Words by Wholesale Warranties
When it comes to your personal finances, you know that it’s important to stay informed and protect your investments—like the one you made in your home-on-wheels. One thing most RVers will consider when they’re in a new rig or heading out of manufacturer coverage, is whether or not to purchase an RV extended service contract, also known as an RV warranty. Education is key in making an informed decision on deciding if these RV protection products are right for you. So without further ado, here are five things you may not already know about RV warranties!
1. Extended RV Warranty Eligibility
To qualify for an extended warranty plan, your vehicle has to fall under specified eligibility requirements. Each RV warranty broker has different requirements, so you’ll need to work directly with your provider to determine their guidelines. However, most plans will put caps on model year and mileage. The extent of coverage available will likely also vary depending on whether the vehicle is a motorhome or towable trailer. All reputable warranty brokers will require you to submit your RV to an inspection process prior to signing a contract to address any pre-existing conditions.
Important to note, however, is that both new and used units will qualify for coverage. While many RV warranty conversations take place at the time of vehicle purchase, this is not your only opportunity to invest in coverage. Online brokers cast a wide eligibility net, allowing you to purchase at just about any stage of your RV life.
2. The Manufacturer’s Warranty
If you’ve just purchased a brand-new rig, you may be wondering if you can or should purchase an extended RV warranty while the manufacturer’s warranty is still in effect. The answer is yes, but why would you want to do that?
Manufacturer warranties generally expire after one or two years, whereas extended warranty contracts are meant to be much longer. You likely won’t need the manufacturer coverage while you have it. Most RVs don’t experience major failures until after their second year on the road. Even with proper maintenance and care, your RV will almost certainly begin to suffer breakdowns.
Additionally, manufacturer warranties tend to be more limited than extended warranties in terms of which components are actually covered.
Now, does buying an RV warranty while manufacturer coverage is still in place mean that you have duplicate coverage? Yes—and your manufacturer coverage will take precedence. That said, there are perks to purchasing your extended policy early, specifically when it comes to pricing, term length, and level of coverage available. Simply put, you’ll never get a better deal on extended RV warranty coverage than when the manufacturer policy is still in place.
3. The Claims Process
People often get hung up on how exactly RV extended warranties work. With reputable brokers, the warranty claims process should be straightforward, and look something like this: first, you will take your RV to a licensed repair facility. Before you move ahead with repairs, receive a diagnosis. Then, have a repair facility representative call your policy administrator and provide a diagnosis or diagnoses. Your policy administrator will then review the diagnoses to give pre-authorization. All you will need to do is pay a single per-visit deductible, and for any uncovered items or services. Your repair facility representative will move along with the repairs, and your warranty broker will step in to cover the cost of repairs, labor, and replacement for all covered components via corporate credit card over the phone.
4. RV Insurance vs RV Warranties
In the United States, minimum liability insurance is required for all vehicles—including RVs. On the other hand, extended warranties serve as optional additional protection. Insurance and warranty plans are both intended to protect your wallet from expensive repair costs. However, insurance generally covers damage incurred due to accidents, road hazard, and weather events, whereas RV warranties cover unexpected mechanical and electrical failures. It’s important to understand that the mechanical components on an RV endure quite a bit of stress when traveling, and fail often due to the general wear and tear of life on the road. Your required insurance is not set up to pay for these types of failures, and an RV warranty, while not compulsory, can act as financial protection against these repair costs.
5. What is Covered?
Level of RV warranty coverage varies depending on model type, year, and mileage, as well as the level of risk any given traveler is willing to accept. There are a couple different types of warranty plans: exclusionary and comprehensive. Comprehensive plans are more budget friendly but have a lower level of coverage. Exclusionary policies cost a bit more but cover all the most expensive components—including the ones that are prone to unexpected failures.
You can expect most basic plans to cover both mechanical and electrical components. These generally include engine, transmission, refrigerator, water heater, heating and cooling components, leveling systems, slide-outs, and many more components.
Although RV extended warranties are not required, they are often a worthwhile investment. Unfortunately, RVs tend to break down after just a couple of years on the road. An extended RV warranty plan has the potential to save you hundreds or even thousands of dollars on repair costs. Protecting your investment and travel budget is an important part of owning an RV, and one you won’t want to overlook before hitting the road.