From the day you buy your new RV or motorhome, things are going to start breaking. It's a fact of RVing life. And sometimes those necessary repairs can be very expensive. Of course, if you have bought a quality motorhome from a reputable manufacturer, chances are that your factory warranty will take care of whatever problems you have for the duration of the warranty period. But what happens after the factory warranty expires?
Well, unless you have an extended warranty contract that insures against major repair bills, you are pretty much on your own. If you have plenty of money saved up for just such emergencies, then you may be just fine, but if you have to budget your monthly expenses an extended warranty service contract may be a viable consideration.
The main advantage to any extended warranty contract is that you can in effect place a cap on the amount of repair costs that you have associated with whatever you are insuring. So if the warranty costs you $1,000 and it runs for 3 years, you should not have more than $1,000 in major repair bills during that time if all goes as it should. Extended warranties usually do not cover normal wear and tear items, so you still will have to budget for that, but it's main purpose is to insure against large unexpected repair bills.
However, not all RV extended warranties are the same and much depends on the company that issues the contract. If it is a solid, reputable company, the extended warranty can be a great thing to have. If the company is not reputable, it could be a huge waste of money. So here are some things to consider when thinking about purchasing an RV extended warranty:
* Be sure that you know exactly what is covered under the warranty and for how long. It is a very good practice to read these contracts through completely and become thoroughly familiar with them to avoid surprises later on.
* Ask fellow experienced RVers about recommendations regarding extended service contracts, and be careful to listen for how each was treated when a claim arose. If you hear several complaints about a certain company, it is wise to avoid them altogether no matter how good their rates may seem.
* Establish where you can take your RV for repairs when it breaks down. Some companies have very limited arrangements for service or require you to be in a certain geographical area for repair service, and if you break down outside that area, it could be a real problem. The best companies have plenty of RV repair facilities for you to choose from that cover almost anywhere you wish to travel.
*How long has this RV extended warranty company been in business? If it is a relative newcomer, let them establish a reputation at sometimes else's expense, not yours.
Admittedly, all of this homework and research can be a little time-consuming to do, but it can also save you lots of money and grief in the long run, and help add to your peace of mind as you travel.
A recent Consumer Reports study recommended that people buy highly rated models only and that they invest in Money Market accounts to save for repairs, rather than invest in a warranty. However, if you tend to incur a good number of auto repair bills, if you plan on keeping your car more than three years and if you drive your car over the recommended 12,000 miles annually, then you are a good candidate for the extended warranty program.
Dealerships know that consumers trust them, by nature. An establishment that deals with billions of dollars in sales each year couldn't possibly rip you off over a technicality like the extended warranty, could they? Well, perhaps they don't mean to rob you blind, but think of the dealership as a retail operation.
If you've ever worked in retail, whether it's clothing, furniture, consumer gadgets or automobiles, then you know that retailers mark up the cost of their items anywhere from 100% to 1,000% of the cost value! Now imagine how much extra you could be paying for your extended automobile warranty. Don't be afraid to go directly to the source and purchase your warranty online from a trusted company like Warranty Direct.
Another factor to consider is auto warranty for "wear and tear." This type of warranty can be hard to find, since many only cover mechanical failure. However, you can definitely find extended warranty coverage that includes "wear and tear," thereby covering parts like the idler arm, piston rings, U joints, CV joints, wheel bearings, motor mounts, suspension bushings, tie rod ends, seals, gaskets and other engine parts that gradually wear down and may or may not cause a mechanical breakdown.
If you have an anti-lock braking system, then you'll want to make sure your coverage extends to ABS and instances of overheating. The comprehensive website, carbuyingtips.com recommends Warranty Direct and Nation Warranty Corporation, which both include "wear and tear" in their plans.
The most important thing is that you don't feel rushed or hassled into securing the extended warranty for your car immediately. Most auto warranties allow you the option of buying later; yet of course, you should only delay as you research, rather than allowing enough time to elapse so your car is a liability. Like with health insurance, it's much harder to get coverage once problems arise.
As with anything, the extended auto warranty is a "buyer beware" scenario, but if you do some homework and understand your auto habits, then the couple of thousand you pay today can save you a small fortune tomorrow.
Both Jim Johnson & Mike Selvon are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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