RV Extended Warranties — Are they worth it?
RV warranties… the part of RVing no traveller wants to think about. It’s protection for the worst-case scenarios, and serves only as peace of mind in the best case. Is an RV extended warranty right for you? Do you need it if you already have insurance?
What is an RV extended warranty?
An RV extended warranty is protection that extends beyond your manufacturer’s warranty to cover the cost of repair to many mechanical and electrical failures that occur in your rig during the lifetime of the policy. These contracts should clearly define what is and is not covered on your rig and offer between 1 and 7 years of coverage.
I already have RV insurance. Do I need an extended RV warranty?
Simply put, you’re required by law to have comprehensive and collision RV insurance while driving a motorhome in Canada. In contrast, a warranty isn’t a legal requirement. These policies are optional coverages to protect against the things that insurance wouldn’t cover, such as engine failure.
What’s the difference between RV insurance and an RV warranty?
Insurance is designed to cover costs associated with incidents like collision, natural disaster, and theft. Conversely, an RV warranty will cover the repair expenses for all of the components that make your RV move when these failures are not associated with collision or physical damage. Having both can be the best one-two punch.
What’s the benefit of an RV warranty?
Repair costs are constantly rising. As RVs become increasingly complex, the demand and cost for highly skilled labour and technical parts increases as well. An RV warranty benefits your rig and your wallet by paying your repair bill so you can use your travel budget on what it’s meant for: adventure.
Beyond the immediate relief to your bottom line, warranties also help increase the resale value of your rig should you decide to sell. Not only does it indicate that the RV was properly maintained, but the contract can provide extra value as transferred coverage to your prospective buyer.
The main traits that determine the quality of the warranty include the options available, the contract specialists, post-purchase support, and an unlimited network of repair facilities.
As a buyer, you’ll want to purchase a personalized policy that fits your travel style and rig. Make sure your salesperson is an expert on warranties and can explain the policy in black and white. You should never buy a policy you haven’t seen the full terms and conditions of.
What does an extended RV warranty cover?
Extended warranties are built to cover expenses associated with the failure of mechanical and electrical components on your trailer or motorhome. Depending on the level of coverage purchased, this can include everything from your diesel engine and transmission to your slide-outs, levelling systems, appliances, heating and cooling.
A comprehensive policy will list everything that is covered — if something fails that isn’t listed in the contract, it won’t be covered. An exclusionary policy does the opposite: it lists every component that’s excluded from coverage. Exclusionary coverage is the most extensive option. A basic or powertrain-only policy covers the most catastrophic possible failures to items such as your transmission, engine, and drive axle.
What isn’t covered by a warranty?
Not everything will be covered. Anything that would be covered by your RV insurance, such as damage caused by collision or weather, will be excluded. Generally, things like upgrades, lamps, and weather stripping will not be covered. Maintenance items like belts, hoses, and brake pads, as well as maintenance services like oil changes, will also be excluded. Aesthetic items such as paint and furniture are not mechanical or electrical, so they’re not included.
How much does coverage cost?
The major factors likely to play a role in pricing include your vehicle’s mileage, age, make, model, and value. You’ll often find that locking in many years of coverage at once will provide the best average per-year pricing. Normally, the cheapest warranty with the longest term you can purchase is when your vehicle is still under its manufacturer’s warranty.
Bottom line: your RV costs a lot of money and has potentially many specialty parts. Protect yourself and get peace of mind with an extended RV warranty. Ask us about the options.