Insurance Costs

[Kostyan]

Good morning RV Net folks

Will be moving my travel trailer to a private storage and wondering about insurance to protect from vandalism or theft.

Can anyone recommend cheapest reasonable insurance? My home/car insurance carrier quoted me around 250/yr.

[Kostyan]

For a rig that only has 4-5k book value, $250 is reasonable. There is very little risk involved, If any. I got a $120 quote From a Foremost Ins Co and may go with that.

[Aridon]

Home insurance will only cover premise liability and not physical damage to the unit. You'll also have off site contents but no coverage for the RV itself from home insurance.

[JimK-NY]

$250/year sounds dirt cheap. I do wonder what you do for insurance when you use the RV. My regular policy is always in effect and cannot readily be started and stopped just for travel trips.

[Toolguy5]

donn0128 wrote:
You dont carry a policy on your trailer? My RVs have always had their own policies.

Same here.

[ktmrfs]

Need a discussion with your insurance agent. With my insurance, liability for the trailer is covered when it is connected to the vehicle and being towed.

Coverage for liability, theft damage, etc. etc. is a seperate policy even if it is in my driveway or RV lot. As long as any of my vehicles are titled they are not covered under homeowners.

I pay $90/year for a full coverage policy with $2000 deductible. Lower deductible= higher cost.

[monkey44]

drsteve wrote:

Kostyan wrote:

donn0128 wrote:
You dont carry a policy on your trailer? My RVs have always had their own policies.

Not right now. It is 11 years old, it is paid for, and has been protected by homeowner's policy while had it stored in front of the house. Now that I need to find new storage then it will no longer be protected I suppose.

Your homeowner's policy may still cover it even when in a storage yard. Call your insurance agent.

Pretty sure this is correct - if you store it somewhere away from home, and you own the building, you need insurance in that building.

If you store it, and don't own the storage area, then HO insurance covers it ... best to ask your agent... different policies and different state might make it a yes or a no tho 🙂 As usual 🙂

[Ski_Pro_3]

From what my insurance agent told me, "if it requires registration with the DMV, it is not covered under Homeowner's and requires it's own policy." Are RV trailers plated by the DMV in your state? You need to ask your agent point blank if so and have him show you specifically the language in your policy that backs it up.

One reason (not the top or only reason) I bought a truck camper is that campers are not registered in my state and it is covered either under homeowner policy when off the truck, and automobile policy when on the truck.

Even if it is covered, you should probably increase the total payout value of your policy to include the cost of the trailer in case of a total loss.

[drsteve]

Kostyan wrote:

donn0128 wrote:
You dont carry a policy on your trailer? My RVs have always had their own policies.

Not right now. It is 11 years old, it is paid for, and has been protected by homeowner's policy while had it stored in front of the house. Now that I need to find new storage then it will no longer be protected I suppose.

Your homeowner's policy may still cover it even when in a storage yard. Call your insurance agent.

[Cummins12V98]

Our DRV is added to our Farmers truck policy. Chose 100K coverage and pay about $200 ea 6mo. They checked with Foremost and it was more $.

[Kostyan]

donn0128 wrote:
You dont carry a policy on your trailer? My RVs have always had their own policies.

Not right now. It is 11 years old, it is paid for, and has been protected by homeowner's policy while had it stored in front of the house. Now that I need to find new storage then it will no longer be protected I suppose.

[troubledwaters]

My Progressive policy is about $300.00 per year. But, the cost of insurance is going to be directly related to the value of the RV, the types of coverages you want, the deductible you choose, and your credit rating. So I don't know how you can compare anything on here with your own situation. Best to just get names of companies and shop around.

[donn0128]

You dont carry a policy on your trailer? My RVs have always had their own policies.