The Key to Understanding RV Extended Warranties
There are four basic types of Extended Warranty Protection available for your RV.
These are actually called “Vehicle Service Contracts” and are commonly referred to as Extended Warranties.
Powertrain Policy
The first common policy type, referred to as a “Powertrain” policy, would apply to your basic powertrain components. These components include the engine, transmission, axle, oil seals, supersonic or turbocharger, etc. These parts keep your vehicle going. This type of coverage obviously wouldn’t be available for towable type RV’s which do not contain their own form of propulsion (engine).
The parts listed for Power Train are typically the most expensive parts to replace on a motorhome especially when Diesel engines are involved. This is also why it is so important to make sure these components are covered on your RV.
“Stated Component Coverage” or “Listed Component“
These policies consist of a very long list of parts and components and include all previously mentioned in the Power Train plan, but include even more. All equipment specified in the policy is required to include: air conditioning, brakes, electrical components, front and rear suspension, fuel system, etc.
The Stated Component plan will cover your most important RV components, as well as some extras. These types of contracts include a rather large itemized list of different components and is very clearly laid out on the contract itself. The best way to determine if one of these contracts is right for you is to find the itemized list on the contract and know that if its listed as a covered part on the policy’s list of covered parts then it is covered.
Exclusionary Coverage
Exclusionary Coverage is known as the top of the line type of coverage. These policies blend the Power Train Coverage, as well as Stated Component Coverage, into a broad level of coverage. It can be slightly tricky to understand how these policies work due to the fact that they don’t list what is covered, rather it has a very small list of items that are “Excluded” from the coverage.
This means that everything on the RV is covered except for a small list of items that are not covered. This list typically consists of items that are considered “wear and tear” items, such as brake pads, awning material, rubber seams on the outside of the RV that are supposed to be replaced when worn, etc.
Just like “Stated Component” coverage there is a list on the contract of what is “Excluded” from being covered. The easiest way to make sense of these types of policies is to remember: If it isn’t listed on the list of items that are “excluded” it’s covered. This eliminates the need to have a painstakingly long list on the contract where everything the plan covers is mentioned item by item.
WRAP Coverage
When you purchase a new RV from a dealer, the manufacturer will often include a factory warranty for a short period of time. This warranty is typically broken up into two parts, one being “bumper to bumper” and the other being “power train”. This type of coverage usually lasts for the first 12 months after the RV is purchased and covers the major components of your RV.
To put it simply, WRAP protection covers everything on your RV that is not covered by the included manufacturer warranty until it expires. It affectively “WRAPS” around your existing coverage to offer you more protection against repairs on items that aren’t covered.
Each of these policy types play a different but important role in protecting you from costly RV repairs.
It is best to note the importance of dealing with a reliable and respectable extended warranty retailer to ensure that the claims are paid, consumer needs are met, and that underwriting company that is insuring the policies has a long history of providing quality service contracts for the foreseeable future.
NoRepairCost.com has a long working relationship with the best underwriting companies in the business. We are backed by an AM Best A Rated insurance underwriter, Virginia Surety.
If you have any questions about how these type of coverages can work for you, please feel free to give one of our sales reps a call to help you make your decision.
