I have an 2003 H466 and was recently contacted by a company selling Hunter endorsed extended warranty service. It will cover everything except the standing rigging, the hull and the engine through 2008. $50 per incident for covered items. Has anyone else signed up for this coverage and what has been your experience? Thanks
Extended Warranty
- Thread starter fitz7525
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fitz,
Sorry, but I'm going to bestow upon you a 'Fred's rule'. "Insurance costs twice as much as you are likely to lose".
Sorry, but I'm going to bestow upon you a 'Fred's rule'. "Insurance costs twice as much as you are likely to lose".
Never buy extended warranties
Unless they come free and there is no way to remove it from the deal for a refund
Unless they come free and there is no way to remove it from the deal for a refund
This is a no-brainer
I have a 2004 Hunter 41 which I keep in Key West, Florida. I purchased the extended warranty for my boat which extends the mfrs. warranty by 4 years, giving me 5 years total, bumper to bumper. The total cost was about $1,600 with a $50 deductible per repair. What a no-brainer! What if my AC dies ($5,000), electronics ($3,000), TV/entertainment system ($2,500), chart-plotter ($3,000), every system is covered, how can you go wrong? I hope I never need it and if so, I guess I wasted $1,600 but it sure is nice to know that it's there if needed. So far, I replaced the microwave, only cost me the $50 deductible and now I have a brand new microwave. Fred's Rule is valid unless something happens, then Fred's Rule means you have to bankroll the risk, which to me is not worth it. Insurance companies make money by spreading the risk over a large group which we, as consumers, are not able to do.
I have a 2004 Hunter 41 which I keep in Key West, Florida. I purchased the extended warranty for my boat which extends the mfrs. warranty by 4 years, giving me 5 years total, bumper to bumper. The total cost was about $1,600 with a $50 deductible per repair. What a no-brainer! What if my AC dies ($5,000), electronics ($3,000), TV/entertainment system ($2,500), chart-plotter ($3,000), every system is covered, how can you go wrong? I hope I never need it and if so, I guess I wasted $1,600 but it sure is nice to know that it's there if needed. So far, I replaced the microwave, only cost me the $50 deductible and now I have a brand new microwave. Fred's Rule is valid unless something happens, then Fred's Rule means you have to bankroll the risk, which to me is not worth it. Insurance companies make money by spreading the risk over a large group which we, as consumers, are not able to do.
I agree!
Fred's rule is great, but just because the policy is profitable for the company doesn't mean it's a bad deal for the customer-I don't buy extended policies for my dishwasher-reliable and low dollar risk-but the stuff on the boat takes a beating and is $$$$$$! sure, if nothing breaks I added less than one percent to the cost of my boat, but if something does I almost certainly get my money back and then some. the coverage on $12,000 of electronics alone is arguably worth it!
Fred's rule is great, but just because the policy is profitable for the company doesn't mean it's a bad deal for the customer-I don't buy extended policies for my dishwasher-reliable and low dollar risk-but the stuff on the boat takes a beating and is $$$$$$! sure, if nothing breaks I added less than one percent to the cost of my boat, but if something does I almost certainly get my money back and then some. the coverage on $12,000 of electronics alone is arguably worth it!
There's another rule.
I didn't coin it.
It goes something like this; 'It depends'. You guys are buying security and comfort by transferring risk. Swell, but don't forget to look at the risk you are transferring. The microwave I installed on my boat has all the bells and whistles. It's a Costco special. $29.95. It just depends on how much you are willing to underwrite with your own cash and sweat equity or if you just want to pick up the phone and cut a check. It comes down to 'cash vs time'.
I didn't coin it.
It goes something like this; 'It depends'. You guys are buying security and comfort by transferring risk. Swell, but don't forget to look at the risk you are transferring. The microwave I installed on my boat has all the bells and whistles. It's a Costco special. $29.95. It just depends on how much you are willing to underwrite with your own cash and sweat equity or if you just want to pick up the phone and cut a check. It comes down to 'cash vs time'.
fred's rule2
As usual, Fred, you've succinctly summed it up! I do almost all of my own work, but I priced the pieces I considered at risk and and thought the policy was worth the piece of mind, As you said, it depends....
As usual, Fred, you've succinctly summed it up! I do almost all of my own work, but I priced the pieces I considered at risk and and thought the policy was worth the piece of mind, As you said, it depends....
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