Compare several warranty companies!
Whether you are buying your RV Warranty from your RV Dealer or another
warranty company, you want to shop around for the best company. Always shop 2-3
warranty companies before you make your purchase. Contrary
to your RV Dealer, you do not have to purchase your RV warranty from him.
The RV Dealer would like to sell you the warranty because he marks it up so high,
it is one of the highest profit items for the dealerships F&I department.
So shop around online, but shop wisely. Here are some very important things to
look for before making your warranty purchase.
 The warranty
company you choose for your RV extended warranty, should be a well established
company not an Internet startup. Make sure the warranty company you choose for
your warranty purchase has been in business over 10 years.
 Insured
Make sure the warranty policy is not only in insured but re-insured as
well. This will give you the peace of mind knowing that if the warranty company
happens to go out of business, the insurance company will take over the policy
and you will still have your warranty coverage for the term of the warranty contract.
This will insure you that the warranty policy you buy will still be in affect
for the term of the warranty contract. If the warranty policy is not insured and
also re-insured, you should not consider that particular warranty company for
your purchase.
One of the warranty companies that our staff has researched is Warranty Experts
www.warrantyexperts.com
They are one of the largest warranty companies in the world with an impeccable
claims record for 18 years. Warranty Experts have never sold a warranty policy
that is not insured as well as re-insured.
 AM
Best rated
We have found that warranty companies with an A.M. Best rating of A+
(Superior) or higher seem to have better financial strength and a better claims
payment record than warranty companies with A or A- rating. A.M. Best Company
is the leading provider of ratings, news, data and financial information for the
global insurance industry. Best's Ratings are recognized worldwide as the benchmark
for assessing insurers' financial strength and reflect an in-depth knowledge of
the insurance industry developed during its 100-year relationship with the business.
This is one reason why insurance industry professionals have consistently ranked
Best's Ratings number one in confidence, usefulness and understanding.
 Claims
Payment
Before purchasing a warranty policy you want to make sure the warranty
company that you choose pays it's claims directly, by credit card to any Dealer
or Licensed repair facility in the US or Canada, thus you are only responsible
for the cost of the deductible. The deductible should be per visit and not per
item. Some warranty policies state that you have to take your RV to a Dealership
only for repair, this will limit your repair locations, that's why you want to
make sure that your warranty policy is can be taken to any repair facility as
well. Stay away from buying a reimbursing policy. A reimbursing policy is one
in which you pay for the repair and wait to get paid back by the warranty company.
You will be out the price of the warranty policy and also the repair costs until
you are reimbursed.
 Financing
Most top extended warranty companies offer 0% financing. You never want
to finance your warranty in with your RV loan, you will be paying 3-4 times for
the price of the warranty after all of the interest charges over the 15 or 20
year financing note. By using the 0% interest warranty companies offer and not
financing your warranty in with your RV loan, you will save up to $5,000 to $7,000
in interest charges on your RV loan.
 Money
Back Guarantee
Most companies offer you a 30-60 day money back guarantee, which gives
you that time frame to look over the warranty policy and return it if there is
something in the contract you don't like for a 100% money back guarantee as long
as no claims have been made. We suggest however, that you have the warranty company
email you a copy of the actual warranty contract to review before you make your
purchase, this will give you a chance to look at the coverage as well as the small
print. If a warranty company is hesitant or won't email you the actual warranty
contract, there may be something in the contract they don't want you to see or
are hiding. In that case, take them off your shopping list and move to another
warranty company that will email you the contract.
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