Self Insuring your RV Trailer ?

[sandy43]

Has anyone self insured their RV. Towing the RV is covered for collision and liability, that's a no-brainer. I'm thinking, why not put the premium money in an account, build it up over time and use it when needed. I've paid large premiums over many years and never used it, which to me was a total waste of money. I know the pros and cons to doing this. I want to know if anyone else has done this or considered it. Thanks

[packnrat]

ca will not issue year tags till you have paid for insurance through a state registered company.
let it stop, and your tags are suspended.

[colliehauler]

A old expression comes to mind, ( Penny wise pound foolish ) when it comes to not having at least liability insurance in our litigious Society.

[aftermath]

It is all about risk aversion and how much you can stand.

You need to answer a few questions. How much is your trailer worth, how much money do you have/make and how much does having access to your trailer really mean for you? I really don't believe that many of us would choose not to have any insurance. It is more realistic to try to save as much money as you can and there have been some good suggestions in all of these posts.

Give it some thought and choose your direction. Be ready to step up if there is a problem and please don't complain when you have to.

[dockmasterdave]

I found out, after our first TT was hit and totaled, my truck insurance does NOT cover a towed vehicle. They want to sell you another policy so, many no longer cover them. It would be smart to at least check with your agent. Luckily, in my case the other driver was at fault, so his insurance paid. I now have a separate policy on that and even had to get additional policies for my business trailers and additional policy for the contents in them.

[drsteve]

RV insurance is too cheap to not have it, IMHO.

[time2roll]

At least half the cost of insurance is to have a knowledgeable professional deal with the bureaucratic BS and random lawsuit of unknown cause or source.

Even the repairs can be tricky to navigate as it can be difficult to know the proper cost to repair or even what needs to be done.

Until you navigate this matrix it can be difficult to even know where to start. What lawyer do you call? Where do you set up arbitration when the other guy's insurance denies your claim?

[ktmrfs]

troubledwaters wrote:

sandy43 wrote:
Has anyone self insured their RV. Towing the RV is covered for collision and liability, that's a no-brainer...

I'd be willing to bet if you read your policy you will find your RV is not covered for collision while being towed. Liability only. Liability coverage is for damage you do to someone else or their property; not damage to you or your property. Meaning you get in an accident and roll the thing, you're out of luck; that is what comprehensive and collision is for.

with my insurance company, the TV collision, comp, liablity etc. extends to the trailer while hooked up. Once unhooked, the trailer rider policy determines what coverage I have.

[camperdave]

ktmrfs wrote:
once the trailer is unhooked, at least my car insurance no longer cover the trailer for anything. So.... at least get liability. In our case a 1K deductible policy and 100K liability is only $88/year. I have an umbrella policy that has a $2M liability that covers the difference.

Same here when we had the trailer. Full coverage on a 10+ year old trailer made no sense, but liability is a must. So we were paying for liability only insurance for the trailer (in addition to the umbrella) but self insuring it against comprehensive/collision issues.

[troubledwaters]

sandy43 wrote:
Has anyone self insured their RV. Towing the RV is covered for collision and liability, that's a no-brainer...

I'd be willing to bet if you read your policy you will find your RV is not covered for collision while being towed. Liability only. Liability coverage is for damage you do to someone else or their property; not damage to you or your property. Meaning you get in an accident and roll the thing, you're out of luck; that is what comprehensive and collision is for.

[colliehauler]

beemerphile1 wrote:
If a visitor leaving your RV trips and hits their head as they fall down your steps, can you cover a $10,000 medical bill for them?

Trying to save a couple dollars is false economy.

Where my seasonal is located the RV park requires you to have liability. I keep full coverage in case of fire or a tree falls on it.

[valhalla360]

Also, what is the value of the RV?

A $1000 hunter special, sure just make sure you have liability coverage.
A $50k new unit...that's more than I really want to risk if there is hidden faulty wiring or a tornado flips it or etc....

[beemerphile1]

If a visitor leaving your RV trips and hits their head as they fall down your steps, can you cover a $10,000 medical bill for them?

Trying to save a couple dollars is false economy.

[Mmwtdh]

Good point, I agree with the umbrella policy.

I have a $1M policy that doesn't cost that much and is a good CYA investment....

[ktmrfs]

once the trailer is unhooked, at least my car insurance no longer cover the trailer for anything. So.... at least get liability. In our case a 1K deductible policy and 100K liability is only $88/year. I have an umbrella policy that has a $2M liability that covers the difference.