RV.Net Open Roads Forum: 3yr ESP= $1700... yet now, 1 yr = $1400...??

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Open Roads Forum  >  Good Sam Extended Service Plan

 > 3yr ESP= $1700... yet now, 1 yr = $1400...??

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lanerd

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Posted: 03/17/12 04:20pm Link  |  Print  |  Notify Moderator

I think I'm a little confused on this. We purchased a 3 yr GS ESP in June 09 for a little over $1700 bucks. This coming June this policy will be completed; however, I have received a renewal notice that I can continue my policy for ONE year for $1400. Can someone explain the difference to me please?

thanks

Ron


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Posted: 03/17/12 04:25pm Link  |  Print  |  Notify Moderator

the unit is older now and things will start to fall apart or break down, so the premium is higher. it is the same for any thing you buy whether it is at sears or elsewhere. My lawn tractor warranty was like that and that is the answer as I gave it to you

KCFDCapt

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Posted: 03/17/12 04:58pm Link  |  Print  |  Notify Moderator

You get to pay the BIG commission for the policy again. Also for all those mailings that told you what a great deal you got.

PapPappy

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Posted: 03/17/12 04:58pm Link  |  Print  |  Notify Moderator

Go and try and buy a Life Insurance policy on yourself now, and compare what the rate was when you were in your 20s....same thing. Just as your body is starting to show age, and you probably have more visits to the Dr.....your RV will have more visits to the shop, as it starts to fall apart.

I bet if you called and said you had an RV that was 3 years newer, you'd get a price that was more in line with your original....but then, you also want to allow for inflation too

Not much you can do about it.....either pay them the $1400, or put it in the bank, and hope that you have no problems.....then, put another $1400 in next year, and the following year.....and you'll be "self insured" in the event you do have a failure one day.


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skipnchar

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Posted: 03/17/12 05:34pm Link  |  Print  |  Notify Moderator

The RV would have already had factory warranty for the first couple of years so they didn't have to pay anything or insure anything You probably got the first two years for 300.00 and the third year (after the factory warranty was up) for 1400.00


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midnightsadie

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Posted: 03/17/12 05:46pm Link  |  Print  |  Notify Moderator

take that $1400. and bank it, every month add $25.bucks and you,ll have a better emg policy than you can buy.and you,ll be 100% covered with no deductable.

lanerd

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Posted: 03/17/12 09:08pm Link  |  Print  |  Notify Moderator

skipnchar wrote:

The RV would have already had factory warranty for the first couple of years so they didn't have to pay anything or insure anything You probably got the first two years for 300.00 and the third year (after the factory warranty was up) for 1400.00


Skip, we bought the coach in 07 and it had a 1 year warranty on it... of course the drive train had more, but the CAT/Allison will outlive me easily. However, we were more worried about the slides, levelers, electronics, and knew (after we bought it and Monaco was facing Chapter 7) that we had a trailing arm defect that (WE) would have to eventually replace. This was the main reason for getting the ESP.....and it DID pay for the $3500 trailing arm problem.

So no, the ESP did not take affect until the original Monaco warranty was long gone.

Since we have not had any problems with this coach (with the exception of the trailing arms) at all....we were thinking that we would forgo any further ESPs. If they had come back with the same deal, I probably could have been talked into it. However, that $1400 quote for one year..... I think pretty much closes the door.

Ron

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Posted: 03/19/12 12:59pm Link  |  Print  |  Notify Moderator

Ron,

Skip and some of the other members are on the right track- we price the Good Sam Extended Service Plan based on the historical cost to repair an RV of that age, type and mileage. When you first signed up, you had coverage left on both the coach and drive train. Each component on the coach may have a different warranty from the manufacturer- one, two or three years depending on the component and the manufacturer. Then the drive train has a longer warranty. All of that is factored in to the pricing so that as each component comes off the manufacturers warranty we pick up the risk. And, as these units age, they become much more likely to have failures. There are also lots of "drive train" parts that are not covered by that longer term manufacturers like turbo chargers, alternators, and any other "bolt-on" component.

If the $1400 premium is too high for your budget, there are other alternatives you can look at. We have four different deductible levels which can lower your premium. We also have a lower cost "Silver" coverage which may be a better alternative for you and focuses on just the things you want covered. Just let me know if you would like me to price these other alternatives.

Hope this helps!

Scott Blanc
Vice President and General Manager
Good Sam Continued Service Plan
sblanc@goodsamfamily.com


Scott Blanc
Vice President and General Manager
Good Sam Continued Service Plan
sblanc@goodsamfamily.com


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Open Roads Forum  >  Good Sam Extended Service Plan

 > 3yr ESP= $1700... yet now, 1 yr = $1400...??
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