extended warranties

[rebntx]

What do you guys/gals know about Wholesale Warranties.com?

 

Our initial warranty runs out in mid-September and someone recommended Wholesale Warranties.

 

I know they are a brokerage, but has anyone used them

 

I don't like extended warranties, but maybe I should have one.

 

Thoughts?

[kathydavidb]

I think I would have been money ahead not to have the extended warranty. I think I'll just keep up on the maintenance issues and just pay for anything that comes up. Dave.

[chirakawa]

http://www.rvnetwork.com/index.php?showtopic=114209&hl=%2Bwholesale+%2Bwarranties

[Kirk W]

I think I would have been money ahead not to have the extended warranty.

Like most any insurance policy, do not buy it believing that it will save you money. This is insurance and no insurance policy can pay out more than their customers pay in to more than a few of them. With all insurance, it should be purchased to protect you from financial disasters if the worst should happen. In nearly all cases, insuring for a possible loss which you can easily afford to pay out of pocket without difficulty is not goo planning, unless it is done to gain peace of mind. With a motorized RV the replacement of an engine or transmission will always cost far more than does one of these "warranties" if that should happen. Even so, if you carry a large enough bank balance to be able to just write a check for one of those and continue as before, it still is not a good buy as you probably will not save money. On the other hand, if the replacement of an engine, or some other major loss would cause you serious financial difficulty, then you should consider buying one of them.

 

The information in this article from our website is still very much valid and might be worth your time to read.

[JRP]

RVreb, I agree with Kirk. Don't buy an extended warranty because you think it will save money, for 90% of buyers it doesn't. Buy one if you think you'll be the unlucky 1 in a 100,000,000 who will blow an engine or transmission (and will have all the written documentation showing you did every Mfg recommended service on time, every time). For all the other everyday repairs/replacements, you're better off putting an allowance in your bank to use for repairs.

Or buy one if you think you wont sleep well without one.

[richfaa]

We purchased a RV shield EW through Wholesale warranties. No Problems. We can not afford big ticket failures but we can afford the premimims for a policy that will pay for big ticket failures .To us a EW is no different than any other policy, Home, car, truck,Health were we pay a affordable premium to cover big $$ failures.

If you feel you will never have a big $$ failure or you have the financial resources to cover any failure the EW is not for you..

 

We would not leave home without one.

[Mariner]

I'm with richfaa. We have an XtraRide policy from Wholesale Warranties that we bought 2yrs. ago for $4100. It has already paid for itself, and we have 2yrs. left on it. Some like the idea of self insuring by setting aside a certain amount each month to cover any problems. But if you check out labor charges, $100hr. to $125 an hour, it wouldn't take long before any savings would be gone. My coach is a 2000 with 95K on the odometer, and we have no intention of letting any grass grow under our feet. So we like the idea of having the peace of mind knowing we only have to pay a $100 deductible.

[Travelforever]

We bought an extended warranty when we bought our 2011 motorhome in 2013. We have had work done on it and they have paid out almost $2600.00 so far. Our total bill for the warranty was $4000.00 so we have almost recouped half of our money in two years. But the biggest reason is for the peace of mind should we ever need that several thousand dollar repair!

[Ray,IN]

We bought an extended service contract because we were buying a 2000 MH that had been stored for 8 years. To date we are approx. break-even on the purchase price and have 6 months remaining. We will renew it when it is nearly expired, as Good Sam now offers it to 18 years old.

One man on a different RVing forum did not buy an extended service contract and a few months later the diesel engine dropped some valves-for the 2nd time. The total repair bill was $29.000 this last time. Self-insuring was not the right choice for him.

 

If you decide to purchase one, be sure to get the "seals and gaskets" rider; otherwise, if a transmission gasket leaks out your fluid while driving, your contract may not assume liability for the failed transmission.