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02-26-2019, 10:06 PM
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#21
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Site Team
Join Date: Jul 2013
Posts: 5,424
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Quote:
Originally Posted by RossWilliams
The average repair cost is the average cost of each repair. You are talking about the average of total repair bills for all their customers and it is still irrelevant to individual customer.
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That is a distinction without a difference. The only thing that matters for each party is the total amount paid. It makes not the slightest difference how many transactions this is spread over. The elderly couple will, on average, come out ahead by putting their money in the bank.
If you actually believe that there are significant numbers of people who (a) Can afford a $100K vehicle, and (b) can afford a $3K service contract but (c) cannot afford an additional $3-5K (worst plausible case) in the unlikely event that something really bad happens to their vans mechanics, then I give up.
Over and out.
__________________
Now: 2022 Fully-custom buildout (Ford Transit EcoBoost AWD)
Formerly: 2005 Airstream Interstate (Sprinter 2500 T1N)
2014 Great West Vans Legend SE (Sprinter 3500 NCV3 I4)
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02-26-2019, 10:18 PM
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#22
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Platinum Member
Join Date: Aug 2010
Location: Minnesota
Posts: 12,382
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The ones that seem to have the most trouble paying for unexpected repairs are the ones that probably should have reconsidered the purchase in the first place and used all their funds to buy an older and likely more prone to have breakdowns van. With no set aside for problems, it is just a matter of time. It certainly isn't unheard of for repairs of over $5000 to be needed on the road, even for the less sophisticated older vans.
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02-26-2019, 10:23 PM
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#23
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Platinum Member
Join Date: Aug 2015
Location: MD
Posts: 153
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Quote:
Originally Posted by avanti
Not meaningless at all. The "average repair cost" is the amount paid out by the insurer, averaged across all their customers. They know that value very precisely.
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How can they predict the future? Many insurance companies face huge losses because the future turned out differently than they expected. This is unlike health insurance (or more newsworthy, long term care insurance) where the insurer can update their premiums yearly.
Also, not all consumers are equal. Some are disorganized and will lose track of their extended warranty, some will sell the van, and some will not care. Others will keep meticulous records, and go through the hassle of making sure they get every repair they are entitled to.
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02-26-2019, 10:30 PM
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#24
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Site Team
Join Date: Jul 2013
Posts: 5,424
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Quote:
Originally Posted by michaelingp
Many insurance companies face huge losses because the future turned out differently than they expected.
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Really? Do tell.
__________________
Now: 2022 Fully-custom buildout (Ford Transit EcoBoost AWD)
Formerly: 2005 Airstream Interstate (Sprinter 2500 T1N)
2014 Great West Vans Legend SE (Sprinter 3500 NCV3 I4)
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02-26-2019, 11:21 PM
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#25
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Gold Member
Join Date: Jan 2019
Location: Mountain View CA
Posts: 99
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Regarding battery, we got one of the few Aktivs available without EcoTrek, so battery coverage not an issue for us. With that said, I think we are leavning toward 'winging it' if something breaks we will just pay to have it repaired. I see far more comments that x-Warranties are fraught with issues. And warranty repairs seem to go to bottom of the list.
__________________
Looking for < 20 foot Class B
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02-26-2019, 11:48 PM
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#26
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Platinum Member
Join Date: Jul 2012
Posts: 2,380
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Quote:
Originally Posted by avanti
Really? Do tell.
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Generally this happens with hurricane damage beyond what the insurers have predicted in their estimated exposure...
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02-27-2019, 01:31 AM
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#27
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Platinum Member
Join Date: Jul 2018
Location: Minnesota
Posts: 654
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Quote:
Originally Posted by avanti
That is a distinction without a difference. The only thing that matters for each party is the total amount paid. It makes not the slightest difference how many transactions this is spread over. The elderly couple will, on average, come out ahead by putting their money in the bank.
If you actually believe that there are significant numbers of people who (a) Can afford a $100K vehicle, and (b) can afford a $3K service contract but (c) cannot afford an additional $3-5K (worst plausible case) in the unlikely event that something really bad happens to their vans mechanics, then I give up.
Over and out.
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Actually, its a distinction that makes a huge difference. Almost no one is average.
" It makes not the slightest difference how many transactions this is spread over."
It does to the person who has to come up with the money all at once this week instead of spread out over 6 years. Again, that is really the reason for any insurance. "On average" for the "average" person paying an "average" bill there is no need for insurance of any kind.
"Can afford a $100K vehicle"
You know, $100K is not the median price for an RV or even close. But yes, there are people who will take on a $1000/month payment and not have another $3-5K available to pay the bill if something goes wrong or it will involve some extremely painful choices. And the extra cost is nominal in terms of the monthly payment.
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03-03-2019, 11:27 PM
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#28
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Silver Member
Join Date: Jul 2018
Location: California
Posts: 54
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When you registered with Truma, which product did you select?
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03-04-2019, 02:11 AM
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#29
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New Member
Join Date: Feb 2019
Location: Ontario, Canada
Posts: 3
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I purchased(last week) a new 2019 Roadtrek Simplicity SRT & the 7yr. coach only warranty. It covers everything inside the coach, $200.00 deductible, if I return to the dealer where I purchased the coach deductible is $ 150.00
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03-04-2019, 02:26 AM
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#30
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Platinum Member
Join Date: Aug 2010
Location: Minnesota
Posts: 12,382
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Quote:
Originally Posted by athom
I purchased(last week) a new 2019 Roadtrek Simplicity SRT & the 7yr. coach only warranty. It covers everything inside the coach, $200.00 deductible, if I return to the dealer where I purchased the coach deductible is $ 150.00
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Does it include batteries and charging equipment?
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03-04-2019, 02:40 AM
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#31
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New Member
Join Date: Feb 2019
Location: Ontario, Canada
Posts: 3
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Charging equipment yes, but not batteries
www.iasal.ca
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03-04-2019, 04:26 AM
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#32
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New Member
Join Date: Jan 2019
Location: Florida
Posts: 9
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These aftermarket warranties are not near as good as factory warranties. I watched a 30 minute YouTube video tonight on these warranties that are being offered. Read the FINE PRINT.
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03-04-2019, 05:54 AM
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#33
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Platinum Member
Join Date: Jul 2012
Posts: 2,380
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As an engineer, I realize that according to all probabilities the typical extended warranty for anything you buy is not a good purchase and I rarely get one.
I also realize that not everyone looks at the world the same way.
There are a significant number of people who don’t feel comfortable with the risk that they will have something happen that will cost a lot of money to fix. The cost of insuring against that risk gives them peace of mind.
Who am I to say that they should look at the world the same way I do and not spend the money it takes to give them peace of mind.
You can respond that playing on the fear these people feel is how the extended warranty companies get their sales but in the end, the purchasers probably feel more content.
I expect others would think that I waste money on things that don’t make sense to them but all of us are not alike and it is not going to change...
I respond to questions about extended warranties by providing a reference to a good overview of the pros and cons. If they read that and still decide to do it then I think I will not try to convince them otherwise...
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03-04-2019, 02:09 PM
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#34
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New Member
Join Date: Feb 2019
Location: Ontario, Canada
Posts: 3
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I have owned many different types of RV's in my life time ( new & used ) & I know from experience they are expensive to repair. If you are unable to fix it yourself & must pay for labor then it's twice as bad
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03-04-2019, 02:51 PM
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#35
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Site Team
Join Date: Jul 2013
Posts: 5,424
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Quote:
Originally Posted by gregmchugh
As an engineer, I realize that according to all probabilities the typical extended warranty for anything you buy is not a good purchase and I rarely get one.
I also realize that not everyone looks at the world the same way.
There are a significant number of people who don’t feel comfortable with the risk that they will have something happen that will cost a lot of money to fix. The cost of insuring against that risk gives them peace of mind.
Who am I to say that they should look at the world the same way I do and not spend the money it takes to give them peace of mind.
You can respond that playing on the fear these people feel is how the extended warranty companies get their sales but in the end, the purchasers probably feel more content.
I expect others would think that I waste money on things that don’t make sense to them but all of us are not alike and it is not going to change...
I respond to questions about extended warranties by providing a reference to a good overview of the pros and cons. If they read that and still decide to do it then I think I will not try to convince them otherwise...
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There is a difference between criticizing a product and criticizing the motives of the purchaser.
I can't personally relate to the "peace of mind" thing, but I totally respect it. My problem is when people argue that these products are a way of saving money (which is a far more common argument).
__________________
Now: 2022 Fully-custom buildout (Ford Transit EcoBoost AWD)
Formerly: 2005 Airstream Interstate (Sprinter 2500 T1N)
2014 Great West Vans Legend SE (Sprinter 3500 NCV3 I4)
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03-04-2019, 03:44 PM
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#36
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Platinum Member
Join Date: Jul 2012
Posts: 2,380
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Quote:
Originally Posted by avanti
There is a difference between criticizing a product and criticizing the motives of the purchaser.
I can't personally relate to the "peace of mind" thing, but I totally respect it. My problem is when people argue that these products are a way of saving money (which is a far more common argument).
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Agree with all that...
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03-04-2019, 04:51 PM
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#37
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Platinum Member
Join Date: Aug 2010
Location: Minnesota
Posts: 12,382
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Quote:
Originally Posted by avanti
There is a difference between criticizing a product and criticizing the motives of the purchaser.
I can't personally relate to the "peace of mind" thing, but I totally respect it. My problem is when people argue that these products are a way of saving money (which is a far more common argument).
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I agree also.
Sometimes people just don't have the funds available to "self insure" against a very rare worst case, even though it will be less expensive in the long run, and they don't want to be stuck with and unusable vehicle.
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