One of the most common questions we get as RV warranty specialists is: should I wait to buy? We understand this concern. After all, many of our customers are hopping into brand new rigs that come with full manufacturer warranties, and no one wants to pay for double coverage, right? And yet, we rarely recommend waiting until the existing manufacturer coverage has run out!
In this blog, we’ll seek to help you answer the much-pondered question:
Should I buy an extended warranty now, or wait until my current manufacturer warranty has expired?
The purchase of extended RV warranty coverage is a decision that has to be made by each individual, and buying while your rig is brand new is no different. You’ll want to consider many of the same questions you would ask yourself about buying coverage for a used unit: can I afford costly repairs to commonly failed items (see the graphic to the left for more details)? How important is peace of mind while I’m traveling? What is my desired level of risk when it comes to mechanical failures? If any of these questions point you towards checking out coverage, you’re likely on the right track.
The Concern of Overlapping Coverage:
If you were to purchase an extended RV warranty, your manufacturer warranty would take precedence over this coverage until the manufacturer warranty term has expired. At that time, your extended warranty would become your primary source of protection against mechanical failures. Waiting to buy coverage until the manufacturer warranty is over will prevent this overlap of coverage.
However, waiting to buy an RV warranty until your manufacturer policy has expired will also present a variety of disadvantages—many of them hitting where it hurts most: your wallet.
Reasons to Buy an RV Extended Warranty While Manufacturer Warranty is Still In-Force:
- Expected Risk:
Warranty Companies consider the risk of a vehicle coming out of, or already out of, manufacturer warranty as very high. This will result in exponentially higher pricing for coverage if you buy an extended warranty on an RV without manufacturer warranty. Depending on the policy you are looking to purchase, this may even change what levels of coverage are available to you. - Term Options:
When your rig is brand new, extended RV warranty companies allow you to lock in excellent pricing for much longer terms. This is will result in your least expensive overall cost for the same great coverage! Without manufacturer warranty, the term available to you will be reduced, and your cost-per-year will rise. - RV Inspection Requirements
When a vehicle is out of factory warranty, a full mechanical inspection is required before an extended warranty can be placed on the unit. This could result in increased cost, as well as the time involved in completing your mechanical inspection. - Increased Cost for Equal Coverage
Waiting until manufacturer warranty expires will almost always take you into a new calendar year, resulting in price increases based on model year alone.
Purchasing your extended warranty now will give you the best coverage and pricing options, but what do you do with overlapping coverage? Many of the policies offered at Wholesale Warranties come with ancillary benefits like roadside service, or trip interruption reimbursement. If you have a failure that is covered by your manufacturer warranty, you may be able to take advantage of these added benefits while your rig is in the shop.
So, should you purchase an extended warranty while your manufacturer policy is still in effect? The decision is ultimately up to each individual RVer, but it’s certainly worth taking a look at the options available to you and how they might change over time.
RV Extended Warranties
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