5th wheel insurence

[southbound]

I know this topic has mentioned before but I would like to get some of your opinions. Our 5th wheel is now 8 years old and we just got our yearly ins bill. This year it jumpe $85 more. We called our co but the person who handles it is off today. Just a thought should't it decrease with age. Personally I think what we pay is way to high $785 for 2016. Yes we do still owe on the 5th. Any helpful answers would be appreciated. Thank you and Happy holidays to you all.

[Charlie_D_]

justme wrote:
I think you will be surprised, if you talk to a reputable insurance agent or lawyer as to how a trailer should be insured as apposed to a motor vehicle. I cut my trailer insurance premiums significantly by clarifying and understanding the differences after getting educated my insurance agent.

I see this post has been resurrected and I am interested in your comment. I could call my agent but would like to hear what yours said first.

Called my Farm Bureau agent yesterday because my RV insurance with Good Sam (National Interstate) is due next month and has its first increase in several years. One year is about $100.00 less than Good Sam BUT coverage is for actual cash value. Good Sam, in the event of total loss, will pay my original purchase price.

I was asked what I estimated the value of my rig was and I said I had no idea. After a moment she gave me a value 1/2 the amount I paid for it. Doesn't surprise me as I know they depreciate quickly.

[kennethwooster]

I had used State Farm for about 25years. Decided to check after price went up a lot. Went to an independent agent. They got me on Progressive, Car, Truck, Liberty, and Cameo. It was definitely cheaper. Had some rood damage on 5th (my fault). They called it in with trailer 120 miles from my home. I had left it in Amarillo for repairs. Adjuster went to shop, looked it over and told us if we needed more money to do a good job they would pay more. excellent service.

[NC_Hauler]

Chrisatthebeach wrote:
Shop around, I have had mine with Geico since 2009, I have shopped but they still have the lowest price. It has never went up since I insured it. I do also have my other cars on the same policy.

I too shopped around for insurance this past fall on the 2016' Jayco and Progressive was cheaper with better deductibles than Geico...must be a state to state thing?..even bundling vehicles and camper, Progressive was lower priced than quite a few others that we checked.

[ol_Bombero-JC]

Willcamp4 wrote:
CSAA charges me $89.00/yr including Comp/Collision. I had been with them for 38 years, tried switching to State Farm and that lasted 3 weeks. I switched back when they (State Farm)immediately started changing the terms of our monthly bill. Went back to CSAA and staying there. Of course, I'm not full time and I've never had an at-fault accident or a citation, which I would imagine helps.

The $89. sounds like a roll-in with your auto policy - may
not be the way to go......but -

Some readers (self included) are not familiar with "CSAA".

National or regional company?

A complete name might help...:W

.

[Willcamp4]

CSAA charges me $89.00/yr including Comp/Collision. I had been with them for 38 years, tried switching to State Farm and that lasted 3 weeks. I switched back when they (State Farm)immediately started changing the terms of our monthly bill. Went back to CSAA and staying there. Of course, I'm not full time and I've never had an at-fault accident or a citation, which I would imagine helps.

[Cummins12V98]

Cummins12V98 wrote:
I contacted our agent. Our RV is attached to truck policy. It costs $277 per 6mo with up to $100k coverage I think $500 deductable.

OOPS typo above, 6 mo cost is actually $227.

[Cummins12V98]

Likes to tow wrote:
The value of RV's decreases very rapidly each year. Try to trade one in or sell it! You should be able to find the "true market value" of yours by asking a dealer and insure for only that amount. If you paid say $50k for it new then why should you be insuring it for that 5 years down the road when it's actual value would be say $25k. If it becomes destroyed the insurance company will try to give you $20k!!!!

Paid 120K but only insured for 100K, no doubt we lost that much first day of use!

[Charlie_D_]

Likes to tow wrote:
The value of RV's decreases very rapidly each year. Try to trade one in or sell it! You should be able to find the "true market value" of yours by asking a dealer and insure for only that amount. If you paid say $50k for it new then why should you be insuring it for that 5 years down the road when it's actual value would be say $25k. If it becomes destroyed the insurance company will try to give you $20k!!!!

You can purchase insurance that will pay you replacement cost for a number of years. Not sure but it could go as long as 5 to 7 years.

[Likes_to_tow]

The value of RV's decreases very rapidly each year. Try to trade one in or sell it! You should be able to find the "true market value" of yours by asking a dealer and insure for only that amount. If you paid say $50k for it new then why should you be insuring it for that 5 years down the road when it's actual value would be say $25k. If it becomes destroyed the insurance company will try to give you $20k!!!!

[Cummins12V98]

I contacted our agent. Our RV is attached to truck policy. It costs $277 per 6mo with up to $100k coverage I think $500 deductable.

[boshog]

Cummins12V98 wrote:

boshog wrote:

Cummins12V98 wrote:
I don't think I pay more than $350 a year for our 16 Mobile Suites. It is based on a determined value and is a RYDER on the truck policy. VERY CHEAP. I use farmers Ins.

I have Farmers for home, two trucks, two cars, Harley Davidson, and the 2015 Montana. Farmers does not insure the Montana or the HD, they broker it to Foremost. I pay $735 for the Montana with a $1000 detectable.

I know coverage varies drastically by state, I'm in Michigan.

Interesting, I have a Boat that they insure thru Formost. RV is part of the truck insurance.

What is your domicile for insurance purposes?

I found it intersting Foremost carries my fiver insurance when the Farmer's web site indicates they do; http://www.farmers.com/recreational/5th-wheel/ I'll have to have a chat with my agent.

I also found this statement interesting from the Farmer's site; "The biggest mistake many fifth wheel owners make is insuring their rig on an auto policy."

You may want to revisit your coverage.

[Cummins12V98]

boshog wrote:

Cummins12V98 wrote:
I don't think I pay more than $350 a year for our 16 Mobile Suites. It is based on a determined value and is a RYDER on the truck policy. VERY CHEAP. I use farmers Ins.

I have Farmers for home, two trucks, two cars, Harley Davidson, and the 2015 Montana. Farmers does not insure the Montana or the HD, they broker it to Foremost. I pay $735 for the Montana with a $1000 detectable.

I know coverage varies drastically by state, I'm in Michigan.

Interesting, I have a Boat that they insure thru Formost. RV is part of the truck insurance.

[justme]

RAS43 wrote:
Trailer will need collision and comprehensive. If one hits something while moving with the trailer the damage will fall under the collision. That was just discussed here recently and I also had an incident with a tree limb while traveling on a street.

I think you will be surprised, if you talk to a reputable insurance agent or lawyer as to how a trailer should be insured as apposed to a motor vehicle. I cut my trailer insurance premiums significantly by clarifying and understanding the differences after getting educated my insurance agent.

[boshog]

Cummins12V98 wrote:
I don't think I pay more than $350 a year for our 16 Mobile Suites. It is based on a determined value and is a RYDER on the truck policy. VERY CHEAP. I use farmers Ins.

I have Farmers for home, two trucks, two cars, Harley Davidson, and the 2015 Montana. Farmers does not insure the Montana or the HD, they broker it to Foremost. I pay $735 for the Montana with a $1000 detectable.

I know coverage varies drastically by state, I'm in Michigan.