150 percent Insurance Rate increase

[PhilFromMaine]

I just got my invoice for travel trailer insurance from State Farm Insurance Company. It rose from 316.00 dollars per year to 481.00 dollars per year. That is a 150 percent increase over last year. My agent told me that that was an across the board increase for all travel trailers.

That amount is about the same I pay for my 2020 Silveraldo that I drive every day. The average RV user uses his RV an average of 4 weeks a year and in my experience of that 4 weeks only about 8 days are actually on the road. The rest of the days the trailer is safely parked.

Later today I am going to study my policy to determine exactly what I am getting for that 481 dollars.

 

[Nick Danger]

I just got my invoice for travel trailer insurance from State Farm Insurance Company. It rose from 316.00 dollars per year to 481.00 dollars per year. That is a 150 percent increase over last year.

481 is a 165 increase from the 316 stated. The math actually works out to be a 50% increase (not 150). Just trying to help. Still a significant jump that should be looked into.

 

[D W]

After 8 years, my TT insurance finally went down $32. Insurance anymore, is like real estate, location, location, location.

 

[NMWildcat]

All types of insurance have gone up across the board. Increase from 20% to 35% are common. Depending on where you live, it may be more. 50% seems excessive, so shop around or contact your agent/company to investigate

 

[Iwritecode]

The last time I questioned my insurance company about my rates going up every single year despite me never making any claims I was told it was because the cost of the materials and labor that would be required to fix my house/vehicles (should I ever actually make a claim) were going up.

 

[Bob K4TAX]

Time to start shopping for insurance. There are better deals to be had. There is no value to being in allegiance with one agent or company.

Bob

 

[Sunseeker16]

I got tired of Alllstate increases so I shopped around. Took everything to Progressive, house, 3 cars, the motorhome and an umbrella policy. Got better coverages and I'm saving $2,400 this year. Might get raped at renewal and if so off to shopping again.

 

[PhilFromMaine]

481 is a 165 increase from the 316 stated. The math actually works out to be a 50% increase (not 150). Just .trying to help. Still a significant jump that should be looked into.

I think we are both correct. Plug it into any calculator and the result (rounded off of course) is that 150 percent of 316 is approximately 481 dollars which is also approximately a 50 percent increase in a value of 316 dollars.

 

[Larry-NC]

Progressive?

After 8 years, my TT insurance finally went down $32. Insurance anymore, is like real estate, location, location, location.

Progressive dropped our price also. We've never made a claim, but they've been real responsive to questions.

The campground where the Cherokee 38P is sited wanted to be listed for liability coverage in Virginia, and the phone agent knew exactly how to do it. (They list the campground as having a lien on the trailer. No extra charges or fees for this--just one phone call.)

 

[PhilFromMaine]

Progressive dropped our price also. We've never made a claim, but they've been real responsive to questions.

The campground where the Cherokee 38P is sited wanted to be listed for liability coverage in Virginia, and the phone agent knew exactly how to do it. (They list the campground as having a lien on the trailer. No extra charges or fees for this--just one phone call.)

Larry, I am not sure I understand. The Cherokee is in VA and Progressive fudged the paper work indicating that the campground had a lien on the RV in order for them to write liability coverage?

 

[Larry-NC]

I got tired of Alllstate increases so I shopped around. Took everything to Progressive, house, 3 cars, the motorhome and an umbrella policy. Got better coverages and I'm saving $2,400 this year. Might get raped at renewal and if so off to shopping again.

I have had progressive for 12 years. Never a price increase. $32 decrease this year.

 

[Qwkynuf]

Larry, I am not sure I understand. The Cherokee is in VA and Progressive fudged the paper work indicating that the campground had a lien on the RV in order for them to write liability coverage?

They most likely added the campground as an "additional insured". This is most commonly done for lien holders, but also for other reasons. As an example, I sometimes use my personal car to drive to customers for my work. My employer is listed as an additional insured on my personal car insurance.

In general, it just means that If I crash into someone and they sue me and my employer (because 'big pockets', duh), my insurance will cover the claim against my employer for my actions, up to my policy's liability limits.

 

[acdii]

Got my next payment email, a $100 a month increase for 2 cars, a truck and 5th wheel. I just did an online quote with Progressive and it is $1500 lower for 6 months, without the RV. RV is $400. $1800 a year on a 2024 F350 DRW, and $1600 a year on a 2014 Ford Flex! I have a perfect driving record with over 800 credit score, that pricing is insane.

Now to locate an insurance company that can cover the 5th wheel and possibly truck too.

 

[NXR]

Got my next payment email, a $100 a month increase for 2 cars, a truck and 5th wheel. I just did an online quote with Progressive and it is $1500 lower for 6 months, without the RV. RV is $400. $1800 a year on a 2024 F350 DRW, and $1600 a year on a 2014 Ford Flex! I have a perfect driving record with over 00 credit score, that pricing is insane.

Now to locate an insurance company that can cover the 5th wheel and possibly truck too.

Which state are you in?

Ray

 

[acdii]

Which state are you in?

Ray

Hellinois.

 

[Larry-NC]

Larry, I am not sure I understand. The Cherokee is in VA and Progressive fudged the paper work indicating that the campground had a lien on the RV in order for them to write liability coverage?

Yeah. The campground operator did not want to be liable if someone were injured in/around our trailer, so he wanted to be added to our (everyone's, actually) insurance policy. Progressive's practice to accomplish this was to include the operator in the area of the form where lien holder is usually added.

 

[Larry-NC]

Got my next payment email, a $100 a month increase for 2 cars, a truck and 5th wheel. I just did an online quote with Progressive and it is $1500 lower for 6 months, without the RV. RV is $400. $1800 a year on a 2024 F350 DRW, and $1600 a year on a 2014 Ford Flex! I have a perfect driving record with over 800 credit score, that pricing is insane.

Now to locate an insurance company that can cover the 5th wheel and possibly truck too.

Sometimes it's better to split it out. We have Amica on the house, SUV, and truck. We self-insure the 2002 trailer (car liability covers it when towing). The 2008 is covered by Progressive.

 

[Bob K4TAX]

We have State Farm for the truck, trailer and house. Whatever it costs, I just pay the bill. I've shopped around for lower rates, and I find there is a trade-off one way of the other. When and if the trailer cost too much, there is always Motel 66. (Are they still around?)

Bob

 

[TitanMike]

We have State Farm for the truck, trailer and house. Whatever it costs, I just pay the bill. I've shopped around for lower rates, and I find there is a trade-off one way of the other. When and if the trailer cost too much, there is always Motel 66. (Are they still around?)

Bob

I think you meant Motel 6. Actually stayed on one when rate was $6.95/night.

Last I looked they are more like $75/night.

 

[Reverse_snowbird]

We had both liability and comprehensive on our trailer.
When State Farm raised our rate dramatically, we went insurance shopping.
If you check their website, they don't even advertise rv insurance.