If you’ve been holding out on purchasing a warranty, this blog is for you!
The most important feature of any warranty is the peace of mind that comes from knowing your repair costs will be covered. This protection will step in and pay for mechanical and electrical failures on your rig when you need it most.
Oftentimes failures happen when you least expect it. Protection products become a key element of designing an effective travel budget as motorhomes become increasingly complex, and repair costs rise to meet these changes. On average, you can expect to pay $300 per hour between parts and labor for each and every repair. With a warranty in place, you can travel with an extra layer of security knowing those high-ticket items will be taken care of in the event of a failure.
Unfortunately, breakdowns are an unavoidable part of RV life. Studies show that 30% of RVs will suffer a major breakdown by the second year on the road. By the fifth year, that number increases to 80%. By the eighth year on the road – nearly every RV will see a catastrophic failure! Unfortunately, those aren’t the most favorable odds when you’re developing a strict travel budget for your RV life.
So how can you save the most on your coverage upfront?
Don’t wait to purchase a policy!
If you’ve already purchased and locked in your warranty, you’re set for the life of your policy term! But if you haven’t secured coverage yet, there are some key points you’ll need to know. Every new year brings big changes that affect your pocket and your RV’s eligibility for an active policy. 2020 increases the overall price of your warranty and lowers the total years of coverage you can get for your home-on-wheels.
Let’s start with pricing changes:
With a new year, every RV on the road will be considered one model year older, regardless of when you purchased the unit. That means all prices on extended warranties will be higher once 2021 hits. So, if you haven’t purchased by January 1st, 2021 your original quote will significantly increase.
Note that if you purchased your motorhome new in 2020, and you wait until 2021 to purchase an extended service contract on the vehicle, your unit will be considered used because it’s out of the original factory warranty. Before your policy can be activated, you’ll have to have a full inspection done. Additionally, the available term on a 2020 unit decreases from 7 years to 6 years.
Let’s discuss those eligibility changes in more detail:
Comprehensive coverage will no longer be available for motorhomes with the model year of 2005 and older. That means you will no longer be able to get the full coverage on your vehicle if it was made on or before that date.
Furthermore, towables 2005 and older will no longer be eligible for any coverage on the rig, and motorhomes ages 2000 and older will follow suit. That includes chassis only, powertrain only, and catastrophic coverage.
Did you recently purchase a brand new rig? Get the best value by locking in your RV protection now.
Even if you’re planning on winterizing your RV, securing coverage before the new year will save you the most money on your warranty protection.
There isn’t one RV that will work for everyone, and that should be the same for your warranty! Whether your rig needs exclusionary coverage, listed component coverage, powertrain only coverage, or coach only coverage, you should be able to start with a base policy and add additional features that are important to your specific RV life.
When you fill out the free quote form below, our warranty specialists will pair you with a personalized policy to fit your travel lifestyle, before the 2021 changes hit.