Should you buy and extended warranrty?
We have owned 3 motorhomes and 2 pop up trailers.
Up until June 2016 we had only ever bought one warranty and this was the experience below
I bought one warranty when we bought the new Class C motorhome the company went belly up and the 4k we spent was down the toilet. Not a good experience at all on a side note so was the dealer shortly later belly up that is. We never filed a claim and never got a thing repaired.
In the three motorhomes mostly everything that needed addressed i have taken care of myself. So would a warranty provide protection and service probably but in my situation not very useful i have never had that huge expense or major failure. I have always stayed on top of maintenance and not taken chances however i had one case where perhaps the warranty would have paid off.
The second motorhome had a situation where the extended warranty would have paid off had they been in business the brakes locked up on the motorhome and would not free up, it was a painful process to deal with on the road and a warranty would have really help in the situation and reduced the stress level. But i did not have and dealt with it myself.
Now in 2016 looking at warranty again should we get one?
2016 we started thinking about our planned travels and would a warranty make sense as when are away it is extremely difficult to work on things while not near all my tools. But minor things I will still could take care of myself refer to replacing heat core while at campground in 2016. I did this with the tools i carry and it took about 5.5 hours. Again still in my ability on the road. But what if we hit a snag like something major in the engine turbo, compressor etc.. Well if i was at home i likely would tackle the job but in Rapid City SD I would be in hurt. So i started thinking we should review warranties and options.
I started getting quotes all at different deductible levels boy the prices and terms very greatly. After a lot of evaluation and discussion this is the conclusion we came too:
- Protection should cover something big we were not interested in nickle dime expenses.
- It must be complete coverage meaning generator blows up its covered we are not interested in arguing about a major repair.
- Must be backed by someone we can trust will be there next year refer to belly up company above.
- Must be renewable we preferred a yearly option for set number of years that we can count on.
So this is where we landed we chose Good Sams ESP with $1000 deductible renewable at the same rate for the next 3 years.
Is it expensive i guess that is matter of opinion for the 3 years of coverage we will spend more than some of the 3 warranty programs we were quoted but we are talking about less than 300 per year difference. We are only required to buy one year at time so we can decide if we want to renew.
We thought $1,600 per year for complete coverage for a motorhome that is already 14 years old was very fair. But again we opted for high deductible major event type coverage so for example a water heater replacement would probably come under $1000 but a compressor replacement for the motorhome would come well over.
Again we know our limit is $1000 we are comfortable with this.