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Old 02-20-2019, 12:56 PM   #1
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RV Insurance

I'm trying to line up insurance on the Beacon. My insurance company offers deductibles ranging from $1000, $1500, $2000, and $2500. I can imagine that most insurance claims on an RV are going to be for very high amounts....i.e. not many claims for $450.

I look at this insurance as catastrophic insurance, so I'm inclined to go with high deductible and save $200+/year on premiums.

Any thoughts that I should consider?
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Old 02-20-2019, 01:44 PM   #2
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I have mine with Geico and I think my deductible is 250 or 500 and it's not expensive insurance.
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Old 02-20-2019, 01:53 PM   #3
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I have mine with Progressive. $250 for deductible and a little over $400 for the year.
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Old 02-20-2019, 02:17 PM   #4
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I have mine with Farm Bureau $360.00 a year with $100.00 deductible.
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Old 02-20-2019, 02:49 PM   #5
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Make sure your getting "FullTimer" insurance. It typically has more content coverage, trip interruption coverage(hotels), will cover a storage unit, etc.

I think we paid about $78/m with a $1k deductible in expensive to insure CO, never used it.

Downgraded now.
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Old 02-20-2019, 04:32 PM   #6
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Originally Posted by charliez View Post
I have mine with Geico and I think my deductible is 250 or 500 and it's not expensive insurance.
That depends on the value of your RV doesn't it.
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Old 02-20-2019, 04:33 PM   #7
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Originally Posted by JaRed1986 View Post
I have mine with Progressive. $250 for deductible and a little over $400 for the year.
Again, depends on the value of the RV
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Old 02-20-2019, 04:37 PM   #8
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Ok, we're talking about a $110K valued RV. Maybe this was a bad question for me to ask. What I was hoping to get at was the typical cost for RV insurance claims for a large high end RV.
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Old 02-21-2019, 11:19 AM   #9
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Originally Posted by RoadEyePie View Post
Ok, we're talking about a $110K valued RV. Maybe this was a bad question for me to ask. What I was hoping to get at was the typical cost for RV insurance claims for a large high end RV.

Ask your insurance co. that question. They should have all kinds of statistics on that data, it's their job to know that info.
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Old 02-21-2019, 07:12 PM   #10
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id do stated value insurance. cheaper and covers your investment
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Old 02-21-2019, 07:21 PM   #11
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One important thing to me is full replacement coverage vs. book value at the time of loss. It does cost extra but keep in mind these things depreciate pretty rapidly and if it gets totaled in a few years you're probably out at least half. It is a way to at least provide some protection for you investment. The first five years on our policy was full replacement with a new similar model. After that it reduces to the agreed value, which is basically what I paid for it. I think that lasts for 10 years.

Not all companies offer this. I could save a bunch of money just adding it to our home owners/auto policy but they don't offer anything but book value for a loss. We have Progressive on both the Excel and our bass boat with the full replacement/agreed value add ons. I also have the diminishing deductible which of course costs a little extra. I started with a $2500 deductible which diminished by 25% each year I didn't have a claim. Been at zero quite some time as we never had a claim.

Just something to think about.
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Old 02-21-2019, 09:04 PM   #12
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One important thing to me is full replacement coverage vs. book value at the time of loss. It does cost extra but keep in mind these things depreciate pretty rapidly and if it gets totaled in a few years you're probably out at least half. It is a way to at least provide some protection for you investment. The first five years on our policy was full replacement with a new similar model. After that it reduces to the agreed value, which is basically what I paid for it. I think that lasts for 10 years.

Not all companies offer this. I could save a bunch of money just adding it to our home owners/auto policy but they don't offer anything but book value for a loss. We have Progressive on both the Excel and our bass boat with the full replacement/agreed value add ons. I also have the diminishing deductible which of course costs a little extra. I started with a $2500 deductible which diminished by 25% each year I didn't have a claim. Been at zero quite some time as we never had a claim.

Just something to think about.
Yes the company I currently have my home and auto with does not offer replacement value. They treat it like an automobile, which is current market value. So I'd have to search around for a different insurance company for the RV to get replacement. I'm not familiar with the "agreed value" policy. What's that?
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Old 02-21-2019, 09:15 PM   #13
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Agreed value may be the wrong term but basically it is the amount you value the rv which for us was purchase price. It is the amount you and the insurance company agree to that would be paid once the full replacement ran its 5 years. I would have to dig out my policy but I think it lasts for another 10 years as long as you don't let the policy lapse. For us that amount was 76K something. If we have a total loss that is what we will get instead of it's current value of not so much. I think we had to provide a copy of our buyer's agreement as evidence of the value. It's been 7 years now so a little hard to remember exactly.

I do know that I could probably beat the price I'm paying now but like all insurance it's a waste of money till you need it.

On edit: I did pull up my policy and it says I have the full replacement/purchase price option. So the residual value after the full replacement expires is the purchase price. I have the same thing on my boat policy.
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