As the economic market fluctuates and people consider their finances, RVers may wonder when is the right time to buy an RV extended warranty. Whether you’re an avid full-timer or a weekend RVer, sticking to a budget is crucial. When it comes to significant financial decisions, knowing your options—and what will save you money—is essential.

Why Buy an RV Extended Warranty?

RVs are prone to mechanical and electrical failures. While some travelers account for breakdowns and repair costs in their budget, an RV extended warranty can alleviate this financial burden. Your policy administrator will cover the repair costs for all covered components, ensuring your travel budget remains intact. Here are some compelling reasons to invest in an RV extended warranty:

Financial Security

The primary reason to buy an RV extended warranty is financial security. RV repairs can be costly, often running into thousands of dollars. An extended warranty covers these expenses, so you don’t have to worry about depleting your travel fund when something goes wrong. This financial protection allows you to enjoy your travels without the constant worry of unexpected repair bills.

Comprehensive Coverage

Extended warranties offer comprehensive coverage, including major components like the engine, transmission, and electrical systems. Depending on the plan, it can also cover appliances, heating and cooling systems, slide-outs, and leveling systems. This extensive coverage ensures that almost every aspect of your RV is protected, providing peace of mind as you travel.

The Role of Manufacturer Warranty

If you’re buying a new RV, you might wonder about the manufacturer’s warranty. These warranties offer minimal coverage, usually lasting about a year. New RVs are least likely to experience a failure during the first two years. To secure better coverage and terms, it’s wise to lock in extended RV warranty protection early. Extended warranties provide better coverage and better terms than manufacturer warranties.

Overlapping Coverage

You might be concerned about having dual coverage, but this often benefits your wallet. Extended RV warranty companies understand that brand new rigs have manufacturer warranty coverage, which lowers their risk of claims. This translates to better rates and longer terms for you. Even if your manufacturer warranty covers the first year, securing an extended warranty early can save you money in the long run. Here’s why:

• Lower Risk = Lower Cost: The first year is the lowest risk period for RVs, as they are less likely to break down. This low risk is factored into the cost of an extended warranty, resulting in lower premiums.
• Better Terms: Because the risk is low, warranty companies offer the best terms during this period. This means you get longer coverage for a lower cost, providing better value for your investment.
• Avoiding Inspection Requirements: Once your RV is out of factory warranty, a full RV inspection is typically required before an extended warranty can be issued. By purchasing an extended warranty early, you avoid this step and the potential for higher costs.

Eligibility for RV Extended Warranties

As an RV warranty broker, Wholesale Warranties ensures wide eligibility for new and used RVs. However, there are age and mileage limits. We offer extended warranties for motorhomes up to 20 model years and towable RVs up to 15 model years old. Ensure you secure protection before your vehicle exceeds these limits. Additionally, your RV must be under the mileage cap to qualify for warranty coverage. We cover up to 100,000 miles, equivalent to driving across the United States 27 times! Even if your engine has surpassed this mark, you may still be eligible for a lower level of coverage. You can click here to get started on a quote and learn more about what your rig qualifies for.

Optimal Timing for Purchasing an RV Extended Warranty

Buy Before the New Year

Purchasing a coverage plan at any time is possible, but doing so before the new year has advantages. As repair and labor costs increase and your vehicle ages, the best time to buy an extended warranty policy is always now. Regardless of when you bought your RV, the industry considers your vehicle one model year older as of January 1st. This affects the price of your RV extended warranty since age is a significant factor. Even if your RV is in storage for most of the year, it still ages.

Buy Before the End of Travel Season

Prices for all used units increase at the new year, making it wise to secure a warranty while your manufacturer warranty is still in effect. Additionally, RVs are not meant to sit idle. Claims data shows a significant uptick in issues during winter storage. Waiting until spring to purchase your RV warranty means these repairs won’t be covered, as they’ll be considered pre-existing conditions. Lock in your RV protection before the end of the year to ensure coverage for any new issues that may arise in the spring.

Benefits of Buying an Extended Warranty Early

Expected Risk and Pricing

The price of an RV extended warranty is tied to the expected risk of failure for your rig. Analysis of repairs and claims on similar models informs pricing for those units, considering factors like class, mileage, and model year. During the first year of full manufacturer warranty coverage, the risk is minimal, allowing for optimum pricing on brand new units. Waiting to invest in coverage until the manufacturer policy expires means higher costs and potentially limited term options.

Comprehensive Coverage Options

Understanding the different types of RV extended warranty coverage available is essential for making an informed decision. Here are the primary coverage options you can consider:

Comprehensive RV Warranty Coverage

Comprehensive RV warranty contracts list every covered component. Although these plans don’t provide as much coverage as an exclusionary plan, they are more affordable. A comprehensive extended warranty will still cover all major mechanical components, including parts that account for some of the most expensive repairs. At Wholesale Warranties, our comprehensive plans include coverage for the engine, transmission, brakes, refrigerator, air conditioning, wiring, leveling systems, slide-outs, and more.

Exclusionary RV Warranty Coverage

Exclusionary warranties cover every component under the contract except for the explicitly listed exclusions. Exclusions typically include pre-existing conditions or aesthetic components, such as fabric and paint, physical or accident damage, and maintenance items. Although these policies cost more than comprehensive and basic plans, they offer a greater range of protection. With an exclusionary policy, you have the potential to save big on otherwise costly repairs.

Coach-Only RV Warranty Coverage

A coach-only RV warranty specifically excludes engine and powertrain components. This option protects your travel budget from some of the most common—and expensive—RV repairs. These policies include coverage for slide-outs, leveling jacks, air conditioning, and more. A coach-only extended warranty is ideal for RVs with high mileage that disqualifies them from regular coverage. It is also a good option for newer vehicles with a powertrain still covered under the manufacturer warranty.

Powertrain-Only RV Warranty Coverage

As the opposite of a coach-only policy, this level of coverage specifically excludes items in the housing unit, focusing on the most expensive potential failures your coach may face. Engine, transmission, and powertrain components can cost upwards of $60,000. This lower-cost level of coverage is designed for these high-ticket items.

Considerations for Used and Very Used RVs

If you’re buying a used unit or have owned your RV for a while, you can still find suitable coverage. Wholesale Warranties casts a wide net of eligibility to help travelers protect their rigs at any stage in their RV journey.

How Used is Too Used?

While every provider is different, most RV warranty policies offer coverage for vehicles up to 15 model years old. At Wholesale Warranties, we extend coverage back 19 model years for motorhomes. It’s crucial to secure a warranty before your vehicle becomes too old to qualify.

RV Mileage

In addition to age, mileage is a key factor in eligibility and pricing. Generally, the higher the mileage, the higher the cost of your policy due to increased risk of breakdowns. Most policies offer full coverage up to 100,000 miles on the odometer, and coach coverage (excluding engine components) up to 125,000 miles. If you’re approaching these caps, it’s wise to get a quote for coverage while still eligible.

What January 1st Means to RVers

Regardless of when you purchased your rig, January 1st of each new year is a crucial date. An industry-wide standard states that every RV is considered one model year older at the turn of the calendar year. This affects RV warranty pricing because the age of your rig directly impacts the cost and coverage options. Vehicles that qualify in the current year can lose eligibility altogether when the new year hits. Moreover, pricing will increase for all used units as the probability of major failure rises with age. You can click here to learn about this in more detail.

An RV extended warranty is a vital investment to protect your travel budget from costly repairs. Whether your RV is brand new or well-loved, securing a warranty early ensures better coverage, lower costs, and peace of mind on the road. The best RV extended warranty is one that fits your lifestyle, budget, and vehicle. To get started, click here to work directly with an RV Warranty Specialist on a free quote and make a plan for protecting your road ahead.