Extended Warranties

M

MuskokaNuts

Member
Joined
Sep 21, 2011
Messages
11
Fluid Motion Model
C-24 C SE
Hull Identification Number
USFMLT2123K0
Vessel Name
Quorum
I purchased my R21EC this summer and have been asked if I would like to purchase a 5 year Extended Warranty. I surprised myself by initially thinking that it was a good idea -- the only time I purchased one for a new car, it was the dealership that came through for me, not the Extended Warranty people.
Does anyone have any experience with Extended Warranties on boats?
I would be grateful for any and all input, especially Maintenance issues others might have had on their R21's that an extended warranty might help with.
Looking at this site since my purchase, there does not seem to be much in the way of maintenance problems.
Thanks, and ONLY 5 more months to boating season here in the frozen tundra!
 
When I purchased my R21EC last year, I asked about an extended warranty. I was told the factory does not have one and my dealer did not know anything about one. I could not find one online. Who offered you the extended warranty and what does it cover?
 
Generally speaking, extended warranties are a losing proposition for the insured or the insurer would not be issuing them. What it generally boils down to is how you evaluate the odds of one of the small percentage of claims that actually happen, happening to you. And whether, if you were not insured, you could cover the expenses. Obviously, that is a highly personal decision.

It is a bit like life insurance in that you are betting something will happen to you before the premiums you paid, and what you would have earned with the money had you not purchased a policy, total more than the value of the policy. Again, in most cases, you lose or the insurer would be out of business.

I have heard Clarke Howard expound on this a couple times. I don't slavishly follow Howard, but on the few occasions I hear him, I think he is as sound as any on consumer and finance issues. Here is a link I just found by searching:

http://www.clarkhoward.com/videos/clark ... ranty/vHC/

Here's a quote from an item on his site that also showed in the search. It is perhaps relevent to a boat, but the builder/dealer warranty is not available anyway..... As he mentioned, the quality on most products is better than ever, and the basic manufacturer's warranty should cover what we called "infant mortality" in the computer industry. That is, if it makes it for the first 60 or 90 days it will most likely make it for as long as its expected design life.

"The only meaningful exception to my extended warranty rule is on a car. Yet I only suggest you consider a warranty if you know you don't have enough savings to pay for a major component of a car breaking. (If you have the money to pay for a big repair, don't buy that warranty.) And then I only suggest the car manufacturer's own warranty; never buy a third-party auto warranty."

My guess is that the offer came from one of those outfits that might or might not be around if you ever had a claim anyway. I guess you can put me in the "No" column.
 
The extended warranty is marketed by SAL Marketing/called SAL Protection Plan. Seems to be associated, in some way, with Industrial Alliance Pacific General Insurance. They are in Vancouver, B.C. Telephone 1-888-444-9989
The information was given to me by the gentleman who sold me the boat, at the Ranger Dealer here in Ontario. Lefroy Harbour Yacht Sales. Both great to deal with.
 
Sorry, last post was incomplete.
There are 4 diferent basic coverages, one of which is for Inboard Engine.
And there is a "Stand alone Cabin Plus" coverage and a "SportPlus" coverage.
Basic is for :engine,lubrication,fuel,electrical,steering, controls, transmission
Cabin includes : ac & heat,fresh water and waste, cooking, fridge, accessories
Sport : electrical accessories, stereo, canvas top, trailer anchor controls and more
 
I did a Google search on the Sal Protection Plan and found there are a lot of companies offering the plan in Canada, including BMW and VW. As discussed earlier, I would still be leery of third party protection plans because they are notorious for not paying off. I found this pamphlet for Sal http://www.toyloan.com/index.php?action=display&cat=11&doc=Marine_Brochure.pdf and they say they will pay $100 for various limited services. I think you can do better with AAA or TowBoatUS, if you can find something comparable in Canada.
 
Thanks for the information and ideas on extended warranties.
Much appreciated.
Rick, sometimes skipper sometimes crew of Serenity
 
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