Help with extended warranty decision

[garbagecop]

Hi all,

I'm new to this board. My hubby and I just purchased our first pre-owned coach. We've owned new, but needed to buy used to step up. We think we got a very clean coach, but we believe we need a warranty. By the way it's a 2003 Holiday Rambler Scepter, diesel engine. We live in Minnesota.

So I've narrowed it down to two, but I'm completely stumped as to which one to choose.

The dealer offered us XtraRide by Protective Group. It's fully insured with our state. They say it's exclusionary, but if that's the case, why do they list both covered and not covered components!? It has a 24/7 conceirge service that could be extremely helpful if we're sitting on the side of the road...which includes tech support to help us trouble shoot any mechanical, electrical, etc. problems. I contacted an independent warranty specialist who offered the same program on his "short list" as being a premiere program...(true? hype?). On a 4 yr/48,000 mile program (their Platnum program w/o optional Wheel & Tire) with a $200 deductible, the dealer offered it for $4,400 and the broker for $3,944. If I chose this route, I would make the dealer match.

The other program is the CSP program from Good Sam. It's easy to trust a program that is endorsed by such a large organization...but I'm smart enough to realize that royalties play a big part in that sort of thing. Doesn't necessarily mean the program is better...or even that good. This program is also fully-insured in my state, and it's supposed to be exclusionary. But again, they also list both covered and not covered components, which makes you wonder what's missing. The quote for Premium Gold program with a $500 deductible is $1,051 per year (or $1,392 for a $250 ded.). Here's the interesting part. It's annual. You can insure the rig up to 16 years old, or up to 150,000 miles.

Price-wise, they come out to about the same price for 4 years. We have never kept a rig longer than 4 years, and I really can't say whether we'd keep this one longer, either. But it's 5 years old already, so the fact that we could go longer is very enticing. So is the fact that I would ONLY have to layout $1,051 right now after desecrating our bank account for the trade difference! But I don't want the cash outlay to be the deciding factor.

Do any of you have diesel rigs and use either of these programs? When coverage is close, how do you decide? I would appreciate any insights you may have about these warranties.

Thank you so much,

Lynn O. Minneapolis, MN
garbagecop@gmail.com

 

[Kirk]

Re: Help with extended warranty decision

The only one of the two that I am familiar with is the CSP from Good Sam. I have not owned one of them, but I have heard good reports from them. I have now had two different such contracts on our present RV. I had very good service from both of them. It is important to remember that you only save money whey you buy one if you have major problems. But the value in it comes from the protection in the event of a major disaster. The other nice thing is that some of us sleep better with knowing that we will not be caught short if the worst should happen. What they really are is a health insurance policy on the RV.

If you would like to read an article about the choices of such contracts which was published by Escapees magazine, you can visit this link.
http://www.adventure.1tree.net/rv-living/finances/rv-extended-warranties

 

[DL Rupper]

Re: Help with extended warranty decision

The Good Sam is probably the safest way to go. They can't afford bad PR. They are too big of a RV organization to hassel you or not honor their contract. Make sure eveything you want covered is on the contract. If you decide to sell early you won't need to try to get a refund if you go year-to-year.

 

[dennis1949]

Re: Help with extended warranty decision

I have been checking on a extended warranty on my 5th wheel. I have decided not to with one. Main reason is Consumer Reports says they are not worth the money

 

[DL Rupper]

Re: Help with extended warranty decision

Hey Dennis, I would never get an extended warranty on another 5th wheel. I did get one on my HitchHiker and only got $500 worth of repairs for my $1200 warranty. It was on the loan so I probably paid $1500 for it.

Just between you an me, the 5er's don't have near as many problems. No drive lines, motors or big front windows. All of the appliances in a 5er have their own warranties with the original equipment manufacture that are usually good for the first 3 years. If you have any structural problems with a 5er they will usually surface in the first year when they are under the RV manufactures warranty.

 

[C Nash]

Re: Help with extended warranty decision

If the insurance companys were not coming out ahead they would not sell extended warranties. All of what DL says is true but the same holds true for the MH. Does not the vehicle that has to tow a fiver have to have a motor, trans, differental and tires :laugh: . Oh well the w/shield is bigger in the MH so to better see all the sights but, I have had to replace both sides. Think a Dogde I was meeting threw up a gravel. Like Kirk said it's just a health insurance of the rv and can help you sleep better. If you have the money in a bank that would be better insurance IMO.

 

[garbagecop]

Re: Help with extended warranty decision

Thanks folks. I appreciate the quick responses. People are much "gentler" on this board. Elsewhere, people are chiding me for even thinking about wasting my money. But as you've already pointed out, it's great to have if fate decides to strike! I'll not make this decision lightly.

Lynn O.

 

[C Nash]

Re: Help with extended warranty decision

Lynn, there is nothing wrong with having the extended warrantys just be sure and know what they will cover and the procedures for filling for work. Do your homework as you are doing and choose the right service for your needs. With the price of todays repairs engine failure, transmission failure could be a terrible blow to the pocket book and require financing in most of us. I have had health insurance all my life and would have fared much better if I had put the money in the bank but no way would I be w/o it. One trip to hospital could ruin you for life. Guess we could just leave the rv and let the bank have it back

 

[vanole]

Re: Help with extended warranty decision

Lynn,

I have had and extended warranty on both M/H's I have owned. One refrig claim so far and it paid for itself. There are two types of these warranties if my memory serves me correctly when I was shopping around. The type you want is the one that spells out exactly what is NOT covered.

I seen your post on the other board and yes most of the responses were harsh. I was going to PM you but figured you would think I was some darn nut case. Its one thing for the folks to say pocket the money and go it alone it is another when presented a bill for 4-5K snf you dig into the empty pockets or your vacation fund. Talk about a damper on the RV experience.

I wish you success in your search.

Very Respectfully,
Jeff

 

[LEN]

Re: Help with extended warranty decision

I feel there's a big difference in a policy for a 5er or a TT than for a MH. If were me on the first two I would pocket the $$$ and gamble but for a DP I have Good Sam. I have the policy that just about covers it all for two reasons. One I purchased used as you did and I can afford(like it or not the $1000 hit) but if I loose a motor or transmission I'm hurting. Plus one other thing. If I were younger I might risk it as well but now my work time is for pleasure not doing big repairs. Just my thoughts.

LEN

 

[Kirk]

RE: Help with extended warranty decision



If the insurance companys were not coming out ahead they would not sell extended warranties.



While this is true, someone please tell me what insurance company is selling any kind of coverage that does not make money for the company? Insurance underwriters are not charities and they all sell only what makes a profit for them.

 

[C Nash]

Re: Help with extended warranty decision

The ones that are no longer in business Kirk :laugh:

 

[DL Rupper]

Re: Help with extended warranty decision

Go Chelse :bleh: :laugh:

 

[H2H1]

Re: Help with extended warranty decision

well when I bought my MH I also got a 4 years or 48000 warranty. I have had to use it once and they paid off with no hesitation. would I do it again, you bet

 

[C Nash]

Re: Help with extended warranty decision

I think most of the negetive responses to extended warranties is because people do not read the fine print and understand what's covered and failure to follow the correct procedures for filling before the work is done. That was my experience with extended warranties in the Auto business made it tough on the shop owner when he has to tell the customer that something is not covered. I have had customers tell me after repairs that they have an extended warranty and very few warranties will honor without prior approval. Seen extended warranties save a lot of folks that could not have afforded the repairs if they did not have it. Was not trying to be smart by saying that "If the insurance companys were not coming out ahead they would not sell extended warranties" just trying to make the point that odds are in favor of the warranty company. Guess just trying to play both ends toward a middle that belongs somewhere. Warranty is a decision that each person has to decide what's best for them. AJMO

 

[jetboat]

Re: Help with extended warranty decision

we had the extended warranty for 2 out of the 7 year paln. the relized that what they really covered was only nuts and bolts. only the minor items, and major items.nothing. the manufactures warrantys to me are better. most of the time its dual coverage. never again, money not worth spent.