My husband and I purchased a used RV in August, because we wanted to spend some fun family times with our three boys before they were old enough to leave home. We purchased it through Quality RV in Portland, Oregon. The finance person seemed genuinely concerned, honest and helpful. We were hesitant to purchase a used RV but couldn't afford a new one. He assured us we would have no worries if we purchased a used RV warranty through First Assured Warranty Corporation. "One of the better companies." It was $1,400.00 for a three year contract that only covered the truck part of the RV. He also assured us that we could request a refund at any time and would receive a prorated amount.
In September, we took the RV in for servicing and the repair shop told us it needed a new transmission. They contacted First Assured and were told that they would cover the repair if they would send them a broken part off of the vehicle. The result being that we spent $300.00 in diagnostic testing, etc... And went home to wait until the transmission left us stranded somewhere so that we could send First Assured a broken part and get approval for the repair. This week we received in the mail a Notice of Liquidation Order from the state of Hawaii notifying us that PrimeGuard (another name for First Assured) had been deemed insolvent and was being liquidated. Our policy would end 30 days from the date of the liquidation order (December 19) which was 5 days prior to us receiving the notice. This is THEFT.
How could they not have known 4 months ago that things were bad and they should stop selling policies? How did the dealer not know anything about this? It was definitely the policy that was pushed. It seems like First Assured was still writing new policies so that they could try to get money into their bank account to handle their insolvency issues.
The address on our policy is out of Greenwood Village, Colorado, which isn't where the head company is located. This seems pretty deceptive. I can't believe that we have no alternative but to file a liquidation claim, get a tiny amount back, if any, and are now without a warranty and know that we will have a $3,500.00 transmission repair in the future.
So much for camping with our kids. I would be happy to just unload the RV. I wonder if they consider all the sadness and disappointment they cause by doing business in such an irresponsible way.
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