Extended Warranties on Used Boats

[rnjpinz]

I am getting ready to purchase my first sailboat. 98 Caliber 40. My broker is recommeding I buy an extended warrenty from an insurance agent. I would appreciate any input on extended warrenties. I am actually not one to buy extended warrenties. I have always felt that if the product is good, I don't need a warrenty. Any thoughts.

Bob

[Pblais]

Warranties are mostly about showing up. You'll be required to show up some place for repairs. It takes a lot longer than you think so read the fine print. It's an insurance policy against a bad survey. I'm sure it has huge limitations. The broker collects on the sale of the warranty too. Used boats ALWAYS have problem - later. New boats are assured to have problems too. They have a factory warranty and they dog you to death collecting.

Personally, no one works on my boat that I don't know by reputation. Don't allow strangers to work on your boat unless it's just the only way. Buying a warranty means they can send any fool they want. It's fine for your lawn mower.

[Pblais]

98 Caliber sounds like a nice boat too!

[rnjpinz]

Paul,

Thanks for the reply. I have always thought that if it was built right, I shouldn't need a warrenty. I am very perticular and don't like strangers working on my equipment.

Bob

[DRS]

Don't think of it as a warranty. It is bought from and insurance company and is really just that. Insurance against possible trouble later on. Read the exclusions and decide for yourself if you want to take the risk or not. Insurance is a great buy if you need and use it. Not so good if you paid for it and nothing happens. Your personal comfort level with the condition of the vessel (after appropriate inspection / survey) will determine if you should buy the extended "warranty".

[Pblais]

I have always thought that if it was built right, I shouldn't need a warranty.

Things will happen and things will need to be fixed. You just need to get used to it. Boats are a lot of work. The warranty won't change that much. Do a survey and start planning. Lots of stuff you do yourself and the rest you learn about. If it was built right it will still need work. If it wasn't built right a 1998 boat would show it by now. You'll be amazed what 2 years will bring. Age on boats takes it's toll.

On new boats they take about 9 months for all the warranty work to show up and who knows how long to fix. After that it's just the normal stuff that keeps you busy.

[tallyhorob]

I would never buy an extended warreny from the same people who are selling me an item, its almost always some type of kick up deal and piss poor covarge. If you feel better having one, do some research on them and find a company that meets what you want and go with them. Do this before buying the boat. And make sure you get a survey and not from the guy that the sales person told you to use either. Ask around call you future insurance company, see who they use, you might need it for them anyways later, and look hard at the boat. But just like a house there is ALWAYS something, it never ends