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Old 04-13-2014, 04:54 PM   #1
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insurance

Shopping for insurance for my fifth wheel trailer that should arrive any day. Is there any advantage or disadvantage to having RV insurance with a different company than the TV? I inquired at several RV dealerships about which insurance carriers are good to deal with and they point to one or two companies. My own TV insurance company will cover and costs are similar for both. So what are suggestions please? Same company as TV or recommended by dealers as good to work with??
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Old 04-13-2014, 05:44 PM   #2
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There may be better or cheaper ways to do it, but we have State Farm. We have the house, car, truck, and 5th wheel all insured through them. It was convenient for us and the 5th wheel only costs about $27.00 a month. We only have to worry about dealing with one company and one bill.
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Old 04-16-2014, 05:57 PM   #3
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The advantage if having both policies with the same company is that they can't point the finger at each other. In reality it should be fine.
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Old 04-17-2014, 03:51 PM   #4
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There can be a problem with just adding an RV to an auto policy. Many auto/RV insurance companies will only pay ACV as opposed to replacement cost. Most RV insurance policies will pay replacement cost for the first five years for RVs. This is important because if an RV is financed, unless a very large down payment was made, you will owe more than ACV and should the RV be totaled, you can end up oweing a lot more than they will pay you. Good Luck PS: we insure with Good Sam and it was the cheapest we could find for our fiver in February 2012.
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Old 04-17-2014, 04:16 PM   #5
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Replacement cost vs. current value varies from plan to plan. Basically though, expect to pay more for replacement cost on any insurance policy vs that same company's current value.

Usually the biggest benefit to combining your policies is for the multi-policy discount. Almost every insurance company offers some form of one ranging anywhere from 2-25%.

Your best option is to price out several companies, and to make sure you're comparing apples to apples (ie. replacement cost vs replacement cost, loss of use vs loss of use, 1M libability vs 1M liability, etc...) Sometimes the guy who seems cheaper really isn't, he just quoted you the lesser coverage.
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Old 04-17-2014, 04:31 PM   #6
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State Farm was way to much on adding a motorhome. Compared to others, they were 75% more. Thats with excellent standing, accident free, etc. Then when you dropped them after a year with them, they were down right nasty (albeit their agent) on talking down their competitors.

Bottom line its isurance, compare and go with the cheapest I say, with the coverages you want to have.
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Old 04-17-2014, 04:34 PM   #7
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My thought is this, unless the TT is hooked up to the auto, there is no liability that extends from the auto for the TT while parked in the campsite and you may drop the awning on someone or the step breaks while they are entering. So I would be very careful adding to your auto policy unless they provide that coverage. Also a claim on the TT goes against that policies overall premium so using a separate company to insured your vehicle may be a good idea. I would recommend checking with your auto carrier to see if it extends liability while parked and disconnected from the TV. Also the purchase of an umbrella policy would alleviate those gaps in coverage. So it's not only the physical damage of the trailer, it's the Liability also that you should look into.
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Old 04-17-2014, 04:48 PM   #8
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Be aware that when you start splitting your vehicles between insurance companies "some" punish you with higher premiums on your PLUP (personal liability umbrella policy). I've seen it upclose.
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Old 04-17-2014, 04:53 PM   #9
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Motorhome vs Travel Trailer or 5th Wheel

While yes some companies may raise your umbrella rate if you insure your motorhome with a carrier other than your auto carrier, this is not true when it comes to TT or 5th Wheel. And if you go with an A+ rated carrier for your Motorhome you may not pay more. This will vary from state to state depending on the rules that apply.
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Old 04-17-2014, 04:56 PM   #10
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Who assigns A+ ratings to insurance companies for motorhome coverage.
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