RV Insurance / Liability Umbrella

Mike and Trish wrote:

Klueck wrote:

Texas Two Steppers wrote:
If you are a full-timer and don't own any anything else why carry an umbrella since your only exposure is your rv? I carry $500,000. liability and full-timers thru GMAC with 3 vehicles (car, truck and fifth wheel)for $1,500./yr. I also carry $300,000 liability thru Farm Bureau on some grazing land I own and rent which runs about $110./yr.

I disagree. Your only exposure is not just your RV. If you cause an accident with damages over your liability limits on your RV, they you are personally responsible, which is why an umbrella policy is needed in some cases.

An umbrella liability policy is there to protect you from anything (with exceptions, of course) that someone might sue you for. Vehicle accidents with damages exceeding your car or RV policy limits, or someone getting injured on your property, are only the obvious ones. You could accidentally start a fire, or injure someone while trying to give CPR. You could be sued for libel or slander. And do you own a gun? Think about the potential liability there.

To me, it's cheap peace of mind. If you don't have much, you might feel like you won't have much to lose, or wouldn't be a target for a lawsuit. But if you've spent your life working toward retirement, and don't want to be forced into poverty by a lawsuit in your golden years, make sure you have enough coverage.