Insurance

[kevin79]

I’m in the process of shopping around for auto insurance. One company that I had quote suggested a separate policy for the camper. They said that if it is on the same policy as my cars, auto will only cover it when it is hooked up to my truck. All other times it would be up to homeowners. If it is on its own policy, it would cover it all the time.

Has anyone heard of this? Do most people do a separate policy?

[kfergiez]

While a trailer is hooked up to your tow vehicle, it will be covered under your vehicle's liability insurance.

If you want full comprehensive insurance to cover the trailer, you have to purchase that separate.

[CincyGus]

Yes, Sounds correct. I have a seperate policy. Runs $390 for a year.

Physical damage option: Actual Cash Value

Coverages Limits
Comprehensive: $500 deductible
Collision: $500 deductible
Included with Comprehensive and (if purchased)
Collision: Mexico Coverage
Fire Department Service : $1,000 Included
Emergency Expense: $750 Included
Vacation Liability: $10,000 Included
Replacement Cost Personal Effects: $5000 limit $500 deductible
Roadside Assistance: Selected $16.00
Total rate for this vehicle: $390.00

[Chuck_S]

Why would anyone need liability coverage on a trailer? It ain't going anywhere unless it's towed.

Hooked up + not hooked up = all the time.
Covered by truck + covered by home = covered all the time.

-- Chuck

[MDH]

I carry a separate policy as well. Just in case. The cost imo is small compared to camper.

[CHICKDOE]

the real issue is comprehensive and collision for your trailer. your normal auto and homeowners should cover liability claims for damage / injury to others. but they do not cover damage / loss to your trailer. that's why you may have comprehensive / collision / uninsured motorist on you auto policy. even if you have them on your auto policy these do not transfer to a trailer without specifying the trailer on the policy.

[Iwannacamp]

Only thing I can add is that mine got totaled in my drive, unhooked during a storm and my auto policy covered it. States vary i am sure.

[formerFR]

as an agent, I can attest that some companies write RVs on their own policy, some do on the same policy with the Autos, and some don't write them at all.

Are there benefits to a 'separate' policy? Maybe.


...I'll explain in the next post : )

[BandJCarm]

I will never bundle my RV insurance with my auto insurance. Not even same company.


I realize many do.

[formerFR]

RVs are different animals when it comes to whether you own a 'towable' trailer RV, or you are 'driving' a motorized RV, such as a Class A or Class C.

Yes, companies vary when it comes to whether they will add your RV to your Auto policy, whether they may only issue it under a separate policy, or whether they even write RVs at all.
Also, some agencies that you are getting quotes from may offer an Auto insurance quote with a company that does not write RVs, and have no other option than to 'suggest' that you take out your RV policy with a separate company... since that's the only way they can provide coverage for both. One company may be the best price for your autos, and another the best price and/or coverage for your RV. Sometimes a 'brand' company might work best for your Autos, but a less-well-known company might be better at 'specializing' for RVs.

I have my own autos with Safeco, and yet have my motorcoach with Foremost. The pricing difference was too great not to.

Now, as for 'coverage' differences, it's doubtful that the overall protection is 'better' just because your RV is on a separate policy. If you have your towable trailer RV on a separate policy, it 'may' then require Liability coverage, while if you have it on your auto policy, where you tow vehicle is already insured for liability, you would then not be required to, saving the difference in premium.
Would you insure your RV separately because you feel as though there are coverages that should protect you differently versus your auto policy? Maybe. In some cases, where the RV is the sole 'home', such as for 'full time RVrs', then the separate policy could add the 'Personal Liability' coverage, which auto policies do not provide. Personal Liability, which is generally part of a 'home owner' policy, and extends to liability while you are using your RV, such as if someone got hurt in your rv, tripped on the steps, etc, is a coverage that would then replace what you lose when you don't have a 'home' any longer.

Some companies, though, while they may insure RVs, DON'T write or provide 'full time' coverage with Personal Liability, leaving you to get that from a company that does. Safeco doesn't, Progressive and Foremost do, in many states.

If you have a high-dollar RV that you use quite often, and are concerned about major catastrophes or major accidents, and have a higher net worth, then you might want to consider a separate policy with a company who specializes in 'full' coverages and options for RVs, especially motorized RVs like large Class A types.
These companies sometimes offer coverages that your auto insurer may not, such as 'full-time' Personal Liability, coverage for your personal items in storage, Higher liability coverages than your personal autos, lower overall Comprehensive and Collision deductible, Glass damage $0 deductible, multi-year renewal guarantee, etc.

Separate RV policies also can benefit you in another way - they generally only require you to provide driver information for YOU, or your spouse - only those who ever 'drive' the motorized RV, even if you have teenagers of driving age riding with you. Your auto policy, though, will always require you to list ALL drivers of age in your household, which could drive up the overall cost of your RV coverage if it is on the same policy.

While most who own an RV can easily add it to their auto policy, especially if it is a simple camper, some with larger RVs, such as fifth-wheels and motorized RVs, may want to consider other options. Your auto insurer may be just fine for all your needs, but a separate policy, with another company, may work better for some others.

[whj469]

Replacement valve may be important to some if you. For the first five years they will buy you a new RV if yours is totaled. After that it can be agreed valve or some type of book value.

[tcrossan]

Whj469,
Are you saying that all insurance company's will replace my brand new trailer until its 5 years old? We are shopping now for better rates due to dramatic increase in our coverage cost since buying our new Cedar Creek. Several of the insurance firms want to know the MSRP of our unit. Maybe that's why?

[TeachTexas]

Originally Posted by tcrossan

Whj469,
Are you saying that all insurance company's will replace my brand new trailer until its 5 years old? We are shopping now for better rates due to dramatic increase in our coverage cost since buying our new Cedar Creek. Several of the insurance firms want to know the MSRP of our unit. Maybe that's why?

Not all, but it is out there. You also may have to contend with it not being an option to add in some states. I like stated value coverage since it will pay that amount no matter the age of unit.

[whj469]

I wouldn't do stated value until the five years where they provide replacement value was up. After the five years they go to stated value or agreed value.

[tcrossan]

We shopped 5 or 6 carriers and all were more than our current Travelers policy. Amazing how the cost went from <$90 annually to >$600 when the insured "value" increased 4 times.
We're out of time now so we will just live with it but seems to be bordering on a mindset that since so many "boomers" are in the RV mode these days the insurance companies can take advantage of the increased market.
It is what it is!
Thanks for all the input.

[whj469]

When I went from a Wildcat to a Cardinal mine doubled and when I asked why they said value of the new fiver.

[tcrossan]

I can understand that. Having trouble understanding 600% increase!
I can afford the insurance so that's not my point. I'm feeling like I'm getting gouged by the insurance industry. Wouldnt be the first time I've been gouged nor the last I suspect!
Thanks for all the input.