Extended Warranty- is it worth it?

[Labmom]

Good morning,
I just purchased a new Winnie Drop and need to decide if I should get an extended warranty. Has anyone ever purchased one and if so was it worth it? I was told on another forum that usually these warranties don’t cover things that go.
TIA!

Labmom

[jbjuices]

Jumping back in...with Extended warranty kicking in, I just replaced my front screen door and it was expensive. Cost me $100.

[rbpru]

I bought a used TT. No extended warranty but an expensive insurance policy. Two and a half years later a road hazard took out the running gear.

$3500.00 dollars of insurance money and my $200.00 deductible and I was on road in five weeks.

Since most TTs have some sort of warrantee from the manufacturer, I find it likely that a major issue will occurred sooner than later. An accident however can happen at anytime.

There are few sure bets in life.

Good luck.

[soneill5]

What I've found with my last three trailers is they never really build'em like they used to. With our first trailer, we replaced both bunk ends (it was a hybrid) and a water heater in the 3rd year - total cost $2000 (lots of labor cost). In this case a warranty would have saved me money. The 2nd trailer had only decals pealing after 3 years and a water heater controller in 5 years. Had we bought a warranty, we'd have lost money. Our current has to have a thermostat, new water heater, and faulty wiring for one slide replaced during the first year. You bet you bottom, I'm buying a warranty. Each unit is different - you need to assess this with how savvy you are to make your own repairs. For me, I don't have the time or knowledge to make major repairs and know first hand that $100-$200/hr labor rates are the killer for any dealer service call.

[mike-s]

jbjuices wrote:
YES, absolutely worth it. You'll get your money back for sure.

Ha.

Service contract ("extended warranty") companies are in business to make money. They only make money if they pay out less than they take in. If they don't, they go out of business, and then that "lifetime warranty", isn't.

[delwhjr]

As said in earlier posts, it is a gamble.
The easiest way to determine if YOU think its worth it is to ask one question: Am I okay with not having coverage and paying for whatever myself?
If you are a risk adverse person, you buy it
If you like to take chances, you don't.
It is an insurance policy. Sometimes poorly written and maybe over priced but insurance nevertheless.
What level of risk are you willing to assume?

[jbjuices]

That is just not true. The TT is movin' and shakin' and things go bad that you can't replace for the $$ the extended plan cost. I've had it on my last two campers and replaced an awning, gear box(es), electrical systems, propane issues, TVs, more TVs, radio's...I can go on and on. Cost me the $100 deductible, but would combine issues to save money. My new trailer has 4 TVs, a satellite, resi fridge and many other expensive items that WILL most likely go bad in 7 years time. If I didn't pay for an extended warranty, then I would have paid triple out of pocket.

To each your own, but come on...piece of mind for 7 years is worth a little up front cash. Also, you say read the fine print, never have I had an issue with getting something fixed.

[MarkTwain]

jbjuices wrote:
YES, absolutely worth it. You'll get your money back for sure.

Look at a complete Extended Warranty policy. Read and make a list of the "exemptions" that will NOT be covered by the policy. Then decide if is "ABSOLUTELY WORTH IT". If you take the cost $$$ for the Extended Warranty and go to Las Vegas and put the money on RED or BLACK, you will get better odds of winning from your investment:):)

[lmpres]

We bought the Camping World Extended Warranty when we bought our 5th wheel 4 years ago. Have found it to be pretty much worthless. Had 2 major issues that they denied. Even the Service Manager rolled his eyes when they denied our second claim, $4k.....

[jbjuices]

Yep

[time2roll]

Not

[jbjuices]

YES, absolutely worth it. You'll get your money back for sure.

[MarkTwain]

2oldman wrote:
TT extended warranty?

ext warranty- general 2011

Put the money you would pay into your bank account and you will have 100% coverage on every thing on your RV??

[bobndot]

quote wrote:
take the cost of a warranty and bank it

You might not believe how fast it adds up because you hardly ever use it.
Been doing that since 1988 when a salesman offered me an EW. Been doing it ever since each time I'm offered one.
After a very short amount of time, it allowed me to be self insured no matter what I buy or have to repair.
I just take the money out of that EW account that belongs to all those generous sales people and make the repair. Today, I could buy a class A for cash with that money. 🙂

[colliehauler]

For me no there not worth it.