much as 50% of a dealer quoted price by shopping for an extended warranty yourself. You also want to get an exclusionary policy, one that lists only those items that aren't covered rather than an inclusionary policy. The latter lists only those items that the policy covers while the former covers anything not explicity listed as excluded. You do have to comply with any requirements for authorization before beginning any repairs, but all reputable service centers know how to deal with the warranty companies.
Ned, (and others) Where did you buy your extended warranty and/or who would you recommend
I notice Camping World offers one, Good Sams likewise, (I got the monthly magazine today) I'm not sure about FMCA but I'd not be surprised. For cars I used to have Allstate on my daughter's car. Paid for itself and then some it did when she had a few problems including a new wireing harness and some new fuel injectors and stuff.
Was kind of glad I got it.. Alas my towed (a teenager with over 200K miles on it) does not qualify for the Allstate plan (To old too many miles) but my MH is somewhat newer
Real insurance people hate to hear this said, but in most states an "extended warranty" plan or policy is legally considered to be "insurance" and is governed by the state's insurance regulations and insurance commission/comissioner. It is not in any sense a "warranty", since you must pay a premium and receive a defined benefit under certain specific conditions outlined in the policy.
Allstate did in fact offer "Extended warranty" type coverage for automobiles up to 100,000 miles, I got such a policy for my daughter's car... about 2 months before she blew her electrical harness (kind of paid for the policy)