LLC and Insurance

[rpowers]

I have my coach in an LLC and looking to get a new quote on Insurance this year. Was wondering if anyone has had a positive experience with an insurance company that handles insuring Property in an LLC?
What better place to ask but this knowledgeable forum
Thanks in advance.

[Gary.Jones]

Bob

Many insurance companies will not deal with a coach that is owned by an LLC, in the same way that many finance companies will not even remotely consider loaning a nickle to an LLC or Corporate on a coach purchase.. However, there are a few and you need to find yourself working with an insurance company that deals with lots and lots of motorhomes. I have said before and will repeat now, the place to start is with all the insurance people who advertise every month at the back of the FMCA magazine. There are 5 or 6 insurance agents and companies that deal exclusively with motorcoaches and are quite experienced with how to insure them from 15 different perspectives. Their prices vary from reasonable to unreasonable.... you are going to have to put in some hours.

A little company that a lot of people I know have dealt with is Chris and Charles Yust who have a company called C&C Marketing and Insurance. Their phone number is quickly found just by Googling C&C Marketing. Chris underwrites private coaches, LLC coaches, Corporate Coaches, and deals with companies that do not have a heart attack if you mention Corporations or LLCs.

You need to do some leg work here, but it is not hard to find someone who is going to treat you right if you look hard

Gary

[The Taj]

I used National Interstate and obtained insurance through Destination Financial services (877) 553-3400. Ask for Pam.

They insured my coaches Nd my cars with no problem and prices weren't as bad as I've seen on the forum and all vehicles were owned in an LLC

[TonyDi]

I use National Interstate, but I have in the past, had offers from several different insurance companies.

[brobox]

I used Good Sam's when I had my LLC. They understand MT LLC and had no problem. All they cared about was where it was stored and the license driver.

[DegoRed]

There should be no difference on your insurance, insurance is insurance.

Before all you jump in and starting telling stories, about your friends mothers cousin's nephew's uncle, every single thing I drive and insure is in a company name via LLC or LP or LTD, and everything that most all of my good friends is owned similar, and has been this way for years upon years. This goes for MH, car, truck, boat, plane, etc.

All you need is insurance, it does not matter what entity owns the vehicle, its not even relevant. Worst case, you would be leasing the vehicle from the entity(LLC) to yourself, but so far have never had to do such nonsense in 20+ years. Think about it, when you lease a vehicle from GM or Ford, you have to get insurance, vehicle is still owned by GM or Ford, you are simply leasing it from them, its a lease not a purchase, same thing for your other toys.

Every year I have to shop for insurance, and I just did so last week on my MH since Blue Sky quit doing RV's. Not once during any conversations was it a problem or even a discussion about the ownership entity of my MH. FWIW was shocked that Farmers(Foremost) came in the lowest at $1326/year. Also got quotes from Safeco, Germania, State Farm, wont do business with Progressive or Good Sam.

Good luck!

[DegoRed]

Wanted to add some extra info.

When you call up to get insurance you say my name is Bob and I am looking for insurance. Bob/Bob wife is the driver in this scenario.

You don't call up and say this is Bob with XXXXXX Company, LLC and we need corporate insurance. Two different animals here, don't confuse corporate insurance with personal insurance.

Example, if you owned a service company and you had 30 vehicles, you would need corporate insurance to cover what ever employee is driving your company vehicles in the operation of company work. This scenario does not exist in your case, you or your wife would be the only drivers, you need just regular insurance. Your MH is owned by a corporate entity but does not conduct corporate business. The courts and our legal system understand this difference very well. I spend way too much time in court, but can tell you with absolute certainty, this is a very black and white issue for our legal system, you are good.

[Desertboyz]

We have insurance with Nationwide. It's in our names and the Montana LLC is listed as the loss payee.

Additional information: https://www.49dollarmontanaregistere...suring-your-rv

[rpowers]

Thank you all for your responses. I new that I have leg work cut out for me. Just was trying to get a feel for what who other people use. DegoRed I am surprised that Farmers came in cheap. I have my car And house with them and they are the most expensive when I shopped the last year. The hard part is finding an agent that is up front about the LLC verses personal Insurance.

[DegoRed]

I was surprised as well that Farmers came is with the best price, I also have home and auto's with them as well. Last couple times I asked them for quotes they were high. Last 3 years I was with Blue Sky @$1100/year, with them leaving the choices are dwindling. Since I am not old enough for AARP, that was also not an option.

Bob, you are looking for Personal Insurance don't confuse things, your LLC is just your holding company. Try Miller insurance group, saw them listed on some threads here, they were very competitive, and had zero issues with my MH being owned by one of my entities.

Good Luck!

[rag_ftw]

I have used Overland in Scottsdale (800-677-4027) as my agent and they insured me with Nationwide. They are very familiar with LLCs and will find you the best price they can. Nationwide raised my premium 60% this year from last, because they want to get out of the Agreed Value business. Overland will give you a vanishing deductible which will save you some cash in future years.

The GoodSam agent I talked with this spring didn't want to insure my LLC coach. I really think it was because I wanted Agreed Value instead of Actual Cash Value.

Bottom line is call all the companies advertising in FMCA and get a quote from each of them every year. It pays to shop around.