RV-Warranty- Solid investment or Waste of Money?

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ARVW-CJ2019

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Mar 7, 2019
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Hey Guys-
Me and my father have been looking into purchasing an RV for a long time now and its finally coming into place.  One of our biggest concerns was the fact of how expensive they are when looking to purchase but also unexpected repair costs or being stranded on the side of the road with no help. 

Now my Dad has been a believer in warranties his whole life.  From the extended warranty when making a purchase on an electronic device all the way to a Home Warranty on his residence.  The idea of protection from unexpected repairs costs always sounds enticing and reasonable but as I've seen and heard not all of them are what they are thought to be. 

I was told that there is actually a market for RV Warranties that cover not only the mechanical parts in the engine but coverage on the things inside of a standard RV.  I also understand that they can be a bit pricey so i am honestly trying to weigh the pros and cons and also gain some feedback from people who have had one and their experiences with them. 

Any info would help and look forward to hearing from everyone! 

Have a great day !!

Chad
 

Roy M

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Extended warranties are a big money maker as they are expensive and seldom get honored. Make a payment to yourself each month in a no touchee account, IF and when a problem arises you are covered.
 

coxid

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X2 on the NON WARRENTY

Open an account (interest paying) in a bank across the street from your regular bank, EACH month deposit the amount of the monthly premium. Then pay cash out of that account and you will come out $$ ahead. Remember that the insurance Co. is not giving you anything THEY have to show a PROFIT to pay their employees and stock holders.
 

Isaac-1

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It is insurance, you are betting there will be a problem, they are betting there will not be.  It is also distributing risk, in case you draw the short straw and have an engine go boom.
 

IBTripping

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You need to carefully read any extended warranty offered as most contain a lot of exclusions and/or specific steps and timelines that must be met. Also, check to see if you must take the RV to the dealer who sold it to you for warranty service. Might be hard to do if you are 500 miles from the dealer when you have a breakdown.
 

Gizmo100

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I'm not a fan of any extended warranty....That said I do most of my own repairs on our home, RV, and sometimes even our cars.
 

G.C.S.

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Save Your Money. Warranties are a money maker for dealerships. like mentioned above put money away into savings. If you do regular maintenance and be proactive you will be fine. Buy used and save yourself the 40% hit off the lot. RV's re not worth the money. They are all a money pit. Its all about Quantity and not Quality. If they don't get the screw at the extension of the arm on the line, they don't get it. If your not mechanically inclined you need to be unless you have very deep pockets. I have talked to MH Owners from $500k to 2 Million Dollar coaches, and they all break.
 

Back2PA

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While in many if not most cases I agree with what others have said, I will offer an alternative opinion. On my previous rig (Newmar Dutch Star) which I purchased when it was a little less than 10 years old, I bought a 3 year all inclusive warranty - cost $5K. During the warranty period the company covered over $8000 in repairs, never once denying a claim I felt was justified, and in fact covered one item I was certain would not be covered (arguably an issue due to the previous owner's failure to perform maintenance). So indeed there are reputable companies out there that stand behind their contracts, but even then one must be very familiar with the contract so as to know what is covered and what isn't.


I bought the contract because there were items on the coach (a diesel pusher) that would have been a financial hardship to fix had they broken (engine, transmission, etc). Even if it would be painful (but doable) to fix a catastrophic failure, if you can afford to fix it you probably shouldn't buy the warranty.
 

Gary RV_Wizard

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It's insurance, not an investment.  A way to share the risk of [potentially] expensive repairs with other RV owners.  If you have a lot of problems that are covered by the policy, you do well financially. If not, you lose.
If you are expecting to make money on an extended warranty, odds are you will NOT.  The insurer has statistics that predict how much the average RV costs to repair over time and adjust the premiums accordingly, also including his costs of administration, claims handling and a substantial profit margin.
 

Dragginourbedaround

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Lots of discussion on extended warranties. Like gas vs diesel or staying at walmarts. Strong opinions on both sides. I have an extended  warranty and have been happy with my policy, and saved lots of money. Not everyone gets screwed.

http://www.rvforum.net/SMF_forum/index.php/topic,111189.msg1003473.html#msg1003473
 

kdbgoat

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I feel if you want an extended warranty/insurance, do as stated above, check the policy carefully, find out exactly what it covers and what it doesn't. Maybe a lawyer friend will go over it with you to clarify the wording. If I had a diesel pusher or an older diesel pick up out of warranty for towing, there's no doubt in my mind. I would be researching and buy the warranty. Travel trailers, older fifth wheels, older class C, & class A that doesn't have a lot of costly electronics, I wouldn't bother. Items that are high dollar are things like the hydraulic systems for levelers and slides, diesel engines, transmissions, electronic systems, etc. It's easy for folks to say " put the money the warranty will cost in the bank and use that for repairs". Everybody may not have that kind of cash laying around, and $5,000 won't cover a $30,000 engine replacement or a $10,000 transmission replacement. I've read too many instances where folks have been glad they had the warranty, and where the warranty has worked out well for them. I've also read where folks were dissatisfied, but that was mostly because they didn't fully understand what the policy covered. Personally, I feel folks making a blanket statement that they are a waste of money are wrong in doing so.
 

clockdrfla

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If buying new I would say no but definitely yes on a used rig with no remaining warranty. The contracts are quite lengthy with some exceptions so if you are considering purchasing one ask to take a copy home to read and study before signing.  Read it thoroughly and make sure you understand what is covered and if there are any exclusions on major items.  Very important.  I purchased one and would do it again.  Good luck. 
 

timjet

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Well, here's my experience. I bought a 10 yr old DP and had it inspected, both chassis and house prior to purchase. I investigated warranties and my cost for the first year was around $4000. I felt since I had it inspected and everything was brought up to speed I didn't need the warranty. After the first year of ownership I paid just about that $4000 in repair costs that included almost replacing the entire dash air and replacing the inverter/batt charger plus a few other minor things.

I'm a pretty handy guy and I can fix most things. I did have a pro do the air conditioning repair and I replaced the inverter. For me I'm glad I didn't get the warranty because I would have had to go through the hassle of filing a claim and hoping for payment. So for me it was a wash but if you aren't handy or don't want to work on the rig yourself, take that into consideration when deciding weather a warranty is worth it.

However if you bought the rig new, it comes with a warranty. I'm not sure how you would gain from buying an extended warranty but some people do. My wife bought an extended warranty on her new '06 Nissan Mirano for $800. Never used it.
 

SeilerBird

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The best thing about an extended warranty is the peace of mind. My GF bought a DP and paid $3500 for an extended warranty. Within the first six months it had paid for itself with over $4000 in repairs. The electric motor on the awning was a $500 motor before installation. RV repairs can be very expensive.
 

UTTransplant

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Remember that the warranty companies wouldn?t be selling them if they didn?t make them money. The way they make that money is charge more than the average person would have in covered repairs. If you are the majorrity person with less repairs than the cost of the warranty, you lose. The small number of people who have repairs more than the cost win. It comes down to whether you can self-insure if something big goes wrong. The warranties are generally thousands of dollars. If you put that money in the bank, could you come up with enough additional to cover a big repair if you have bad luck?
 

scottydl

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All good advice above!

ARVW-CJ2019 said:
Now my Dad has been a believer in warranties his whole life.  From the extended warranty when making a purchase on an electronic device all the way to a Home Warranty on his residence.  The idea of protection from unexpected repairs costs always sounds enticing and reasonable but as I've seen and heard not all of them are what they are thought to be. 

Indeed. And if you dad figured the over-under on his lifetime of extended warranty purchases, I bet he'd find that he has overpaid and underused them in general. That's why warranty companies continue to exist, i.e. they are making money.
 

Dragginourbedaround

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For me I'm glad I didn't get the warranty because I would have had to go through the hassle of filing a claim and hoping for payment.
Only one time out of many did I have to file a claim. It was for a mobile repairman that wouldn't accept my extended warranty. That claim was approved over the phone same day. Other than that I was never involved in the process. Just gave the repair facility or mobile service the phone contact to call and they took care of everything.

It's easy for folks to say " put the money the warranty will cost in the bank and use that for repairs". Everybody may not have that kind of cash laying around, and $5,000 won't cover a $30,000 engine replacement or a $10,000 transmission replacement. I've read too many instances where folks have been glad they had the warranty, and where the warranty has worked out well for them. I've also read where folks were dissatisfied, but that was mostly because they didn't fully understand what the policy covered. Personally, I feel folks making a blanket statement that they are a waste of money are wrong in doing so.
Amen
 

bigfatguy

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Mar 6, 2013
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On televisions and toasters, I never get the warranty.

On both my cars, I got the warranty, and have never gotten much use out of them.

On my RV, my extended warranty has already earned it's cost-of-ownership back.

RV's break a lot, and the mfg's warranty is usually timed to expire just before the stuff really starts breaking down.
 
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