There’s a lot to learn when it comes to RV protection. With levels of coverage, deductibles, administrators, and more all involved, even something as simple as when to buy an RV extended warranty can feel like an overwhelming question to ask. The good news is you have options, and with the right provider—like Wholesale Warranties—you are able to secure coverage at just about any point in your travel journey.
RV breakdowns are inevitable, and the cost of repair is skyrocketing. The simple answer to when you should start looking into RV warranties is: now! But, of course, the topic is a bit more nuanced than that. Let’s take a look at the timeline…
But first, What is an RV warranty?
RV extended warranty is a commonly-used name to refer to extended service contracts. These contracts essentially step in to pay for the parts and labor costs of most mechanical or electrical failures an RV might face, in exchange for a premium and per-visit deductible. The best RV extended warranty will match to your desired level of risk, paying for repairs to items ranging from your engine and powertrain to your appliances, leveling system, slide-out motors, and more.
So, an RV warranty is an investment. It protects your travel budget from repair costs that could threaten to ruin your plans. But do you need one if your RV is brand new? What if it’s used, do you even qualify? The answers might surprise you.
RV Extended Warranties for Brand New Rigs
You’ve just purchased a brand-new RV, it came with a manufacturer’s warranty, and you’re ready to hit the road. You may be thinking you can put off thinking about extended coverage for the next year or so, right? Not exactly.
The biggest reason RVers tend to avoid locking in RV extended warranty protection early into ownership is the fear of overlapping coverage. Yes, your manufacturer warranty is in play, but there’s a lot to keep in mind before writing off extended protection during that first year. We’ll take a look at a few reasons why buying RV warranties when the rig is brand new actually makes a lot of sense.
- Expected Risk: The price of an RV extended warranty is, in large part, tied into the expected risk of failure for your particular rig. Constant analysis of repairs and claims on similar models informs pricing for those units, broken down into trends for categories like class, mileage, model year, and more. When looking at model year, they will take into account the minimal risk during the first year of full manufacturer warranty coverage. This low level of risk allows them to provide optimum RV extended warranty pricing on brand new units—meaning if you wait to invest in coverage until the manufacturer policy has expired, you’re going to be looking at a higher price tag. Additionally, some RV warranties will also limit the length of term or level of coverages available once a unit is out of manufacturer coverage.
- Change in Model Year: Waiting until the manufacturer warranty expires will almost always take you into a new calendar year, resulting in price increases based on the model year alone. We’ll dive more into what January 1st of each new year means to RVers and RV warranty pricing later in this article.
- Inspection Requirements: Once your RV is out of factory warranty, credible RV extended warranty providers will require a full RV inspection before the policy can be put into place. This is a great layer of protection for used units and private party purchases, but it does delay the amount of time it takes to activate coverage and could impact pricing.
- Term Options: When your rig is brand new, you are able to lock in the lowest pricing for the longest term. This leads to the least expensive overall cost for the same level of coverage! Without the manufacturer’s warranty, the available term is reduced while the cost-per-year rises.
So, while you will have overlapping coverage between your manufacturer policy and an extended RV warranty, the benefits to locking in extended protection are significant. Getting the best RV extended warranty coverage for the best price and the longest term is a valuable investment, and one to consider before hitting the road in your brand-new rig.
RV Warranties for Used and Very Used RVs
Buying a used unit, or owned your RV for a while? No problem! With Wholesale Warranties, we cast a wide net of eligibility to help travelers protect their rig at any stage in their RV journey.
- How Used is too Used?
While every provider is different, most RV warranty policies will offer coverage for vehicles up to 15 model years old. At Wholesale Warranties, we can actually go back 20 model years for motorhomes.
- RV Mileage:
In addition to age, you’ll want to keep an eye on the mileage of your motorhome. As you head out on more adventures and add miles to your home-on-wheels, the risk of breakdowns increases. Generally speaking, the higher the mileage, the higher the cost of your policy will be.
While this again varies from RV extended warranty to RV extended warranty, most policies will offer full coverage up to 100,000 miles on the odometer, and coach coverage (excluding your engine components, up to 125,000 miles. If you are getting close to one of these caps, it’s a good idea to get a quote for coverage and review your options while they’re still available.
What January 1st Means to RVers
Regardless of when you purchased your rig, the 1st of each new year is an important date. An industry-wide standard states that every RV is considered one model year older at the turn of the calendar year. RV warranties are priced based on many categories, including model year. As your rig ages in the eyes of the industry, the price and coverage options will change.
This turn-of-the-year RV extended warranty rule should be taken into account when considering when to purchase a policy. Vehicles that can 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 increases with every passing year. You can click here to learn about this in more detail.
So when should you buy it? The best RV extended warranty is the one that fits your lifestyle, your budget, and your RV. Click here to work directly with an RV Warranty Specialist on a free quote, and make a plan for protecting your road ahead.