Good extended warranty company - R-pod Owners Forum

Looking at getting an extended warranty. Thoughts? Suggestions for a good company?

An extended warranty is an insurance policy. Like all insurance, there are two sources of profit for the insurance company: using your money for investments while they wait for your claims to come in and winning the bet with you that you will not have covered losses. The bet they make is one of averages and depends on having a large pool of insureds so if a big loss occurs it can be "socialized," i.e. everyone of their insureds paying a portion of it. The idea in the bet is that the insurance company wants you to be motivated to avoid the loss, so it is less likely to occur, such as dying or having a crash with your nice new Honda Ridgeline.

If you are looking at extended warranty insurance, be sure to carefully read the exclusions listed in the insurance policy. The kind of off road use that OG mentioned would probably be considered misuse of your trailer and would likely be excluded. Most extended warranties have exclusions that are similar to the original warranty.

Another consideration for an extended warranty is the magnitude of the risk you are taking on. For a low end trailer such as the ones most of us have on this board, by the time you factor in the exclusions, the value of the policy is just not worth it, especially if you are "handy" and can do most of the repairs yourself. On the other hand, if you are considering an extended warranty on your brand new Ram 2500 offered through whatever the heck they call the former Chrysler Motor Corp. these days, it may be worth it. The risk of a computer board failing is significant and the cost of replacement can be breathtaking. Effectively, you are betting with the insurance company that your prepayment for major repairs with today's dollar will be a better deal for you than paying with buckets full tomorrow's dollars at a time when you may not be able to sustain such a big loss. You are essentially buying peace of mind. But, all that being said, be sure to understand what the insurance/warranty covers and what it excludes, as well as how the deductibles work.

Personally, I wouldn't bother with an extended warranty for our trailer for the reasons OG suggested. On the other hand, I bought an extended warranty to 150K miles for our F-150 for the peace of mind that when costly stuff breaks, I will minimize my out of pocket cost and in recognition that I don't have a clue how to fix the covered stuff.

Never leave footprints behind.
Fred & Maria Kearney
Sonoma 167RB
Our Pod 172
2019 Ford F-150 4x4 2.7 EcoBoost

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R Pod Members Profile Send Private Message Find Members Posts Add to Buddy List Newbie Joined: 13 Dec 2022 Location: WI Online Status: Offline Posts: 8	Post Options Post Reply Quote R Pod Report Post Quote Reply Calendar Event: Good extended warranty company Posted: 28 Dec 2022 at 7:39pm
	Looking at getting an extended warranty. Thoughts? Suggestions for a good company?

offgrid Members Profile Send Private Message Find Members Posts Add to Buddy List Senior Member Joined: 23 Jul 2018 Online Status: Offline Posts: 5290	Post Options Post Reply Quote offgrid Report Post Quote Reply Posted: 29 Dec 2022 at 4:08am
	IMHO, extended warranties are generally a waste of money. The companies offering them make money based on what they have learned is the average rate of warranty claims. Meaning that, on average, you will be better off fixing things when they break, even if you're not fixing them yourself. On on top of that, if you care for your possessions better than the average owner then you will be even further ahead. On top of that, if you are even a little handy and can fix some things yourself, you will be even further ahead. The exception is if you know you have a case where an item is going to be significantly more prone to needing repair than average. For example, I purchased optional flood insurance when I owned a low lying house in Hatteras NC because it was guaranteed to get flooded by hurricanes every few years. Once I raised the house I dropped the flood insurance. So if you plan to take your rpod down bad dirt roads at 50 mph and can get extended warranty coverage for axle and frame damage, you might want to opt for that.
	1994 Chinook Concourse 1995 RV6A Experimental Aircraft 2015 Rpod 179 - sold

lostagain Members Profile Send Private Message Find Members Posts Add to Buddy List Senior Member Joined: 06 Sep 2016 Location: Quaker Hill, CT Online Status: Offline Posts: 2587	Post Options Post Reply Quote lostagain Report Post Quote Reply Posted: 29 Dec 2022 at 10:06am
	An extended warranty is an insurance policy. Like all insurance, there are two sources of profit for the insurance company: using your money for investments while they wait for your claims to come in and winning the bet with you that you will not have covered losses. The bet they make is one of averages and depends on having a large pool of insureds so if a big loss occurs it can be "socialized," i.e. everyone of their insureds paying a portion of it. The idea in the bet is that the insurance company wants you to be motivated to avoid the loss, so it is less likely to occur, such as dying or having a crash with your nice new Honda Ridgeline. If you are looking at extended warranty insurance, be sure to carefully read the exclusions listed in the insurance policy. The kind of off road use that OG mentioned would probably be considered misuse of your trailer and would likely be excluded. Most extended warranties have exclusions that are similar to the original warranty. Another consideration for an extended warranty is the magnitude of the risk you are taking on. For a low end trailer such as the ones most of us have on this board, by the time you factor in the exclusions, the value of the policy is just not worth it, especially if you are "handy" and can do most of the repairs yourself. On the other hand, if you are considering an extended warranty on your brand new Ram 2500 offered through whatever the heck they call the former Chrysler Motor Corp. these days, it may be worth it. The risk of a computer board failing is significant and the cost of replacement can be breathtaking. Effectively, you are betting with the insurance company that your prepayment for major repairs with today's dollar will be a better deal for you than paying with buckets full tomorrow's dollars at a time when you may not be able to sustain such a big loss. You are essentially buying peace of mind. But, all that being said, be sure to understand what the insurance/warranty covers and what it excludes, as well as how the deductibles work. Personally, I wouldn't bother with an extended warranty for our trailer for the reasons OG suggested. On the other hand, I bought an extended warranty to 150K miles for our F-150 for the peace of mind that when costly stuff breaks, I will minimize my out of pocket cost and in recognition that I don't have a clue how to fix the covered stuff.
	Never leave footprints behind. Fred & Maria Kearney Sonoma 167RB Our Pod 172 2019 Ford F-150 4x4 2.7 EcoBoost

Good extended warranty company - Event Date: 28 Dec 2022