RV insurance

[flbradjr]

Is additional RV coverage necessary since the RV is covered while being towed.
Is additional insurance necessary while it sits at my home?
I'm thinking of changing Auto & Home Insurance carriers.
And insurance quotes for RV coverage are all over the map.
Currently $70 for Comprehensive (200 deductible) & glass (200 Ded).
New guys $102, $122, $268. All with different options.
Do folks have a basic coverage or extensive or something in between.
Thanks for looking at my post.
flbradjr

[JohnB]

Hi Brad,

I'll pass along some questions for you to ask your insurance agent before buying, and pending their answers, you can make up your mind if what they offer is good for you. Insurance companies and policies are different, so best to confirm what yours is quoting. Here are some things I learned along the way.

Adding a camper to an auto policy is often the cheapest option. However, the coverage is different and limited, pending on the situation.

RV policies offer more coverage and many times independent of the tow vehicle. RV policy coverage is in effect in almost all situations regardless of what the tow vehicle is doing.

Let's talk about the camper first on a “used” camper. I say used as new campers have an additional offering. There is depreciated value (actual cash value) coverage and agreed-on value some companies offer.

Depreciated value is like your truck; the day an accident happens, the insurance adjuster looks at the camper for damage and then looks up in their “book” the actual cash value of your age camper at the time of the claim. If the damage is over the actual cash valve, they consider it totaled and will only pay out the depreciated value and keep the camper, trying to sell it for scraped parts, etc., maybe, if they feel they can recoup anything. If it is under the value, a deductible comes into play, and they may only pay out the claim less the deductible.

Agreed value, when offered and you request it, is an agreed valve when the policy is created or updated. In their book, the insurance company looks up the range of value the camper is at the time they are quoting. In this case, when a claim comes in, if the camper gets totaled, they will payout the agreed value as the years go by. The deductible can come into play here, too, pending the company. The agreed value helps create a somewhat depreciation-proof setup, but the company may only offer it for 10 years, etc., from the start of the policy and then revert to the actual cash value. This policy costs more for the agreed value.

Next comes more detailed things. The biggest is the auto policy rider versus an RV policy. Here is where you need to confirm with your agent what is covered or not.

When the camper is hitched to the truck and leaves your property on an auto policy, you have coverage for whatever the policy rider calls for. Coverage can stop at a campground when you unhook the camper and are not on your property. The camper unhooked from the truck can end up not having coverage. This is something to watch out for. Campers are a different kind of trailer. Most often, a utility trailer that goes to the lumber yard is not unhooked from the truck, but a camper can be. This is where the RV policy can have coverage whereas the auto rider does not.

When the camper is on your property and unhooked on an auto rider policy, your homeowners may provide some coverage, something to check. The RV policy most times does not care where you are if still in the USA, outside the US, Canada and Mexico is something to check.

Next deals with personal effects and liability. The RV policy has line items for both. The Auto rider may or may not offer coverage when unhooked from the truck off your property. Homeowners or a separate umbrella liability policy might cover something, you must check. The RV policy states limits for both regardless of where you are or hooked to the truck or not.

Ask these questions,

1. If your camper is unhooked from the truck at a campground and catches fire, what is covered, for the camper, the personal effects and liability?
2. If your camper fire damages the campground or the camper next to you etc. does your insurance cover any of this?
3. If the camper burns down on your property which policy covers it?
4. If you are towing down the road, loose control and total the camper and the truck, (your fault) is there coverage? This is where collision comes into play.

Now what to do? All Sunlines are old now. Older ones have less total value then the newer ones. What is the value of the camper if it gets totaled and are you OK with not collecting very much? Then there is the liability and your personal effects. While you may decide, the camper does not have enough value in it if totaled to justify trying to insure it, and you might consider taking the chance. But make sure the personal effects and liability have coverage in some form. If you have a newer laptop computer and 2 new cell phones in the camper not to mention clothes etc., can you afford to lose all of that for theft or fire etc.? The liability is a big one, if your old camper creates big damage at a campground, what policy covers this? Ask what is covered by your homeowners, liability policy and what an auto policy rider will or won’t cover.

What did I do with my TT campers? I have them on an agreed value RV policy. Yes, it costs more but I know what a total loss will be provide, either fire on my property or off property, an accident on the road, along the personal effects and liability. The cash value RV policy offers the same personal property and liability, it is just the payout on the camper total loss is lower as the years go on.

I’m not an insurance agent by any stretch, just this is what I found out along the way. And my insurance company may be very different than yours. When we bought our first new popup, I had it on an auto rider. It was dirt cheap, and I had no idea I had I was not covered when I unhooked it at the campground. The move to TT’s made me investigate this deeper.

Hope this helps.

John

[flbradjr]

As usual you do an excellent job with your explanations. I'm going back to the drawing board (insurance agents). Thanks again FLB

[JohnB]

Brad,

Thanks for the good words.

Let us know how you make out. We all learn something from these ordeals....

John

[flbradjr]

So I decided to stay with my existing insurance carrier. We were having a discussion over the value of my dwelling for replacement coverage. They were 25% higher than the quotes I had from two other carriers but have since adjusted their quote. Staying with them gives me the lowest cost - the $70 option - therefore the lowest coverage - but I'm rolling the dice.

[JohnB]

Thanks for reporting back.

Reviewing insurance, yes, a topic in itself. Our home owners and auto policies were old, 20 years old. The home was total replacement value and the value in the policy kept increasing to keep up with inflation. We thought all was good, and it was, other than the premium. Same on the auto policy.

Then we moved, and retired. The move itself forced a home change and low and behold the new policy has move value coverage and is cheaper. I was shocked... new home insurance can be cheaper than older homes regardless of value. As time will goes on, the new place gets older and the costs will slowly keep creeping up, but we are saving in the process.

The auto, well the older policy just plan cost more. After requesting what can be done to lower the premium, there are new policies with almost the same coverage, you just have to give up a few minor things to us. We saved a bunch of money, just for asking.

Point: Every few years, just ask your insurance agent, are there any new policies you can offer to save money? If you do not ask.... The days of the older insurance salespeople doing annual or bi annual reviews just for you, are not like they use to be.

[Stubborn1]

Good Thread! I went to our agent and said I wanted coverage for when unhooked, our yard or campgrounds for example. We already covered a cargo and utility trailer. All precious to us. This asking further about contents I really don't know, but plan to ask asap!