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Thelovingnomads's avatar
Thelovingnomads
Explorer
Feb 26, 2020

RV Loan and Insurance Info

Hi there! My husband and I are purchasing a $165k 2010 Monaco to live in full time. We are purchasing from a private seller and were curious about any advice anyone had on getting a loan? We have been informed NOT to disclose we are full timers when looking for a loan - however we will want to disclose this when getting insurance. We will be largely in one spot but do plan to travel on weekends and maybe an additional month or two out of the year. Any information on either of these topics would be greatly appreciated. Thanks I’m advance!
  • KPetrick's avatar
    KPetrick
    Explorer
    Feb 26, 2020
    Give us a call at Good Sam Insurance Agency. We have several carriers that will provide full time coverage. The biggest difference with full time is the added liability coverage that covers you away from the campsite. Let's say you are at the grocery store and knock someone over with your cart. Normally homeowners coverage would handle that but if you don't have a home you need the liability coverage on your RV policy.

    Keith - Director of Good Sam Insurance Agency
  • Lwiddis's avatar
    Lwiddis
    Explorer II
    Feb 26, 2020
    You won’t disclose unless asked or won’t disclose even if asked? Careful. Lying or misrepresentation on a loan application is a crime. Same for insurance.
  • Flute_Man's avatar
    Flute_Man
    Explorer
    Feb 26, 2020
    For insurance I recommend that you work with an agent and company that insures motorhomes as a big part of their business.

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