Insurance - Page 2 - Fiberglass RV

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Old 08-01-2012, 01:07 PM   #15
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Name: Carol
Trailer: 22' Airstream Formerly 16' Scamp
British Columbia
Posts: 11,711
Originally Posted by john warren View Post
ok talked with my agent before we got ours and was told our auto insurance covers while towing and home owners cover at home. for replacement costs on both.
To bad that is not the case in all states/provinces.

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Old 08-01-2012, 01:19 PM   #16
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Name: Michael
Trailer: Li'l Hauley
Posts: 4,523
Good Sam's rv insurance is provided by GMAC. I recently took out a policy on my travel trailer for replacement value, but that replacement value thing goes away once the trailer is 4 (or 5? I forget already) years old.

I also asked if they could insure my cargo trailer that I use daily for work, and the rep said no problem. But when the policy came, the language excluded business use. I called them and they then offered to cover it with a commercial policy, but they would have to insure the tow vehicle as well... net increase in premium of $500/year. Since the cargo trailer is only worth $2000 or maybe $2500, I declined and am going without coverage on that trailer. Since the premiums saved will pay for the trailer in 4-5 years anyway, I'll take my chances.

To every thing there is a season, and a time to every purpose under the heaven... --Ecclesiastes 3
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Old 08-01-2012, 07:01 PM   #17
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Name: Larry and Mitzi
Trailer: 1972 ECO
Posts: 18
We just insured the '73 ECO (like a boler) for comp. and collision. We are in Texas and liability is covered by the liability insurance of the vehicle towing the trailer. There is no coverage while it is just sitting at the house unless you have comp and collision. There is no coverage based on our homeowners insurance. We used a "declared" value of $7,500. Also did like Carol H and have acumulated info on similiar year models that have been listed that have been renovated with new axle, tires, updates, etc. That is what Progressive USAA said to do, we may also get an appraisal to keep on file. The cost on the comp and collision for one year was $238 with $1,000 deductible and $1,000 in contents, vacation liability and roadside service. It is a disappearing deductible, disappears 25% for every year of no claims.
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Old 08-01-2012, 07:17 PM   #18
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Name: Dave (AKA John)
Trailer: Scamp
Posts: 623
For those that are under the belief that their homeowners policy will cover their trailer, I urge you to pull out your policy and look specifically at the "limitations" section. "Most" homeowners policies have a $1,000 limit on any trailer coverage, and only for specific causes of damage.
In most states, your auto policy covers liability for damage caused by your towed trailer, but not damage or loss to your trailer.
These are generalizations, there are several different types of policies available in every state, and every state has different rules governing their policies. (I recall TX and NC as having the most interesting policies)
When I was a claims agent for a top rated company that covered all states and most foreign countries, we had to get the details of the loss or damage, and then had to pull up the specific policy to confirm the coverages, limitations, and exclusions. All this is available and spelled out in your individual policies.
I have a separate "agreed value" policy for my current trailer, although when I had my basic popup I considered the $1,000 coverage under the homeowners policy to be good enough (and I had to use that $1,000 coverage after a hailstorm).

Dave (AKA John) and Marilyn
Sharpsburg, GA
04 Dodge Dakota Quad cab 4.7 (primary TV)
08 Subaru Outback 2.5 (alternate TV)
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