NOTE: The following is the text of an email we sent to one of the companies offering extended warranty coverage. In the letter we both stated the "questions", and offered some suggestions as to what might be explained in the "answers". Unfortunately, and even after multiple follow up efforts, we did not receive a response to our inquiry.
We recently discussed a potential Q&A format for helping our readers understand and evaluate the merits and suitability of extended warranty coverage for RVs. I would contemplate "introducing the topic", adding the questions and answers, and then offering a bit of analysis at the end. I'd be happy to send you the completed piece before we use it to ensure you're comfortable with it as well.
Here are the questions that I believe would be helpful to have answered:
1. Why should I purchase an extended warranty policy? [Here I believe is simply the notion of "self insurance" versus protecting against major repair expenses]
2. What typically is covered under an extended warranty contract? [Here my guess is the description of most policies, which I understand generally "wrap" around all the other component warranties to provide coverage once they've expired; and how it covers RV "systems" as opposed to construction defects.
3. What is the term of these policies in years and mileage? [Here I believe there may be much more flexibility than most people realize. Many are "low mileage" types, and would be more interested in the number of years than the number of miles. Some of us are "high mileage" types, and will focus on that dimension. But the point is if there is flexibility in designing the term of the policy (miles & years) that would be of great interest.
4. When should I purchase the policy? [It's usually a sales item from the dealer upon delivery. But is there any advantage to purchasing then versus waiting out the one or two year manufacturer's warranty?
5. From whom should I purchase the policy? [Again, this is a sales item from the dealer sales person, and I assume represents a strong financial incentive to him or her. But is it more advantageous to the RV owner to "shop around"? If so, how can that be done effectively?]
6. What should I look for when shopping for an extended warranty policy? [Perhaps there are specific features that make some policies more advantageous to the purchaser? Another dimension of this would be to describe how policies from different companies might be intelligently compared.]
7. Once I've purchased a Policy, are there steps I should take to protect my coverage under it? [Here we have the owner's responsibility for routine maintenance, record keeping, etc. Obviously an owner can't "abuse" the unit and expect to be compensated for claims. But it seems there should be some "reasonableness" on the insurer's part as well, as not having a mountain of records (some of us are less meticulous than others) could be feared as one method for unfairly denying a claim.]
8. How do I submit a claim? [Here the problem is of course getting the RV service shop to "comply" with the requirement of calling in before doing anything. Some RV service centers just don't want to be bothered with extended warranty issues. Others will say they don't have the foggiest idea of what their bill will be until they expend considerable time diagnosing the problem. And what about emergency service required after hours or on weekends? These are all practical problems the insured needs to deal with.
What words of comfort might be offered here?]
These would seem to be the primary questions I see from the consumer side. Perhaps if you see something I've missed you could simply comment on it. Once I put the A's together with the Q's, I'll send you a draft of what we'd propose to publish.
Best personal regards,