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What does an RV Extended Warranty Cost?

February 13, 2021

For RV (Recreational Vehicle) owners wanting the ultimate peace of mind for their home away from home, extended RV warranty programs make a lot of sense. Online blogs and forums are full of information nowadays regarding RV warranties and their coverage. The question that remains unanswered is: “what is the cost of an RV warranty?”

Costs vary from company to company.  Warranty providers will ask RVers to provide details about their RV before offering a quote. Price tags for warranty plans will vary from $1,000 for a short-term travel trailer to upwards of $10,000 for a top-of-the-line, high mileage motorhome.

Several different contributing factors influence RV warranty pricing. 

Class A RV’s are more expensive than other RV types, including fifth-wheel trucks, toy haulers, and travel trailers. 

The more expensive the RV, the greater the cost for available coverage. 

Newer units are less likely to have problems and therefore cost less to fix. 

Premiums for exclusionary plans are more costly than plans that cover what’s called “Stated Component” or “Listed Component”.  

When you buy – RV owners usually pay more when financing the purchase, particularly when buying from an RV dealer.  This is largely because an RV dealer will usually try to amortize the cost of the warranty into the payment.  This keeps the payment low but means you will pay more in the long run because you’re now paying interest on the warranty much like a loan.    

Coverage costs are higher for motorhomes than travel trailers because they include both the coach and the mechanical components of the automobile portion of the vehicle. They also have two different styles of air conditioning—one for the dashboard and another for the coach (roof AC).   Additionally, a mechanic charges a lot of money to diagnose, fix, and maintain faulty engine, transmission, and drivetrain parts. 

Class A motorhomes are more costly to secure than the other classes, due to their size and resulting expense. 

Since towable RVs such as fifth wheels and travel trailers have the least expensive protected items, the warranty coverage is less expensive compared to a motorhome. Significant mechanical failure for engines simply costs more than other products such as the water heater or refrigerator by a wide margin.

The premium for different towing vehicles depends on the size and fitted features. 5th wheels and toy haulers are larger and fitted with more amenities. 

Does my Make and Model affect price?

Models with more functionality and higher quality components usually cost more to fix, which raises the service contract cost for the top of the line model. 

Although not so common anymore there were some RV manufacturers that would build their vehicles to accommodate technicians, making it more lucrative for repair shops to fix the vehicles. This can raise the cost of extended warranty coverage. 

What about the Year of Manufacture and Mileage on my RV?

The open road causes harm and wear on any vehicle traveling down it, and living the RV lifestyle causes wear and tear on all parts of the device. This is a subject that dealerships, service centers, and repair shops in the industry understand well. This is why it’s worth so much more to purchase a new vehicle if you can, and why the insurance and warranty rates are the lowest for new and late-model vehicles. 

Older RVs will have more problems than new ones, because they’re more costly to repair. According to some warranty figures, over 80% of recreational vehicles need repairs within five years of use. At eight years, most RVs will need some form of repair. 

What are my Coverage options?

Extended warranty coverage prices depend on the type of program that is selected. There are essentially two type of extended warranty coverage available.   In addition to exclusionary plans there are is something called listed component coverage.  Listed component referred to as stated coverage, states what items the warranty covers.  Exclusionary policies cover everything on the RV other than what the contract says is “excluded” from being covered.    Further information about the variations between exclusionary RV policies and inclusionary coverage can be found on our website. 

What is the difference between “exclusionary” and “stated component” coverage?

“Exclusionary” plans are the premium coverage plans and exclude far less than stated component coverage plans.  This sets the price slightly higher typically but offers a substantially higher piece of mind.  Exclusionary contracts are also more accessible and understandable for customers. The most successful warranty product is a combination of low price and good match for your needs. 

Warranty policies that cover wear and tear for tires such as potential blowouts or damage caused from blowouts also raise the total price of the policy.   Various organizations have various warranty add-ons.  A rather nice feature that NoRepairCost.com offers is something called mobile service plus.  This Feature allows the policy holder to use a mobile service technician for any level of service needed.     

Roadside assistance is another common warranty add-on for most warranty companies.  The policies sold through NoRepairCost.com include several roadside assistance services at no additional cost.  These  Roadside assistance packages offer tow services along with Trip interruption reimbursement, as well as other emergency features that come in handy should you become stranded. 

Choosing a higher-deductible plan will minimize the total cost of your policy but will also come with a slightly higher out of pocket expense with every trip to a repair facility. 

The longest warranty terms are given to newer RVs.  Since most new RVs receive a limited warranty and are less likely to break down, a warranty salesperson can give a rate that offers a significant discount compared to a contract bought when the RV is a few years old.  Often, it’s easier to purchase a longer plan on a new model than it is to buy a shorter plan on an older model. 

There are several pros to buying an RV warranty early on in the RV’s life. i The manufacturer warranty typically covers various components of the RV for the first year however,  It is important to note that most manufacturers have varying levels of coverage for different periods of time. oBuying a warranty before your factory warranty expires means that your RV won’t ever be without coverage.  The warranty pricing at NoRepairCost.com reflects the fact that your motorhome is covered for a the first year by the manufacturer.  This means that the first year’s coverage isn’t something you have to pay for.      

Part-time or for-profit

RV extended warranty companies will charge a premium for RVs that are maintained for commercial or full-time service. Because of continuous use, the RV is subjected to more pressure, wear, and tear. This leads to increased risk of failure.  However, as full-time RVers can testify, a warranty can offer much needed peace of mind.  

If you are considering living in your RV year-round and wondering if a warranty is right for you, consider feedback from other RV owners, read RV forums, and visit the Better Business Bureau to get a better understanding of this decision. Ask a sales associate who the underwriting company is that is insuring the policies.  These underwriters have a rating system that they are graded by and you can learn a lot about the quality of the policy by reading these reviews.  

Where to buy RV Extended Warranties

There are two options when purchasing an RV warranty: from the dealership when you buy the RV; or from a warranty company like NoRepairCost.com.  Dealerships typically charge more money for warranty policies than an independent seller because they have more overhead.  NoRepairCost.com is a licensed, bonded, and insured automotive and RV dealership.  However, We don’t sell vehicles.  We only sell warranties and thus don’t have the overhead of a conventional dealership  We are able to pass this savings on to our clients when they purchase one of our A rated RV warranty policies.        

Buyer Beware!

Just because something is the most expensive doesn’t always make it the best option.   When RV buyers finance their motorhome or travel trailers from a dealership it is not uncommon for the dealer to amortize the cost of the warranty into the loan payment.  This can cost the buyer thousands of dollars over the course of the loan term.  

Vehicle financing programs that are funded by dealerships have less convenient return policies. The scheme is financed but consumers fee aren’t refunded immediately. Instead, they make less purchases and they allow consumers to make these payments back for longer periods of time. Product plans that are bought directly from a warranty provider provide pre-approved substitutes for the product. 

By buying directly from an extended warranty provider, you will be able to “shop” other quotes and take your time doing more in depth due diligence as to wether the business is trustworthy and provides you with acceptable value for your money. 

Reading the fine print…

Any reputable warranty provider won’t have any issue providing you with a sample contract for you to review.  Keep this in mind when shopping for a policy that is right for you.

I suggest searching for warranties for businesses that are backed by an insurance provider. Many of the less reputable firms are backed by risk retention organizations which are significantly less credible.  Companies backed by an insurance provider ensure that customers receive coverage even if the dealership or warranty retailer goes out of business.  Risk retention groups don’t have the ability to offer this built in safety net.   

Not All Coverage is Created Equal!

What Makes an RV Warranty Worth It?

Warranty coverage for your RV is a binding legal contract between you and the warranty retailer. This plan provisions for repairs after your RV manufacturer’s warranty expires.

A warranty acts as a protection and peace of mind in the unfortunate event that your RV breaks down due to a mechanical failure or a covered component of the RV fails.  RV repairs are rarely cheap, and it seems like the prices are only getting higher the more complex Rv’s become with added technology.  The good news is, warranty holders only have to pay their deductible in order to receive repairs on their RV.  The warranty company pays the difference of the bill directly to the RV repair facility.  A diesel engine repair on an RV can cost upwards of 10 thousand dollars but a covered RV owner would only have to pay the deductible amount.

Extended warranties are not insurance policies in that they are not meant to fix your vehicle when it’s in the shop due to collision or other physical damage. In the event of collision-related damage, you will want to contact your insurance provider.

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