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RV Extended Warranties

Susan J

RV extended warranties are contracts that provide coverage to your RV for extended periods of time.  They are also called service contracts, and work more like insurance than regular manufacturer warranties.  They are usually done by third party companies but manufacturers and dealers sometimes have them.  However, they are not for everyone and have several pros and cons.  Here is some information to help you decide if an extended warranty is right for you.

Pros

Extended warranties have several advantages.  First of all, it can give you peace of mind.  RV repairs are generally expensive and you can expect to pay at least $1000 for typical problems.  Knowing that you have any potential problems covered means you don’t have to worry as much about things going wrong and have more fun traveling.  It can also help protect you from rising prices of repairs.  Another good thing is that it increases the value of your RV if you ever decide to sell it.  Potential buyers will know that the unit has been well taken care of and that the extended warranty for it will help to keep it in good shape in the future.

Cons

Extended warranties are not without their disadvantages.  Mainly, you could end up losing money if not many things go wrong.  This also depends a lot on the contract you make.  You could also have something break and it not be covered in the warranty, which can be very frustrating.  The extended warranty companies will often try to get out of paying through loopholes in the contract.  Down below I will talk a little about what kind of contracts to look for to try to avoid these issues.  But if you have a good bit of money saved in case of emergencies it may be more cost efficient to not get a warranty.

Cost to repair without warranty chart

When To Get An Extended Warranty

You should not consider an extended warranty if you are looking for the following: to cover regular maintenance, to cover pre-existing damages, to fill gaps in other insurance plans, or to provide roadside assistance.  You shouldn’t get one for an RV that is less than a year old either.  This is generally the break in period and you may have several things go wrong.  At this time, just use the manufacturer’s warranty and consider getting an extended warranty after its term is up.  You also shouldn’t get one for an older RV because the plan will be more expensive and won’t be cost effective or even worth it unless a lot of things break.

Contracts

Their are several things to look for in a good contract.  First of all it is best to do business with third party companies.  Manufacturers and dealers will almost always try to overcharge you.  There are two types of policies you can get, inclusionary and exclusionary.  Inclusionary policies state on the contract what things are covered while exclusionary policies only state the things that are not included.  Exclusionary policies are better because their aren’t as many loopholes that the warranty company can use to get out of paying up.  The downside is that they are more expensive.  However, a well thought out and written inclusionary policy can also serve you well.  The most important thing you want to try to get in your contract is consequential damages.  Say you have a part that messes up that is not covered on your plan.  If that part causes something to mess up on your plan, the warranty company will not have to pay if you do not have consequential damage coverage.  Getting it just adds another layer of protection and I probably wouldn’t consider extended warranties without it.

Other Considerations

One thing you need to consider if you decide to get an extended warranty is that you will need to follow all of your RV’s maintenance schedules and keep good records of you doing this.  The warranty company will want to see these records before they will pay.  Most plans aren’t going to cover problems related to you not taking proper care of your RV.

I hope this article has provided you with some useful information. Hopefully, you will never have a need for an extended warranty, but they are available should you feel you can benefit from them.

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