RV Warranty Companies

[Azhoppy]

What is the best RV Warrenty company?


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[Hoopy Frood]

The local bank. Take the purchase price of that warranty and put it in the bank and add to it periodically. IMO extended warranties just have too many If's, And's, or But's to be worth the purchase price.

[Second Chance]

If you use the search function on the forum, you'll find that this question has been asked and answered many times.

My wife found a very good description of extended service plans a while back (they are not warranties, but rather insurance policies with lots of fine print). They are another form of legalized gambling. The company is betting that nothing breaks that would cause them to pay out more than you paid for the policy; you're betting it will. As in all forms of legalized gambling, the house usually wins. Otherwise, these companies wouldn't be in business or make a profit.

Dave Ramsey and Clark Howard have commented on these plans many times, too. The standard seems to be that 80% of extended service plan revenue goes toward commissions and marketing. Only 20% goes toward paying for actual repairs, which means most people are getting a really bad deal. We prefer to set money aside regularly (earning interest) and pay for repairs as they come up.

Rob

[Azhoppy]

I agree with setting aside some $$ and not buy a warranty. What about roadside assistance while on the road?


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[Second Chance]

I agree with setting aside some $$ and not buy a warranty. What about roadside assistance while on the road?


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We have roadside assistance for all three vehicles (truck, RV, car) as part of our USAA insurance policy. If you are an Escapees or FMCA member, they also offer RA plans.

Rob

PS/Edit: The Good Sam RA plan does not have a good reputation...

[JKellerJr]

I agree with the others at least in regards to RV warranties. I briefly look at them when we purchased out new unit and things like the frame and wall delamination were excluded. Those were the only parts the really interested me. Everything else is pretty easy to fix on my own.

I usually buy them for my cars and am way ahead on those purchases. I takes vary little to run up a big bill on vehicles these days. Haven't used them on every car but when I have, the repair bills far out weighed what I have paid for all of them combined.

[tjndsa]

If you do decide to purchase one, please don't allow them to add it to your amount financed and pay interest on it. As others have said, take that amount and put it in a RV savings account, add to it overt time and use it for the repairs when they are needed. This way YOU are earning the interest, even though these days savings doesn't earn much, it still puts you in a better position than paying interest on the premium.

[Jerryr]

I agree with setting aside some $$ and not buy a warranty. What about roadside assistance while on the road?


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Emergency road service coverage on my truck covers the RV when it’s being towed. State Farm premium for that coverage is only 94 cents every 6 months. It would cover towing to nearest repair facility and or labor to change tire etc.

[Wileykid]

I agree with setting aside some $$ and not buy a warranty. What about roadside assistance while on the road?


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I have Coach-Net (www.coach-net.com). I have only had to use them once for a tire blow out that I could not do myself due to back surgery. They contact a local tow company that can handle the trailer size you have, and send them.

[trailrydr]

Emergency road service coverage on my truck covers the RV when it’s being towed. State Farm premium for that coverage is only 94 cents every 6 months. It would cover towing to nearest repair facility and or labor to change tire etc.

I too agree that added cost extended warranties are crap on everything. However. I can see how the COVID rush of RVers the last few years and all the RV issue testimonials have probably created a boom market for those policies especially with newbie RVers hearing about them. And I bet the InsCos love it!

As for State Farm, they are no peach either.. a few years ago, a buddy of mine and I both had built 66 Cobra replica kit cars for around the same overall build price. Through our individual SF agents who used the same underwriter, the dif in premiums was over $1000 a year! Mine ended up being the lower one. After that and being a SF insured for over 30+ years, I started looking around. I eventually left them for USAA. Saved $2k plus a year on all my policies doing it. BTW, SF was sneaky about rate increases, eventhough they gave dividend checks and accident free on vehicles. In my research, USAA couldnt be beat. Thank goodness they dont insure "only" officers any more.