Some Useful Tips When Choosing Motorhome Extended Warranty Companies
Simply put, a Motorhome extended warranty is an insurance against repairs and mechanical issues as they pertain to your motorhome. Generally, the periodic payments made in small amounts over time are exchanged for the ability to pass those large costs associated with repairs and maintenance onto the warranty company when they happen. When buying an extended motorhome warranty company, there are several factors one has take into consideration.
The first thing you should on the lookout for is value. Make sure you can justify an extended service contract. Because these services have huge built in profits for motorhome dealers, it is at that office where you will most likely be presented. Because of this, there will be significant pressure to have you buy such a warranty when you are doing the initial purchase. However, it is important to note that it is not a must for you to buy the warranty from your dealer; you are at liberty to shop for a seller who meets your value proposition. You should keep in mind though that you shouldn’t wait too long either to buy an extended warranty. This is because the older your motorhome gets, the more expensive the warranty is bound to be. So even though you should shop around, you should lock in the best price immediately you identify one. While checking on the prices, be cautious against covers that are too cheap, as a matter of fact, you should be wary of unsolicited, very low warranty offers which you may receive either online or through phone calls.
It is also important for you to fully understand the coverage that the company is offering you. Even though the coverage can be very complicated, you should always get a copy of the contract and read it through before putting pen to paper. Some of the coverage include exclusionary contract and listed component contract.
An exclusionary contract is what most motorhome owners want. This type of coverage does include every mechanical aspect of the motorhome except for what has been specifically excluded from coverage, listed as what is not covered in the contract or listed as exclusions. Such covers can have multiple levels of coverage and tend to include specific provisions that include coverage in higher levels of coverage or exclude coverage in lower levels. On the other hand, listed component contract does only list what is specifically covered. In this regard, if it is not listed then it is not covered. The main disadvantage of this contract is that it is very difficult to determine what has not been covered.
To protect your contract, you should check out the financial condition of the insurance company that’s backing the administrators claims reserve account. Always opt for A-rated companies whenever possible. You should however be wary of risk retention groups that may be backing your extended service contracts since they are not as well regulated as insurance companies and several of them have gone bust over the years.
You should also ensure that you get a cover that’s flexible and convenient. You should be able to access repair facilities that you choose wherever you are in the event of a breakdown. You should be wary of warranties that insist that you use certain networks or facilities since this will significantly limit where you can seek services when you need them.
You should also opt for a cover that’s offering you top notch service, the contract provider should be well known, reliable and financially stable. It is also important to ensure that the deductible you get is one that’s deductible per repaired part and not per visit. Finally, you should also ensure that the warrant administrator pays the repair facility directly. You should be very worried is the administrator asks you to pay for the service out of pocket and then requires you to submit your receipts for reimbursements. Here are some of the leading motorhome extended warranty companies in the market. They include but are not limited to the following:
Mailing Address: 10683 West I-25 Frontage Road, Longmont, CO 80504
Phone Numbers: 1-866-703-3084
Web URL: https://is.gd/IOx0xY
Other Programs: the company does have partnerships with some of the top companies such as Total Loss Coverage, CornerStone United and United States Warranty Corp. the company can also create customized extended service plans that meet your unique needs. It does also have low deductible ranging between $ 50 and $250.
2) Good Sam Extended Service Plan
Mailing Address: Affinity Brokerage Inc, P.O.Box 6904, Englewood, CO 80155-9682
Phone Numbers: 1-888-787-7683
Web URL: https://is.gd/Dj8Hhb
Other Programs: for motorhomes, you can choose a deductible of $ 100, $250 and $ 500.
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