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Old 07-02-2012, 07:59 PM   #1
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Red face Extra warranty insurance

I have a 2012 Flying Cloud which will go out of warranty in another year. Do you think it is wise, given the cost of repairs, to buy an extended warranty? Thank all of you who are so helpful on this forum. Orson
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Old 07-02-2012, 08:54 PM   #2
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Extended Warranty Economics

Last year when we bought our used (3 years old at the time) 2008 Safari we paid the $50 transfer fee to pick up the extended five year warranty from the seller. The policy is the Platinum towable by Xtraride. So far the policy has paid for a broken refrigerator door and a solenoid valve on the Atwood water heater for a total of $824. We paid a $116 deductible so the net payout is $708 by the Xtraride warranty. The warranty company declined to replace a cracked Fantastic Fan housing as well as repairs for floor rot caused by leaks.

The original owners paid $1888 for the 5 year policy. To the best of our knowledge they made no claims while they owned the trailer. At this point in time the net benefit is $708 for a total cost of $1938 ($1888 + $50 transfer fee). Unless something big goes during the next year the warranty will not have been worth the $1888 the original owners paid. Of course for us, the $50 transfer fee we paid has been a bargain!
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Old 07-02-2012, 09:21 PM   #3
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Originally Posted by Orson View Post
I have a 2012 Flying Cloud which will go out of warranty in another year. Do you think it is wise, given the cost of repairs, to buy an extended warranty? Thank all of you who are so helpful on this forum. Orson
Extended warranty insurance for an Airstream, is without a doubt the biggest waste of money you can think of.

The only advantage to that type insurance is that it's a "HUGE" profit for the seller.

Most dealers will not work with the extended warranty insurance companies, since they approve one type of repair, but take their sweet time paying the dealer, after they find a way to back-off their original monetary promise.

Andy
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Old 07-02-2012, 09:22 PM   #4
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The 2 year factory warranty covers the weak parts that may fail within that period. Extended warranties cover years 3, 4 or maybe 5. After the first two years, the broad consensus has been that the major systems seem to be set for the long run. Do not do an extended warranty.

There is the additional issue that extended warranties have constrained and fairly tight conditions on what they will cover. Just try getting coverage!

Maybe a handful out of a hundred extended warranty clients may reap some benefit in the outlying years. Extended warranties are great profit centers for dealers as 95% of folks won't need anything at all. This suggests on a statistical basis that the great majority of us will be miles ahead if we 'self insure' -- that is, stay the heck away from the extended warranty and only a small minority of us will pay the piper.
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Old 07-02-2012, 09:50 PM   #5
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In a word..."No." It's a waste of your hard-earned money.
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Old 07-02-2012, 09:57 PM   #6
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Quote:
Originally Posted by Orson View Post
I have a 2012 Flying Cloud which will go out of warranty in another year. Do you think it is wise, given the cost of repairs, to buy an extended warranty? Thank all of you who are so helpful on this forum. Orson

Hi Orson,
I'll give you my experience with an extended warranty. I never saw the value in extending the original warranty because, typically, most things tend to go wrong during the manufacturers warranty. In addition, some of the expensive appliances have longer coverage than the two year Airstream warranty.

When we purchased our 2005 Bambi, the dealership offered us the extended coverage. Since we paid cash, and spent a large part of our assets on the Airstream, we entertained the idea, mainly because the price seemed reasonable, and it appeared to enhance the manufacturer's warranty. They were also, what I considered to be, a reputable dealer.

Long story short, we bought it, and it has paid for itself nearly twice. It was also the Xtraride Platinum, but for 7 years, at a cost of just under $1600. The deductible was only $25 if taken to the original dealer, and $50 if taken anywhere else. This is not your typical story. During the original warranty there were several minor, and major defects. Many were promptly taken care of by the dealership, and some were not, after multiple trips. We were both working at the time, and tired of the 120 mile round trip, and long waits. Sometimes, it was like pulling teeth to get an appointment.

Last year, after we returned from a cross country trip, during which we had some appliance failures (heating system, audio/video package, black tank flusher, etc.), and a host of minor problems, we compiled a rather large of repairs list for the dealership. They fixed, or replaced, everything without question. This included some items that were not fixed under the original warranty. We also used the extended warranty on other occasions for a couple of minor repairs, with the same result.

Bottom line(s):
- We got better results from the dealership on the extended warranty, than we did during the original warranty period. They seemed easier to work with, and we only had to make one trip.
- As you can see, there are some strong opinions from those who have had different experiences. Again, this may not be your typical experience, just mine. Read what others may have to say, and draw your own conclusion.

Caveat: I have not bought an extended warranty on any major purchases since, and probably won't, unless I hit the lottery, had a weak moment, and decided to buy another new Airstream.
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Old 07-02-2012, 10:01 PM   #7
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Maybe a handful out of a hundred extended warranty clients may reap some benefit in the outlying years.

I consider myself fortunate to have been in the minority this time.
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Old 07-02-2012, 10:05 PM   #8
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Take the nearly two grand they want for that piece of junk, set it aside to warranty yourself, and after the years are up and you haven't used it (which you most probably won't) take a great vacation with your Airstream, or refurbish your Airstream with those options you wanted, or buy a Propride/Hensley hitch.

doug k
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Old 08-08-2012, 02:08 PM   #9
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Extended warranty when you are not at a fixed location at home may also be interpreted as peace of mind - at least it is for my spouse. Is there a cost? Sure. Just like anything else, it is a roll of the dice. Most consider me very frugal, but $$$ coverage when we are out of our local area seems to be worth the bang for the buck - at least to us. Most folks - AS owners may be the exception - have trouble setting aside and leaving alone their emergency fund. As personal income goes up, the marginal propensity to consume goes up as well ... but the marginal propensity to save does NOT!

I hate to see generalizations that categorize this as $$ mis spent. With a background in econometrics, I can point out all the alternatives and opportunity costs associated with the extended warranty ... and arguments about extra profit for the dealer ... YMMV, but what is the cost for peace of mind for 7 years of warranty coverage vs just two from the factory (heaven forbid that there should be a mechanical problem with the AS at the same time that my kidneys need further attention / surgery)? Have you checked the MTBF for RV AC units even when used sparingly to keep seals in order ... and then priced replacements AC units - as the AC usually can not be repaired easily - or even recharged ... how about the new electronics on board for HVAC or ATS ? Perhaps I am now an old phart, but my technical expertise flying or in electronics is no match for the new technologies.
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Old 08-08-2012, 03:09 PM   #10
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Our rule is never buy an extended warranty. Some reasons have been explained in other posts.

Another reason was the guy at the dealer when we were doing the final paperwork was really obnoxious about an extended warranty. Among other things, he tried to scare my wife with absurd stories about what could happen; that did not sit well with either of us. Playing to an assumption that women are easy to scare and can't think rationally was an insult to her.

Dealers love these policies because they get a very big commission and that leaves a small amount for the insurer. Simple economics dictates the insurer has to look for ways to not pay because they may only get half of the premium.

Gene
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Old 08-08-2012, 03:16 PM   #11
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Just a question. Is it possible to purchase Xtraride Platinum extended warranty after the manufactures 2-year warranty expires? It seems this would give you some history on your unit before you buy.

Freedomrider
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Old 08-08-2012, 03:29 PM   #12
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The extended warranty is not for everyone. But if your not a hands on type the extended warranty might be for you. If your a thousand miles from your fixed base and have serious problems an extended warranty might be your life line. No scare factor just what if. Also you can bicker and dicker on the price of the warranty as I would on a new airstream.
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Old 08-08-2012, 04:28 PM   #13
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I don't know for sure if this Xtraride Platinum works like extended warranties for automobiles, but I'd point out that the price for nearly all of the automotive warranties is negotiable. As Gene mentioned, this is a big profit center for the seller of the warranty, so they may be smart enough to see that making half or a quarter of the standard profit on that warranty is better than making nothing at all if you refuse the extended warranty completely. You may have to point out that math to them if they don't get it on their own.
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