As RVers and consumers, we are always asking ourselves, ‘when is the perfect time to do something?’ The truth is, if you’re asking yourself this question, the perfect time is… NOW! People usually tend to wait around for the perfect opportunity or moment but the reality is, choosing to wait might just cost you money.
This philosophy also applies to purchasing an extended RV warranty. Let’s break down when you should invest in coverage, and why.
When You Should Purchase an RV Warranty
A lot of RVers are under the impression that warranties are only available through dealerships or manufacturers, and only for new RVs. The truth is, most motorhomes are able to get warranty coverage at any point during their lifespan! You don’t have to have a brand-spanking-new rig to get a warranty. New, used, and third-party purchases can all be eligible for an RV extended warranty thanks to the rise of the digital age, and online RV warranty brokers who focus on selling policies to RVers of all lifestyles and budgets.
When should you buy? NOW! The longer you hold out on adding an extended service contract, the more expensive it gets. Eligibility requirements are also harder to meet. For instance, every passing year, your rig is considered a model year older. Older rigs are more expensive to cover as they are more prone to failures. This is why the earlier you add coverage, the better.
How Does Eligibility Change Coverage?
When you’re trying to get coverage for your home-on-wheels, there are eligibility factors that have to be met. When your Warranty Specialist is building out a free quote, they will ask you a variety of questions such as the make, model, mileage, and year. These are key factors that will determine the type of coverage that is available for your rig. This will also determine the cost of an RV extended warranty. The older your travel trailer or motorhome is, the higher the cost will be to add protection. Because older rigs are more likely to break down, the cost of mechanical and electrical failures increases. On the flip side, newer units still under manufacturer’s coverage have lower warranty costs—and these savings are a huge benefit to adding coverage early on in your rig’s life.
Motorhomes need to be below 100,000 miles to cover the powertrain, and below 125,000 miles to cover coach-only components. When deciding between Exclusionary, Comprehensive, or coach-only coverage, eligibility will determine what type of policy will be available. Full coverage is only available to rigs aged 15 model years and newer. The model year is a major factor in determining coverage. If you are unsure, call the online broker directly and get answers from a dedicated Warranty Specialist.
Additionally, it’s important to know that your RV is considered one model year older every January 1st. It’s wise to activate your policy before the end of the year to avoid holiday overlap and the winter season when most RVers put their rigs in storage.
Also of note? A good portion of breakdowns and subsequent RV warranty claims come from winterized RVs coming out of storage during the spring. RVs are meant to be used, not sit idle for long periods of
time. Lock in your RV warranty before putting your rig in storage, and any covered breakdowns will be paid for by your protection. Wait until spring and you’ll be stuck paying for these repairs!
Should You Wait for the Manufacturer’s Warranty to Expire?
Simply put, not if you want to get a good deal on coverage. Ultimately, you will end up saving more money in the long run by activating your coverage early on. Remember, the older the rig, the more costly it is to cover. When your motorhome or towable RV is new, you will get longer term coverage at a lower rate. Additionally, you can “double-up” on warranty coverage by having both the manufacturer warranty and an extended RV warranty. For example, if your manufactures warranty does not cover a certain repair or component, your extended RV warranty is there as a backup to cover those repair costs.
A full manufacturer’s warranty generally lasts about 1 year. You most likely will not use this coverage during this first year, but the reality is RVs tend to need bigger repairs as they approach their second and third year on the road. With an extended warranty, you can get coverage for up to 7 years. With an RV extended warranty, you’re not just paying for additional coverage, but your policy may even cover tire & wheel protection, roadside assistance, and RV tech support when you need it most. Most importantly, the added peace of mind when you’re traveling.
So, when should you buy an RV extended warranty? Now! Waiting for the “perfect” moment won’t benefit you or your wallet.
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