There are some good reasons as to why you might want to buy an RV extended warranty, but peace of mind and risk management for your budget are two of the most significant.
That’s because an RV extended warranty works like insurance against future breakage or failure of an item which is no longer supported by the manufacturer.
While an RV extended warranty is by no means an easy way to get everything fixed should anything go wrong, it can certainly offer you the extra coverage and assurance that comes with having added a safety net.
Specific Categories of RV Extended Warranty
There are a variety of RV extended warranty options available for purchase.
- Inclusionary Policy: This is the most common and affordable policy. Coverage is limited to the specific items listed on the contract.
- Exclusionary Policy: This policy only lists items which are NOT covered. This means if an item isn’t on the list, it’s covered. It is a more expensive policy but offers more comprehensive coverage.
- Consequential Damage: This policy covers damage that your warranty does not.
- Powertrain Only: This policy covers the breakdown of your engine, transmission, and drive axle—all of which are very expensive repairs.
- Coach Only Contract: This is an inexpensive policy option that covers most components, except for the powertrain. This is a good option for high-mileage RVs that don’t qualify for more robust coverage.
No matter which policy you choose, be aware that none of them will typically include the following:
- Regular maintenance
- Pre-existing items
- Roadside assistance
- Repairs for rust, corrosion, or poorly maintained vehicles
Beware of the Fine Print in an RV Extended Warranty Policy
Before you sign on the bottom line, make sure you understand the ins and outs of the RV extended warranty policy. On top of knowing the term limits and deductibles, there are a few other fine-print details you should find out.
Check RV Extended Warranty Coverage for Full-Timers
Not all policies are valid for full-time RVers and some require a surcharge.
Understand Transfer and Cancellation Policies
You want to make sure you can transfer or cancel your RV extended warranty should you decide to trade or sell your RV.
Follow Manufacturer-Recommended Maintenance Schedules
If you don’t perform all the required maintenance and keep records of it, any claim may be denied.
Follow Policy Procedure
Anytime you need to file a claim, be sure to follow the policy procedure exactly. RV extended warranty companies require any damage to be assessed up front, perhaps by their own inspector.
Approval needs to be given for repairs before they’re done and coverage will often only cover a certain labor rate, number of hours for repair, and repair shop.
So . . . Should You Get an RV Extended Warranty?
If you’re buying a brand new RV, it should come with a 1-year manufacturer-backed warranty. Whether or not you secured financing through Southeast Financial, we have extended warranties available. Ask us about extending that warranty by 1 to 7 years.
If you’re buying a “new” used RV then talk to Southeast Financial about an extended warranty that can cover you anywhere in the country.
If you have an older RV, talk with us and see what kind of warranties we have to cover older RVs, and for how long.
If you decide to purchase an RV extended warranty, we invite you to consider Southeast Financial instead of buying it through the dealership. Dealer-sold warranties tend to be very costly and offer far less coverage than those you can get through third-party insurers.
If peace of mind and a lower risk to your budget is worth it to you, an RV extended warranty is definitely a good way to go.