What is an Extended RV Warranty and is it worth it?

Many RVers wonder whether an Extended RV Warranty is worth the investment of protecting what already is the most expensive investment they will ever make besides their sticks and bricks home - the RV.
The answer is dependent on a number of factors that we consider in Episode 344 of the RV Podcast. But for those who plan to keep their RV for many years, an extended RV warranty provides something hard to measure: The peace of mind of knowing that pretty much whatever happens, whenever it happens, they're covered.

Listen to the entire podcast in the player below. Scroll to about 25 minutes in to hear the interview. And keep reading below for a transcript of the interview

Here's a transcript of my Interview with Staci Ritchie Roman of Wholesale Warranties

What is an Extended RV Warranty?
Mike Wendland:           Well, joining us now to sort out this whole issue of extended RV warranties is our friend Staci Ritchie Roman from Wholesale Warranties. And Staci, first of all, welcome to the podcast. It's always great to have you on. I think you've been on, a couple years ago we had you.

Staci Ritchie Roman:      Yeah, thank you so much for having us on again.

Mike Wendland:           It's such a crazy time in the RV business. Let's start off with the real basic discussion. What is an extended RV warranty?

Staci Ritchie Roman:      Sure. So what most of us know as an extended RV warranty is actually an RV extended service contract, and what it is, is a policy that will step in to pay for repairs to some of the most common mechanical failures your RV is going to face. And so that ranges, everything from a diesel engine down to a microwave, and pretty much everything mechanical and electrical in between.
Do you need an Extended RV Warranty for a new RV?
Mike Wendland:           Well, then what about when someone buys a new RV? Do they need an extended warranty for a new RV?

Staci Ritchie Roman:      Yeah, so it kind of comes down to personal preference, but we'll tell you what we think. So your RV comes with a manufacturer's warranty and that definitely takes precedence. So if you have a manufacturer warranty, you're going to go there first. Those don't always cover everything, and things start to drop off after a couple of years.

The great thing about an extended warranty is you can lock in several years of coverage all at once, and the best rate you're ever going to get, the best price you're ever going to get for an extended warranty, is when it's brand new because the extended warranty companies know that they're probably not going to be paying too many claims right off the bat.

So the longest term, the best price you're ever going to get is to buy right when your rig is brand new. And there are some added benefits that come with the extended warranty that you'll be able to use as well, during that first year of manufacturer coverage.
What are the added benefits of an Extended RV Warranty
The most common times major breakdowns occur on an RV  Source: Wholesale Warranties

Mike Wendland:           What are some of those added benefits that you can use?

Staci Ritchie Roman:      Sure. So there are additional things like roadside assistance on some of the policies. So it kind of varies policy to policy, and so as a broker, we have several different options available, and that's something that you'll want to discuss with your warranty specialists. But some of these policies do come with added benefits and coverages that maybe the manufacturer coverage didn't come with, so appliances and things like that. Every rig is different, and the manufacturer warranties that come with them are different, as well.

Mike Wendland:           And that leads me to a question. You talked about being a broker. When you buy a new RV, they try and get you to sign up right there at the dealership. Is that necessarily the best place to do it?

Staci Ritchie Roman:      You know, you have options.