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Old 10-23-2007, 09:35 AM   #1
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Is an extended warranty for a 2001 worth it?

In regards to new trailers, I know extended warranties have largely been dissed as not being worth the money due to the relatively low risk of component failures for new trailers (which I agree with). And even though I know dealers and insurance companies would not offer an insurance product that does not make THEM money, I have to wonder if buying an extended warranty for a 7 year old trailer might still make some sense.

We're due to pick up our new-to-us 2001 Safari 25 SS next week and the dealer offered us a 4 year "Platinum" policy for $1800 from RV Advantage, an RVDA Canada endorsed insurance product backed by GE Commercial Distribution Finance.

The policy essentially provides all-risk protection (parts and labour) and covers all appliances, waste system, fresh water system & connections, AC, brake systems, bearings, syspension and includes a $300 towing allowance in the event of a breakdown (applies to trailer only I presume). The things it doesn't cover include seals and gaskets, tires, awning, lights, switches etc. There's a $100 deductible for each occurance.

Normally I never consider extended warranties, but since the trailer and all of its components are 7 years old, and considering expensive shop labour (now in the range of $100 per hour - which is always the biggest portion of repair costs) I'm wondering if in this case it might make sense.

I guess it all comes down to the law of averages, but unforunately I don't have a "feeling" as to how reliable the components in 2001 Airstreams are.

I'll probably go with my "gut" and pass on the insurance option, but would appreciate any advice.

TIA!
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Old 10-23-2007, 09:50 AM   #2
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hi garfield!

occasionally and for some people, extended warranties DO provide value...

the 'exclusion' list must be very very short on an rv for me to buy extended coverage.

for example, the a/s AND fridge would need to fail (under coverage) for this policy price to add value...

these large appliances (ac, fridge, furnace) are usually good for years of service once proven to work...

many do fail when new, but get past a year or 2 and they just seem to keep going.

7 years isn't long for most of the systems, IF not abused.

most of the small items (water pump, converter, breaker box, fans) aren't too costly and can be owner installed.

axles aren't likely to fail and hubs/brakes are a wear/service item.

again with a 100$ co-pay LOTS would need fixing to accumulate the policy price....

but IF you don't like doing any diy repairs AND value the peace of mind from 'good coverage' go for it.

cheers
2air'
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Old 10-23-2007, 11:15 AM   #3
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Thanks 2air, that sounds like very sound advice. You're right, in that two major applicances would have to fail to recoupe the $1800. Its not surprising that the regular things like hinges, switches, gaskets and such that WILL have to be replaced aren't covered.

That doesn't guarantee we won't be saddled with some major repair bills, but I prefer to spend my insurance money to protect us from catestrophic loss - I'd go broke trying to insure us from all risks.

But most importantly I'm glad you think the appliances should last some time before needing replacment - that was my source of concern. Fortunately our new-to-us trailer is in excellent condition and the dealer's going to provide 3 months full warranty coverage starting next May, so we should be off to a good start.

I guess I just needed to hear it from someone else with more experience.

Thanks!
Gary
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Old 10-23-2007, 11:15 AM   #4
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$450 per year isn't bad for peace of mind. It's insurance and if not used you'd feel you wasted your money and if you did use it you'd feel good. All it takes is one costly repair. 2air is correct in that you should get a detail of ceverages by looking at the contract not the brochure. If the coverage is good and you feel comfortable I think there's room in the $1800 for you to get it for less.
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Old 10-23-2007, 11:23 AM   #5
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Quote:
Originally Posted by Garfield
In regards to new trailers, I know extended warranties have largely been dissed as not being worth the money due to the relatively low risk of component failures for new trailers (which I agree with). And even though I know dealers and insurance companies would not offer an insurance product that does not make THEM money, I have to wonder if buying an extended warranty for a 7 year old trailer might still make some sense.

We're due to pick up our new-to-us 2001 Safari 25 SS next week and the dealer offered us a 4 year "Platinum" policy for $1800 from RV Advantage, an RVDA Canada endorsed insurance product backed I'm wondering if in this case it might make sense.

I guess it all comes down to the law of averages, but unfortunately I don't have a "feeling" as to how reliable the components in 2001 Airstreams are.

I'll probably go with my "gut" and pass on the insurance option, but would appreciate any advice.

TIA!
Well let's look at the things that break. A/C, Fridge, water heater, furnace. Those are the components that wear and tear take their toll on that are covered. The only thing approaching the factor of $1,800 is the fridge. Anything else will be less.

I've never had a fresh water or waste system failure. Brakes wear out, that's not covered. Bearings and suspension will wear but again where do they draw the line between maintenance issue and outright failure?
Look over the trailer (especially these components) carefully if you can to determine how well it was taken care of. That may give you some clue as to how the previous owner took care of things.

Then make your decision as to whether you want extended warranty. If you read Trailer Life magazine you will find that in their reader help area, the most common issue they have is the lack of coverage for a repair when a person has an extended warranty.

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Old 10-23-2007, 11:46 AM   #6
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Quote:
Originally Posted by RIstream'n
$450 per year isn't bad for peace of mind. It's insurance and if not used you'd feel you wasted your money and if you did use it you'd feel good. All it takes is one costly repair. 2air is correct in that you should get a detail of ceverages by looking at the contract not the brochure. If the coverage is good and you feel comfortable I think there's room in the $1800 for you to get it for less.
Agreed, $450 isn't a lot of money, but on the other hand that's nearly what we pay for full loss coverage, and that would also cover our annual storage costs - it all adds up. I'm also concerned with the 'fine print', which lists specific components for each appliance ... why doesn't it just say "the refridgerator" or "air conditioner" and leave it at that? Makes me think there's hidden loopholes, but I might be wrong.

Either way we're taking a risk, thats for sure.

Tx.
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Old 10-23-2007, 11:53 AM   #7
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Quote:
Originally Posted by Garfield
Either way we're taking a risk, thats for sure.
i wouldn't really classify it as a risk. you're going to be spending money on your airstream to maintain it anyway. it's not like you write the check to the dealer and that's it. your going to be spending time and money on it to keep it happy. think of it as having another kid, or two .

i've never been one for extended warranties. even when i go into best buy, i decline all that stuff because if something goes wrong in a year, i'll never be able to find the paperwork anyway or remember where i bought it.

$1800 is a lot of money and like the previous posters have stated, the items that would be covered are the ones least likely to fail (which is why dealers offer the extended warranties, it's like taking candy from a baby).

with that said, things can and do breakdown. on a slim chance, so what if you have to spend $1800 bucks out of pocket over the next 4 years because something did break. that would have been the cost of your policy anyway.
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Old 10-23-2007, 12:02 PM   #8
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put that $1800. in a CD bank account or something. be your own insurance agent. you get to keep the interest too!
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Old 10-23-2007, 12:11 PM   #9
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Quote:
Originally Posted by richinny
put that $1800. in a CD bank account or something. be your own insurance agent. you get to keep the interest too!
Actually thats a great idea! Of course you know it won't happen!
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