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Which is Better, RV Warranties or RV Insurance?
Warranties and insurance are a bit like your keys and wallet, you don’t want to leave home without them. Buy nearly any electronic or mechanical device and you’ll have the option to buy an additional or extended warranty for that item. Similarly, spend any amount of time watching TV or streaming video and you will be likewise inundated with commercials for insurance. Both are necessary and protect you in different ways. New RVers want to know, what is the difference between an RV warranty and RV insurance, and do I need them both?
What is an RV Warranty?
An RV warranty can come in two forms: a true extended warranty will prolong the manufacturer coverage on a brand new rig, while an extended service contract–commonly referred to as an RV warranty–is offered through a 3rd party provider. The latter has more extensive eligibility, and is available to brand new and used RVs, with coverage details and pricing determined by factors such as age, condition, and mileage (where applicable) of the RV.
Extended RV Warranty
By automobile standards RVs come with fairly paltry OEM warranties. By the time you have taken your maiden voyage, a couple of spring outings, that big summer trip, and a last hurrah trip in the fall, your factory OEM warranty may have already expired. An extended RV warranty makes sense when you consider the amount of items that can fail in an RV: from your engine (where applicable), to appliances, heating and cooling systems, leveling jacks, slide-outs, and more, there’s a lot that can go wrong in a home-on-wheels. . An RV warranty will step in to cover the cost of these failures, including parts and labor, allowing you to save your travel budget for enjoying the road ahead.
So how does an RV warranty work?? There are a variety of coverage options available, but simply put, these policies are there to pay for mechanical breakdowns your rig will face. Think of the mechanical components in your RV: appliances, electrical, engine, waste systems, and more. These components endure the stress of travel, and they fail frequently. The cost of repair can be astronomical, especially with the skilled labor required to fix modern RVs. By purchasing an RV warranty before you hit the road, you can travel with peace of mind knowing that your policy will pick up these repair bills, while you are only responsible for one low deductible
What does an RV warranty not cover? This tends to fall into a few major categories: first, anything covered by your comp and collision insurance, like weather damage, physical damage, and accidents. Next, an extended RV warranty is built for mechanical parts, so aesthetic items like flooring, windows, and fabric will be excluded. And lastly, any maintenance parts or services will be excluded.
Dealer Warranty or Third Party RV Warranty?
So where can you find an extended RV warranty for your rig? The good news is you have options. First, you’ll almost always be offered an extended warranty by your dealer in the process of purchasing. This can be a great offer, but it is also a very profitable enterprise for the dealer. We all want our local RV dealers to stay in business so they are there when we need them. Buying an RV warranty from the dealer is not a bad thing, so long as you have done your homework and feel like they are offering you a comparable value to what you have been able to find on your own.
- You can secure your warranty options before getting to the finance office.
The Problem With the Dealer Experience
RV dealers, much like automotive dealers, are selling that RV warranty to a captive and approved audience. When you walk back to the finance office to buy your new RV, you have already been credit approved. That approval always includes a buffer so the dealer can add in various products, like warranties, undercoatings, fabric sprays, and ceramic paint finishes.
Giddy with visions of Yellowstone and Mount Rushmore in your head, you have no problem agreeing to an extra $20 – $100 per month to protect your investment. The dealer has already done you a solid by adding that warranty into your contract and printing out two dozen pieces of paperwork. The issue is you’ll likely be paying that monthly fee long after your extended warranty has expired
Saying no now would be time consuming, embarrassing, and inconvenient. For those that are willing to push back a bit, you now have to digest all that warranty contract information while the finance manager and your spouse sit (patiently?) by while you read through it. It’s never a great choice to decide between a policy you don’t understand and may be overpaying for, and finally getting out the door with the keys to your dream rig.
Another big problem with the dealer experience is it just doesn’t exist for everyone. Many RVers choose to purchase RVs from a private party who won’t have the resources to offer coverage. This is where many travelers will turn to online providers who offer coverage to new and used RVs alike.
There is a better way
You can be better equipped to handle the dealer, know what kind of RV warranty you are buying, and potentially get a better price by getting a quote from a well established company like Wholesale Warranties.Start your research before you’re feeling the pressure in that dealer F&I office, and you’ll be better equipped to make a confident decision.
Wholesale Warranties
Wholesale Warranties a US-based online warranty broker that’s been serving the RV community for 15 years. They pride themselves on providing the most extensive coverage available in the marketplace by offering competitive pricing and service
Keep in mind, Wholesale Warranties isn’t in a rush to close a big RV sale like your dealership might be. They will take the time and make a concerted effort to educate you on what their RV warranty covers, and, even more importantly, what it does not cover.
There are warranty options for new RVs of course, as well as pre-owned. Motorhomes must be less than 20 model years old with less than 100,000 miles, while towable RVs must be 15 model years old or newer.
If you’re interested in seeing what an RV warranty might cost, working with the experts at Wholesale Warranties is a great place to start. Get a free quote from Wholesale Warranties today and start enjoying your RV instead of worrying about it.
How Do I Get A Quote Before I Buy A New RV?
Whether you’ve locked in the exact RV you’re looking to purchase or have your eye on a few different models, Wholesale Warranties will be able to work up a quote for coverage. You will need the basic RV information, like year, make, model number, and mileage where applicable. While you are working through the buying process, with a dealer or private party, take that information to Wholesale Warranties’ mobile friendly site and get a free quote. Then, when it’s time to close the deal on your rig, you’ll be able to make an educated decision on what level of coverage you want, what price is fair, and which provider makes the most sense for you. You won’t feel bad at all about having them redo that paperwork when you see how much you saved by going directly to Wholesale Warranties.
You will also have had time to educate yourself on what is covered and what is not. These can be great points of comparison. Sit down in the finance office and compare those plans.
An even better option is to relate to the sales team or finance manager on your first visit to the dealer. Tell them you are interested in an extended warranty. Let them know you want information to take home with you. You be better equipped to make a comparison. And any hesitancy on their part to provide you that data up front is a bad sign.
Protect yourself
Take the mystery and fear out of buying an extended warranty. Put yourself back in control of the process. Protect yourself by understanding exactly what is and isn’t covered by your warranty. Whatever your decision is, you can go back to the dealership with confidence. Now you know you are able to make an informed decision. Whether it’s new, or new-to-you, get back in the driver’s seat with Wholesale Warranties.
- RV Insurance covers damage or loss of property for your RV.
What is RV Insurance?
On the surface, RV insurance is exactly what it sounds like. It’s insurance for your RV to protect you and your belongings. The policy can cover you while living on the road. RV insurance is a bit of a hybrid. It hovers between what you might see for your automobile, and some of what you might have for your home.
RV insurance should be purchased and structured to protect you in the following scenarios:
Loss Of Property
In the case of a Total Loss of Property, your RV and all of the belongings therein are declared a Total Loss. Your insurance company is on the hook. They will cover whatever the agreed upon amount of your RV, belongings, and potentially a tow vehicle. This could be from a loss incident while driving, or while stationary. Get clarity from your RV insurance carrier about parking at an RV resort, on your own property, or in a storage facility.
With a partial loss of property, your objective is recouping what may have been damaged or stolen in the event of a more minor incident or theft event.
Coverage While Driving or Moving
For motorhome owners, coverage while driving the RV is going to already be built into whatever policy you procure. For those pulling a travel trailer or 5th wheel it gets a tad more complicated.
What if your automobile or truck insurance and your RV insurance are not from the same carrier? Ensure that you haven’t opened any doors to finger pointing. This can leave you unprotected in case of an accident.
Of course in either case, there will be a liability component aimed at protecting the other driver and their property.
Additional Liability Coverage
Here’s where RV insurance starts to look a lot more like homeowners insuranc. Consider the potential liability of someone visiting your campsite or RV. What if they got injured while doing so? You need to be crystal clear on your coverage.
Full-Time RVer or Not
Convey to your agent you are a full-time RVer. Understand the ramifications on your coverage. Make sure there aren’t any obscure holes in your policy. Ask lots of questions.
Is the prospect of getting RV Insurance a bit overwhelming? Just visit RVerInsurance.com and let the experts provide you a free quote.
Conclusion
An RV warranty protects the RV owner against unplanned repair costs. Examples include when a warrantied part or mechanism fails prematurely within the warranty period. RV insurance protects the RV owner against RV repair or replacement. What if you had an accident? Do you have liability protection?
All around RV industry enthusiast who has been RVing for 8 years and enjoys trips with his wife and dogs in their diesel pusher.
This is a very well-written article. I have reached out to Wholesale Warranties, Coach Net, and a few others asking only one question: Do you cover issues with Newmar’s E-Plex system?
None will give me a straight answer.
I know keys and wallet are most important for us. When we want to go out from home. I don’t want to leave home without them. But I have no detailed idea about Insurance.
From an economist: There are two things you need to know before you can make an informed decision about buying an extended warranty. First, you need to know about consequences. That is, how much will it cost to fix or replace the broken item. If you don’t know the answer to that, the seller of the warranty will be glad to tell you. It will cost hundreds or thousands of dollars. Or it cannot be fixed. You will have to buy a new one. But the other thing- what are the ODDS that you will have a warranty claim. If you had that information, you could make a truly informed buying decision. But you don’t know the answer to that. I promise you that the seller knows the answer to that question with considerable precision and I promise you they won’t tell you. Because if they were to tell you, you would know that the odds are slim or at least so slim that the sale of the warranty is is often more profitable to them than the profit they will earn from the same of the item being covered by the warranty. Always. If you have the discipline, it is always a better deal for you to bank the cost you would have paid for the warranty in your own bank account.
Read your RV Warranty carefully before you purchase. You may find that to maintain the already poor warranty that you have to deliver your RV to the dealer annually for a checkup to maintain the warranty. Read the exclusions too. The RV OEM’s are not giving much away and their warranties are often little more than a sham. Read it BEFORE signing.
While insurance is sort of a no-brainer, extended warranties do not pay off or pay for themselves. You would be better served to put your own money into a separate account intended to pay for equipment failures or replacement. Quite often people pay for extended warranties for years without any expenditures and then have to fight to get the company to honor their agreements. Nah. Not worth it from my experience.
Don’t waste your money on warranties, they are expensive and when you truly need them there is always an out for the warranty company. It seems with our situations the warranty covers everything that seldom goes wrong and doesn’t cover the things that do. It’s almost like walking into a gambling casino….the house almost ALWAYS wins. Remember, the camper company (Keystone) has gotten paid by the dealer. The (extended warranty) company has gotten paid by you. But you as the customer won’t get paid on your claim and if by chance you do, the “deductible” is usually so large you end up paying most if not all the bill. Just an FYI from an experienced camper!!