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11-08-2006, 03:27 AM
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#1
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Montana Fan
Join Date: Mar 2006
Location: Overland Park
Posts: 155
M.O.C. #5481
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Extended warranty insurance
I know this has been discussed before as to what type to get. I just want some input as to weather or not it is needed. It seems like a lot of money when the normal warranty is included in the coverage period. Most of the components are covered under factory warranty for one or more years. Such as rubber roof is warranted for 12 years, etc. The only big ticked items are the refrigerator and ac. Anyway, I would just like your input.
Thanks,
Dick
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11-08-2006, 05:00 AM
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#2
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Montana Master
Join Date: Aug 2004
Location: Cedar Rapids
Posts: 4,876
M.O.C. #1944
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This gets discussed over and over. Everyone had an opinion. Some like me, swear by it because it has paid off more than the cost of the warranty itself.
Orv
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11-09-2006, 04:08 AM
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#3
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Montana Master
Join Date: Jan 2005
Location: North Ridgeville
Posts: 20,229
M.O.C. #2839
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There is a very recent thread about E.W's started by me but I can't find it right now.There are a couple of us looking to get one and like myself have done a lot of research on the subject.IMO The probabilities that something major will break on one of these things over the next 7 years that will be out of warranty is high.Ex: if the fridge had to be replaced after it was out of Warranty that would more than pay for the entire 7 year cost of the E.W . We deciderd to go with www. warrantyexperts.com..there are IMO other good ones out there "Star" for example is a very good one as is "the Choice".Good Sam ESP is Ok but very expensive and the coverages are the same on all of them..Just my opinion.
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11-10-2006, 06:28 AM
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#4
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Montana Master
Join Date: Jan 2005
Location: North Ridgeville
Posts: 20,229
M.O.C. #2839
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FYI
Consumer Alerts and customer complaints on American Guardian's USA Travel Care Warranty backed by St. Charles RRG.
St. Charles RRG is a Risk Retention Group!!!
St. Charles RRG is not rated by A. M. Best A. M. Best Website
Some companies selling this highly risky and highly complained about warranty policy online include:
Warranty Services Company
RV Protection.net
RV Warranty.com
Web Direct Warranty
and others!
Buyer Beware!
BBB complaints on American Guardian's USA Travel Care warranty have almost equaled the two previous yeas complaints combined!!!
Number of complaints processed by the BBB in the last 36 months: 109
Number of complaints processed by the BBB in the last 12 months: 53
You have to ask yourself one question, Is this the warranty that I want take care of me when I most need it?
Better Business Bureau Report
Consumer Affairs Department
Customer Complaints
Warranty companies backed by Risk Retention Groups that are insolvent include the following with the most recent in December 2005:
Warranty Gold
1st Assured
Who could be next?
Risk Retention Groups ("RRG's") are federally chartered and are not required to undergo the scrutiny of insurance regulators in each of the states in which they do business. There is little or no oversight of Risk Retention Groups by any Federal agency and relatively little, if any, checks and balances from state regulators to insure that RRG's comply with sound insurance and/or business practices. There is no "Guaranty Fund" or other safety net for dealers or contract holders in the event a RRG becomes insolvent.
Risk Retention Groups can be established with very little capital ($500,000 or less). Because of their size many RRG's lack the sophisticated staff/professionals (risk managers, actuaries, underwriters, etc.) necessary to ensure that adequate funds are being placed in reserves to pay for future claims. The lack of experienced staff combined with an almost manic desire to grow business has resulted in some RRG's allowing their agents to sell extended service contracts at inadequate and unsafe rates.
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11-10-2006, 07:54 AM
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#5
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Montana Master
Join Date: Aug 2006
Location: Lone Tree
Posts: 5,615
M.O.C. #6109
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Dick,
Rich has researched this topic thoroughly - and offers some great insite and comparisons.
I will be looking through his thread again (I can't find it either) now that we are starting new. I do offer this for consideration-
- You can get an extended warranty for your fridge and AC direct through Dometic, if those are your main concerns
- Keystone has been excellent in repairing gross defects on thier products after warranty expires - hopefully that will continue
- More than the appliances - I worry about slide issues (tearing floor, malfuntion, etc.) Unfortunately the extended warranty only covers the mechanism, and not damage caused by them
Just food for thought.
Brad
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11-10-2006, 09:12 AM
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#6
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Montana Master
Join Date: Jan 2005
Location: North Ridgeville
Posts: 20,229
M.O.C. #2839
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More than the appliances - I worry about slide issues (tearing floor, malfunction, etc.) Unfortunately the extended warranty only covers the mechanism, and not damage caused by them
Good observation..They are all the same and you have to read them very carefully to determined exactly what they do and do not cover.As others have stated..how much can I afford to pay for a repair. I will adsorb a 500.00 deductible but i try to insure against those huge repair bills. I am actually not a fan of E.W's and did not have one on our previous camper used for Recreational purposes only but feel that the way we will be using this one in terms of travel and time living in it . The probability of failure involving a high cost repair that is out of Warranty is high.. It is a crap shoot at best
We had a custom van that burned to the ground a few years ago.The fire was determined to be caused by a defective heater( a defect that GM knew about but failed to recall) The insurance company paid for the truck (totaled) but deducted the cost of the heater that caused the fire???? (Small print I guess) That is the sort of thing that Brad is refering to...
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11-10-2006, 05:56 PM
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#7
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Montana Master
Join Date: Sep 2004
Location: Leona
Posts: 6,382
M.O.C. #2059
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I can't say what I might have done if I had bought new, but since I bought a previously owned unit with a Seven-year transferable extended warranty, it gave me coverage I could not have otherwise. The transfer fee was a mere $75 for the remaining 5-1/2 years. We had to replace the landing gear mechanism which was completely covered less my $50 deductible. In that one incident, I recovered 3/4 of the seven year premium. It was a major selling point when I bought the unit especially since I bought from an individual.
Having said that, I would be extremely careful in my purchase of an extended warranty policy. As stated above, all providers are not equal even if they have exactly the same policy. I check with service managers and accounts receiveable to determine how happy the they are with the cooperation and the promtness of payment. That's where the water hits the wheel.
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11-11-2006, 12:06 PM
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#8
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Montana Fan
Join Date: Sep 2006
Location: augusta
Posts: 158
M.O.C. #6258
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You might try this go to several independent rv repair shops and ask them howe extended plans pay & what percent do they pay this should give you a good guide.
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11-12-2006, 11:07 AM
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#9
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Montana Master
Join Date: Nov 2004
Location: Mayville
Posts: 629
M.O.C. #2486
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I find it strange that the extended warranty companies want to sell you their product when you purchase your unit new. They only cover the unit after the factory warranty has expired. It is free money for a year for them. I agree you have to get their coverage brochures and go over them real good. I have found some that offer the Gold, Silver or Diamond warranty to take more of your money for a little more coverage.
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11-12-2006, 03:07 PM
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#10
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Montana Master
Join Date: Jan 2005
Location: North Ridgeville
Posts: 20,229
M.O.C. #2839
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Old turbo.. Another good observation.That is how the E.W's make their money and why the rates are comparatively inexpensive. Campers are covered by the manufacture for 1 or 2 years and the vendor supplied items are covered for anywhere from 1 to 5 years with the rubber roof covered for 12 (but not the glue that holds it down) go figure??? The EW's do not pay for any item that is under warranty and that is clearly stated in all of the E.W's.They will pay for any money due in excess of the Warranty repair bill..(Small chance of that )Like my Health Insurance. Medicare is primary and what they don't pay my Gov BC/BS does. That's why I bought for 7 years at @ 145.00 per year and why I bought a EW that did not charge more if you did not buy within 30 or 90 days (we are 8 months old) You give away the first year or maybe 2 and many vendor items are warrantied for up to five years so the probabilities that you will use the E.W within the first 5 years can be slim. It is just like Las Vegas..the odds are in the E.W's favor and the reason they can stay in business is that is true. But..Knowing all that I bought one anyhow... It is a gamble...
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11-28-2006, 11:38 AM
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#11
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Montana Fan
Join Date: Jun 2004
Location: Rockledge
Posts: 165
M.O.C. #1726
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Rich,
The earlier Thread that you referred to is listed under "General Discussion", "General Discussions about our Montana", "Extended Warranties" posted on Oct 23.
Jim
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12-19-2006, 10:22 AM
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#12
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Montana Master
Join Date: Dec 2003
Location: Colorado Springs
Posts: 578
M.O.C. #718
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We pick up our new 3400 on the 29th so I am shopping again. I have a Warranty and canceled it the 29th one year old money back. I was looking and the way I undestand if you buy the extended one prior to the original one running out, it is still new not used so no need for a warranty till this time next year, was looking at STAR looks good but the Cancellation says refund is pro rated back to the date not that you bought it but the Manufacture Warranty in service date.which will be a year prior so you loose a year.
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12-19-2006, 11:58 AM
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#13
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Montana Master
Join Date: Jul 2003
Location: Clearwater
Posts: 10,917
M.O.C. #420
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I just want to say this... We have it on our current Monty. We will POSITIVELY NOT waste the money on the new Monty. I was always against extended warranties and thought they were just a big ripoff but three years ago I went against my better judgement and purchased the extended warranty. After 3 years my opinion has not changed. This was the very first time we EVER purchased an extended warranty and it is also our last time.
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12-19-2006, 01:19 PM
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#14
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Montana Master
Join Date: Jan 2004
Location: Down the Road
Posts: 5,627
M.O.C. #889
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I bought the 7 year pin to bumper extended warranty from "The Choice". I bought my coach in April of 2004, bought the warranty in March of 2005. As long as I was under the original 1 year factory warranty the price was the same. I liked banking the $1,200 for 11 months, also like that I basically have a 8 year pin to bumper full coverage warranty minus $100. Pretty cheap insurance...
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12-19-2006, 03:08 PM
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#15
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Montana Master
Join Date: Nov 2005
Location: Campbell River
Posts: 970
M.O.C. #4976
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Montana Sky,
When you were back east a few months ago and had repairs done at Goshen, was that covered by your Extended warranty?
Or was that something else?
J&D
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12-19-2006, 05:52 PM
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#16
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Montana Master
Join Date: Jan 2004
Location: Down the Road
Posts: 5,627
M.O.C. #889
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John & Dawn,
The great folks at Keystone took care of the entire thing. I told the center I have an extended warranty and to charge everything to them, and I would pay my $100 deduct. They said nope, everything done at the center is done out of good will for their customers. I have a rough idea of what it would have cost me if I had to pay for it, lets just say I would have paid for my extended warranty 4+ times over. I must admit I have never seen a company step up to the plate and put the customer first like that before, especially since I was 2 years out of factory warranty at time of repair.
Even with that experience, when the time comes to purchase a new coach I will again buy the extended warranty. I feel they are worth the additional $1,200 - 1,500 in cost.
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12-20-2006, 01:00 AM
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#17
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Montana Master
Join Date: Jul 2003
Location: Clearwater
Posts: 10,917
M.O.C. #420
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OK t seems a number of you are happy with his/her extended warranty and that I guess is good but the big question should be "Has any body used their extended warranty? And how happy are you with it now?
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12-20-2006, 02:39 AM
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#18
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Montana Master
Join Date: Aug 2004
Location: Cedar Rapids
Posts: 4,876
M.O.C. #1944
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Quote:
quote:Originally posted by Glenn and Lorraine
I just want to say this... We have it on our current Monty. We will POSITIVELY NOT waste the money on the new Monty. I was always against extended warranties and thought they were just a big ripoff but three years ago I went against my better judgement and purchased the extended warranty. After 3 years my opinion has not changed. This was the very first time we EVER purchased an extended warranty and it is also our last time.
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Glenn,
I think you know that I'm against extended warranties (unless you need it). Having said that however, I did purchase it with my 2000 and it has paid for itself. New refrigerator, slide pump, broken hydraulic fitting. I had the $50 deductible so had to pay $150 for $2300 worth of repairs in six years.
I'm glad I purchased the extended warranty since there are so many things that can go wrong that are not the responsibility of Keystone.
It's sad that we even have to consider the extended warranties because that tells us that SOMETHING is going to fail. Remember when Sears and Montgomery Wards used to sell their products? They never even considered selling an extended warranty because they KNEW their products were good. My folks used to buy everything for our household (clothing, furniture, tools, etc) via the catalog and never thought a thing about failure.
And, just last week when the black water tank split at the top, a $914.00 invoice only costs us $50.00. So, for some of us the extended warranty REALLY paid off!
Orv
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12-20-2006, 07:14 AM
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#19
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Montana Master
Join Date: Jan 2004
Location: Down the Road
Posts: 5,627
M.O.C. #889
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I have used my extended warranty twice on my rear a/c unit and 3 times on my bedroom slide out at the dealership. Total cost that has been paid out from my warranty; $750 dollars. $1,200(original cost) - $750(covered repairs) = $450 left before my plan has paid for itself. If I were to add the cost of the repairs that Keystone did, I am about $4,000 ahead... It all comes back down to personal choice, and what a fella feels comfortable with. I guess I figure if a person can spend $45,000 - $70,000 on a coach, that $1,200 is not going to change much in the big picture. Am I happy with my coverage plan? You bet!
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12-20-2006, 07:29 AM
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#20
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Montana Master
Join Date: Jan 2005
Location: North Ridgeville
Posts: 20,229
M.O.C. #2839
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Our attorney told us we would be better off placing say 5K is a interest drawing account or set aside a CD for use as a momey source in the event of a failure..Having said that we did not have that kind of $ laying around that we did not need so we did purchase a extended warranty from Warranty experts.The 3400 was 8 months old and we did not pay any more for the warranty..if we do not file a claim our purchase price is refunded. I am not happy about paying for our home owners insurance..but it came in handy when half of our roof blew off..such is life..We makes our choices and we pays the price...one way or the other.
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