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02-20-2019, 12:56 PM
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#1
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Senior Member
Tiffin Owners Club
Join Date: Mar 2018
Location: Hot Springs, VA
Posts: 1,926
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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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RoadEyePie - 2019 VLRV Beacon 39 GBB
2018 GMC 3500 HD Sierra Denali Durmax Diesel DRW CC LB 4x4
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02-20-2019, 01:44 PM
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#2
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Senior Member
Join Date: May 2005
Location: Carlos, Texas
Posts: 1,746
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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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02-20-2019, 01:53 PM
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#3
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Junior Member
Join Date: Jun 2018
Posts: 23
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I have mine with Progressive. $250 for deductible and a little over $400 for the year.
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02-20-2019, 02:17 PM
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#4
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Senior Member
Join Date: Jun 2017
Location: Eads, TN
Posts: 187
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I have mine with Farm Bureau $360.00 a year with $100.00 deductible.
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02-20-2019, 02:49 PM
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#5
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Senior Member
Join Date: Sep 2016
Location: SLC, UT
Posts: 1,172
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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.
__________________
2017 F-350 6.7 Diesel, CCSB SRW - 2005 F350 6.0
2018 Alpine 3660FL - 2005 Alfa SYF30RLIK
--Full time 2016 to 2019-- Seasonal now
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02-20-2019, 04:32 PM
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#6
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Senior Member
Tiffin Owners Club
Join Date: Mar 2018
Location: Hot Springs, VA
Posts: 1,926
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Quote:
Originally Posted by charliez
I have mine with Geico and I think my deductible is 250 or 500 and it's not expensive insurance.
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That depends on the value of your RV doesn't it.
__________________
RoadEyePie - 2019 VLRV Beacon 39 GBB
2018 GMC 3500 HD Sierra Denali Durmax Diesel DRW CC LB 4x4
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02-20-2019, 04:33 PM
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#7
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Senior Member
Tiffin Owners Club
Join Date: Mar 2018
Location: Hot Springs, VA
Posts: 1,926
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Quote:
Originally Posted by JaRed1986
I have mine with Progressive. $250 for deductible and a little over $400 for the year.
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Again, depends on the value of the RV
__________________
RoadEyePie - 2019 VLRV Beacon 39 GBB
2018 GMC 3500 HD Sierra Denali Durmax Diesel DRW CC LB 4x4
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02-20-2019, 04:37 PM
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#8
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Senior Member
Tiffin Owners Club
Join Date: Mar 2018
Location: Hot Springs, VA
Posts: 1,926
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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.
__________________
RoadEyePie - 2019 VLRV Beacon 39 GBB
2018 GMC 3500 HD Sierra Denali Durmax Diesel DRW CC LB 4x4
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02-21-2019, 11:19 AM
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#9
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Registered User
Join Date: Oct 2017
Posts: 4,985
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Quote:
Originally Posted by RoadEyePie
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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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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02-21-2019, 07:12 PM
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#10
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Senior Member
Join Date: Nov 2014
Posts: 1,345
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id do stated value insurance. cheaper and covers your investment
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08 GMC C-4500 w/Custom bed. 8.1L
45ft 2007 Teton Reliance Experience XT-4
TSLB Trailer Saver w/ 3rd airbag
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02-21-2019, 07:21 PM
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#11
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Senior Member
Join Date: Dec 2006
Location: Oklahoma
Posts: 2,066
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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.
__________________
Jim,
2020 Ford F350 Platinum, 4X4, CCLB, SRW, diesel, 12,400 GVWR
2020 Jayco Pinnacle 32RLTS, Reese Goose Box
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02-21-2019, 09:04 PM
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#12
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Senior Member
Tiffin Owners Club
Join Date: Mar 2018
Location: Hot Springs, VA
Posts: 1,926
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Quote:
Originally Posted by JDT
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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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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RoadEyePie - 2019 VLRV Beacon 39 GBB
2018 GMC 3500 HD Sierra Denali Durmax Diesel DRW CC LB 4x4
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02-21-2019, 09:15 PM
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#13
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Senior Member
Join Date: Dec 2006
Location: Oklahoma
Posts: 2,066
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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.
__________________
Jim,
2020 Ford F350 Platinum, 4X4, CCLB, SRW, diesel, 12,400 GVWR
2020 Jayco Pinnacle 32RLTS, Reese Goose Box
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03-26-2019, 08:42 PM
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#14
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Senior Member
Tiffin Owners Club
Join Date: Mar 2018
Location: Hot Springs, VA
Posts: 1,926
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Quote:
Originally Posted by grindstone01
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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I did ask them. I didn't get a $value, but I was told the highest number of claims were for fire and damage from trees, not sure if that was falling on the RV or the RV running into them.
Either way, I've just about narrowed it down to Progressive and Safeco as each offer replacement value. Premiums very close for each of them. Progressive offers Roadside Assistance for $38/year...not sure how good it is. Leaning toward Progressive but have read positive reviews of Safeco as well.
__________________
RoadEyePie - 2019 VLRV Beacon 39 GBB
2018 GMC 3500 HD Sierra Denali Durmax Diesel DRW CC LB 4x4
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