Re: [A/S] Hail Sale Visit, what's there, and extended warranty.

[Jim Dunmyer <jdunmyer@xxxxxxxxxxx>]

Most of those "extended warrantys" (actually an insurance policy) are
designed to make money for the person who sells them. Obviously, like
any other insurance, you're betting that something will break and be
covered by the policy, and they're betting that it won't.

The worst part about them, from what I read in the magazines, is the
sometimes very narrow coverage and the EXACT hoops that you must jump
through in order to collect. Often, you think that something "should" be
covered, but the policy either doesn't mention it as "covered", or it's
in the list of "exclusions". Either way, you loose.

My personal philosophy with insurance is to obtain it for losses that I
cannot afford to cover myself. But, I don't buy insurance for something
that could create an affordable loss or for something that I wouldn't
replace anyway.

Do the math: if an "extended warranty" covers your major RV appliances
and costs $300.00/year, it'll cost you $1500.00 in 5 years. The only
appliance that would cost that much to replace would be the fridge, so
IF the fridge goes out within that time frame, you'll come out about
even. If a $500.00 furnace or a $300.00 water heater goes out and is
replaced by the policy, you still loose. Most RV appliances should be
good for 8-10 years minimum, or so I'd think. It'd not be surprising to
me to find out that 20 years is a more-typical lifetime for the major
stuff. 

Personally, I'd take the chance if it were mine.

Like life insurance: you're betting that you'll die soon, the insurance
company is betting that you'll live a long time, and you're hoping that
they win.

                                                <<Jim>>