I am constantly being asked by fellow RVers should they purchase an extended warranty for their RV. I always reply this is a personal choice that has plagued mankind for years. Today's RVs are more complex with expensive components and the labor is three times that. I asked Wholesale Warranties to answer some of the most common questions I receive about whether an RV extended warranty is a good choice. Below you will find great information from Jessi of Wholesale Warranties to help with your research. If you decide an RV extended warranty is for you, my go to choice is Wholesale Warranties.
"With conflicting information in the RV community about warranties, it can be hard to decide if they’re a worthwhile investment or not.
By considering the chance of breakdowns in your rig, the cost of repairs, functions of a warranty, and the different levels of coverage available, you’ll be better suited to decide if an RV extended warranty is right for you, your budget, and your travel plans.
Before asking these questions, it’s important to note that an RV warranty is officially called an “Extended Service Contract”. The term “RV Warranty” implies that the protection is affiliated with original manufacturer’s warranty, which is not the case. In this article, we will use the more common terms of ‘RV warranty’ and ‘RV extended warranty’ to discuss extended service contracts."
When choosing whether or not to purchase an extended warranty, consider this:
What is the chance of an RV breakdown?
"Each year, motorhomes and towable RVs become increasingly complex. Those complex components are put together by hand. This means there is inevitable human error in the construction of every rig. In fact, 3 in every 10 motorhomes will break down by their second year on the road.
That number becomes 8 out of 10 in the fifth year, and nearly every RV by the eighth year in service.
Consider the chance of breakdowns in your specific rig. If you know how frequently you’ll be making trips to the repair shop, you’ll be able to determine if you have room in your travel budget to foot the bills".
How much will RV repairs cost?
"A single hour of repairs on your RV will run you an average of $300. Labor rates are climbing to well over $100 per hour, with the average parts cost running double the labor. At this rate, even the most common repairs result in high costs.
The price you pay at the repair shop can help decide if you need another layer of protection to safeguard your investment.
You can estimate how much you would pay out of pocket for RV repairs by using a warranty quote to understand the long-term probability of future repair costs. As a warranty provider, we continually analyze claims reports to make predictions on the liability of a specific rig".
What is the purpose of an RV warranty?
"An RV extended warranty will step in to cover these mechanical and electrical failure costs. This coverage typically extends to things like the engine, transmission, and drive axle components, as well as most major coach components, just to name a few.
If the cost of one major repair would take your entire travel budget to fix – an extended warranty is worth looking into.
Alternatively, if you’re looking for a policy to cover common maintenance items, aesthetic items, upgrades, or damage caused by collisions - warranty coverage would not be the correct protection for your motorhome.
Another feature of a warranty is the added value it provides for your rig if you plan to sell it down the road. Holding a warranty implies that the RV has been well maintained, repaired, and cared for. Just make sure the policy you purchase is transferrable".
What are the levels of coverage for an RV warranty?
"There are plenty of options to choose from when it comes to RV warranty coverage. Not all policies are created equal, and it’s important to recognize which one will fit your needs.
An exclusionary policy, although counterintuitive, is the most comprehensive policy available. It will cover every mechanical component on your motorhome unless it’s explicitly stated in the “What is Not Covered” section.
Alternatively, comprehensive coverage will list every component that the warranty will cover. If it’s not on the list, it won’t be covered by the warranty.
Items not covered by any level of coverage include maintenance, aesthetic components like fabric or glass, damages caused by collision or weather, and any repairs covered under your required comp and collision insurance.
Take into consideration any additional add-ons such as roadside assistance and tire and wheel protection when purchasing your policy. At the very least, make sure your warranty provider will walk you through exactly what the coverage includes, and always make sure you read through your contract prior to purchasing a policy.
There are some best practices when choosing coverage, so if you do decide that you want to move forward with an extended warranty, make sure to read this three-part series for further education. “Decoding Your RV Warranty” - Part I: Basics, Part II: Repairs, and Part III: Coverage.
No matter what policy you choose, make sure your provider will go up to bat for you post-purchase. Online reviews are an excellent source of information to see how previous customers were serviced on their policies".
"At the end of the day, as RV Extended Warranty experts, we’re here to educate you so you can make an informed decision on whether or not to purchase a warranty.
All factors considered, warranties won’t be right for every traveler, and only you can decide if peace-of-mind is worth investing in a warranty".
Interested in seeing what an RV warranty might cost you? Get a free, personalized quote here.