There is a lot to think about when purchasing a new RV or thinking about securing protection for your well-loved rig. Either way, you are likely very aware that RVs are a considerable investment. With that in mind, you’ll want to know how to best protect your travel budget in the event of a major breakdown. Most RVs will face a significant breakdown within the first five years of service. The strategic, cost-conscious choice would be to secure a protection plan, or an RV extended warranty. But what exactly does that entail? Here are five things you may not know about RV warranties!
An Affordable Solution
It’s understandable that one may be hesitant to shell out cash for a protection plan. After all, what if you don’t end up needing it? This is unlikely to be the case. Over 30% of RVs will need major repairs in just their second year on the road. Nearly every RV will require hefty repairs after eight years. With each passing year, the risk for breakdown increases. Repair costs are high, and with rapid technological improvements, they are only rising.
Serious breakdowns are enough of a hassle without the added stress of spending hundreds, even thousands of dollars on repairs. With an RV warranty, replacing covered components will be so much more manageable without the lofty price tag attached. Having an RV extended warranty plan in place will ultimately save you money and give you peace of mind on the road.
For those who don’t wish to purchase a warranty in full outright, Wholesale Warranties also offers payment plans that can be paid out over several months. Having this option in place is helpful for those on a budget, or for anyone who just doesn’t want to pay in full upfront. This flexibility allows us to accommodate customers’ financial needs.
Some people may be hesitant to commit to purchasing an RV extended warranty plan because they aren’t sure how long they’ll keep their current RV. Many travelers switch up their rigs often—we get it. That’s why, with
Additionally, if you are looking to trade in your RV and have a policy with us, you can cancel that policy and receive a pro-rated refund.
Breakdowns often involve the failure of multiple covered components. Prospective warranty buyers often ask whether they will be charged a deductible on each item. Clients often file claims on multiple components at a time, so this would add up quickly. However, you will only have to pay your deductible per repair visit—not per item! That way, if there are several covered repairs required within a single visit, you will only pay a single deductible.
Levels of Coverage
When it comes to RV warranties, there is no such thing as a one-size-fits-all coverage plan. RVs come in a variety of shapes and sizes—from fifth wheels to Class As—so it just makes sense for warranty plans to be customizable. Because Wholesale Warranties is a third-party broker, we offer a wider selection of policy options than an RV dealer. We have options for motorhomes, trailers and 5th wheels, pop-up campers, and even the towing vehicles!
Wholesale Warranties also offers varying levels of coverage; some RV owners may only be interested in paying for a plan that covers basic systems, for example. They also have the option to add on coverage for special components, which include minor appliances and technological devices. Your RV warranty should fit your needs, your budget, and your desired level of risk.
What About the Manufacturer’s Warranty?
So maybe you’re about to purchase a brand-new RV from the dealership, or you already have. That vehicle is likely already under a year+ manufacturer’s warranty. You may ask yourself, why would I need an extended warranty now? Shouldn’t I just wait? Not necessarily—purchasing an extended warranty policy for your new rig may end up saving you more money in the long run, which is why it’s important to consider.
Some people would prefer to wait until the manufacturer’s warranty expires before buying an extended warranty. The overlap may seem unnecessary, and no one wants to spend money a lot of money on something they feel they don’t need. However, you will always get the best deal on a policy within the first year of a new RV ownership. One will want to consider locking that policy in early, ultimately saving you money.
Additionally, the manufacturer’s warranty may be more limited when it comes to what is and isn’t covered. For instance, they don’t offer long-term coverage and typically expire within a year or two. Because RVs are least likely to suffer major breakdowns in the first two years on the road, you probably won’t even use that coverage when you actually need it. Purchasing an extended warranty while your vehicle is still under manufacturer coverage ensures you get the best rates possible.
So, did you learn something new? If you’re interested in getting an RV warranty quote for your unit, simply enter your information below, and we’ll reach out to you with even more RV protection education!