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

[Charlie_D_]

Not all vehicle towing coverage automatically covers an RV. One is usually asked if they wanted towing and that question sometimes do not cover RV towing.

[twodownzero]

Mmwtdh wrote:
Buy liability, set your other coverage's deductible high and bank the difference.

Guard against disaster, not inconvenience..

That's what I do. $1000 deductible to keep me from being stupid. The rest of the insurance so I can replace it if it burns or disappears.

[Mmwtdh]

Buy liability, set your other coverage's deductible high and bank the difference.

Guard against disaster, not inconvenience..

[Bionic_Man]

STBRetired wrote:
Better carry at least liability insurance or have really deep pockets. If you have a seven figure bank account that you can wave goodbye to if you are found at fault in an accident, then self insurance is a possibility. If not, you could lose everything if found at fault.

Liability coverage is under the tow vehicle policy. The only reason to have a policy on a trailer is because you want physical damage coverage.

To the OP, if you have an older rig, it might make sense to “self insure”. Truth is you will have to save a lot of premium dollars (like a lifetime) to pay for anything newer than 10 years old.

To me, it makes sense to pay for full coverage. The only thing I don’t have coverage on is the old boat I bought for my father.

[STBRetired]

Better carry at least liability insurance or have really deep pockets. If you have a seven figure bank account that you can wave goodbye to if you are found at fault in an accident, then self insurance is a possibility. If not, you could lose everything if found at fault.

[romore]

We purchase liability insurance with the plate but that would certainly work for the collision coverage. The only problem is you best hope you get a sizeable fund before you need it.

[rk911]

we do precisely that for general maintenance and repairs which is why we don't have one of those "extended warranty" policies. but we still carry full liability, comprehensive and collision insurance. the purpose of insurance is to defer risk. if you want to self insure i guess it would depend on the size, age and condition of your RV and bank account.