By Wholesale Warranties
What most RVers don’t know can hurt them!
The harsh reality is that RVs suffer breakdowns, and even minor or common repairs come with hefty price tags. At Wholesale Warranties, we are experts in the RV protection industry. We have first-hand experience with thousands of claims every year, made by RVers who have run into unexpected and often unaffordable repairs during their travels.
Here, we’ll go over surprising claims statistics, and utilize our extensive RV coverage knowledge to help travelers plan for and manage these unexpected expenses.
Most common RV failures
The in-house claims staff at Wholesale Warranties have compiled eye-opening component failure statistics to help RV owners budget for common repair costs. Here are the Top 10 most claimed components from 2013 to 2015:
- Air conditioning
- Leveling jacks
- Refrigerator/ice maker
- Power step
- Water system
The Top 10 Items with the highest average claim costs include:
- Rotor = $6,522
- Engine = $2,458
- Transmission = $2,343
- Radiator = $2,086
- Inverter = $1,713
- Fuel injector = $1,282
- Hydraulic pump = $1,232
- AquaHot = $1,143
- Refrigerator/ice maker = $986
- Leveling jacks = $958
These numbers shed light on the grim reality surrounding the likelihood and cost of RV repairs. RVs are complex machines containing an array of modern mechanical components, all of which endure the stress of constant rattling and shaking during your time on the road. It only makes sense that RV breakdowns are inevitable — and they’ll cost you.
Luckily, there is good news! In a time when labor rates and part costs are skyrocketing, more RVers than ever are turning to extended warranties for protection from these expensive repair bills.
What exactly is an RV warranty?
RV warranties are often a hotly debated topic among RVers, but most of this stems from past providers who did not hold up their end of the deal when it came time to pay for covered failures.
There are a plethora of misconceptions about RV warranties, but at the end of the day a reputable RV warranty contract can protect your RV budget, and allow you to travel with peace of mind. The best way to ensure you’re getting what you pay for is to know what type of coverages are available, what level of risk you desire to take on, and who exactly you’re purchasing your protection from.
What do RV extended warranties cover?
Common items typically covered under an extended service contract or RV extended warranty include electrical components, slideouts, generators, radiators, engines and appliances, such as the often-failed refrigerator.
When looking for the right contract for you, make sure that you are given a full copy of the contract to review before you make any type of payment, as this is the only way to be sure you have coverage for the items you’re concerned about most. Here are some of the things extended warranties typically cover:
Listed component — A comprehensive warranty will cover most of the mechanical components in your RV. When reviewing a listed component or comprehensive RV warranty, you’ll want to pay attention to the itemized list of covered components. If it’s not on this list, it’s not covered! A listed component policy works great for RV owners who want affordable coverage and the option to add upgrades to tailor the contract to their needs.
Exclusionary — As the highest level of coverage offered, exclusionary RV warranties work perfectly for RVers who desire the lowest risk possible regarding breakdowns. Exclusionary policies will cover every mechanical component on your coach, except for items that are specifically listed under the “what is not covered” section in the contract. Exclusionary policies are typically one of the more expensive options, but the extensive coverage is usually fair to the price.
Consequential loss add-on — In the world of warranties, things are divided between covered items and excluded items. The two will occasionally meet in a claim situation where a certain covered component will fail due to damage from a part that is not covered, such as a maintenance item like a belt causing damage to a main component such as your engine. In cases such as these, that covered part will be denied, as the root cause of the failure is specifically excluded by the contract. However, some contracts will offer consequential damage or consequential loss, which provides coverage in the event a non-covered part causes the failure of a covered part.
Look out for “too good to be true” coverage
It’s important to understand that not all sales processes are created equal, and you may find yourself in a situation where you are receiving information that is stretching the reality of coverage. Specifically, a warranty described as “bumper-to-bumper coverage” or “this warranty will cover all items on your coach” is simply overstating coverage.
Bumper-to-bumper coverage is a fairly common term, but in reality there is no policy that will cover every item on your coach. While the exclusionary policy described above covers most mechanical components in your RV, there will still be items that are not covered, such as hoses, belts, molding, rust or corrosion, and similar maintenance, aesthetic or physical damage items.
A reputable RV warranty provider will always give you a realistic expectation of coverage, meaning they won’t be afraid to tell you exactly what is excluded by the policy they are offering.
How to find the good guys
If RV warranties are so hotly debated, the most important question is: how do you spot the good guys and the best information? You have a few options when searching for a warranty, as both RV dealerships and online companies, such as Wholesale Warranties, provide options for coverage. To feel confident in your purchase, keep a few things in mind:
Always confirm that the extended warranty is backed by an A-rated insurance carrier so that you will be covered no matter what happens to the provider.
Like we mentioned before, a reputable provider will give you a copy of the full terms and conditions of the contract, which is essential to understanding which items will be covered on your coach, and which ones won’t.
Check the seller’s credentials with consumer advocacy groups such as the BBB, online reviews, RV forums, and RV lifestyle clubs such as the Escapees RV Club.
Investing in an RV extended warranty is an important decision, and should be executed with knowledge and trust.
For more information, visit www.wholesalewarranties.com.