Insurance question
Am buying my 1st RV,a new 26 ft TT, and started calling for insurance quotes today - what a headache! I called Good Sam, State Farm (my long time company for car and home), GEICO (who won't insure ...
Forum Discussion
beemerphile1 wrote:
Progressive will give a quote online in only moments.
To those talking about their auto insurance extending to the trailer. ONLY the LIABILITY extends to the trailer and only WHILE TOWING. You need coverage on the trailer itself or in reality you are self insuring.
So, my 30 yr old TT is only worth $700, if I followed YOUR "advice" over the last ten years I have owned said trailer I would have paid $1500 on said trailer!
Guess how much the insurance company would have paid if my trailer was stolen lost or burnt..
LESS than the $700 it WAS WORTH.
In reality there IS no "set in stone" NEED to insure EVERYTHING you own, in fact over insuring COSTS you much more than what the item is worth OR will ever hope to get back out of it.
Mine IS covered when towing by my vehicle insurance AND it is covered by my home owners insurance when parked at my home.
THE ONLY TIME IT IS NOT COVERED IS WHEN IT IS IN A CAMPGROUND AND NOT CONNECTED TO MY VEHICLE WHEN CAMPING.
For the $700 that it is worth I am fine with that risk.
If you can't stand a little "risk" there is a pretty good chance you should not be owning ANYTHING.. Every policy HAS A DEDUCTIBLE ($250, $500, $1000 or more).
Even having insurance YOU ARE ASSUMING SOME RISK..
Even my vehicles, as they age, I DROP "comprehensive" and only carry the mandated liability coverage.. You see, there is a point in time that YOU are PAYING the insurance co MORE than what the insurance company will pay out.
Just good fiscal sensibility to EVALUATE your REAL insurance coverage "needs" instead of blindly over paying for unneeded insurance.
