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Old 04-16-2015, 10:43 AM   #1
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Insurance Limitations??

What limitations are ya'll getting for Bodily Injury Liability, Property Liability and Uninsured Motorist Bodily Injury and Medical Payments? While searching for a new policy these limits range a lot. I have a motorhome if this makes any difference.
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Old 04-16-2015, 11:01 AM   #2
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Those liability limits are up to you. Different companies might have different defaults or minimums, but YOU need to determine what liability limit makes sense for you. And tell the insurance companies what you want so you're comparing similar policies. You need to pick the limits that make sense to protect your assets in case you get sued after an accident or other event.
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Old 04-16-2015, 11:12 AM   #3
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Reuben, get a quote from your insurance company on an Umbrella Policy. We have State Farm, and our umbrella policy covers our two houses, MH, and 3 vehicles. It picks up where the normal policy ends should you get sued beyond those coverages. What happens is they increase the coverage on each independent policy, and then you can get the Umbrella for any amount you choose starting at 1 million. While doing the whole thing our policy on each thing car, house ect. didn't increase any(due to getting additional discounts for adding another policy) to get the higher coverage. When all the dust settled the Umbrella Policy only costs us $285 a year. Pretty cheap in my opinion and it makes me sleep better.
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Old 04-16-2015, 11:19 AM   #4
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We have an umbrella policy too. The terms of the umbrella policy will dictate what your liability minimums need to be for each underlying (home, auto, RV, etc) policy.
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Old 04-16-2015, 12:33 PM   #5
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Quote:
Originally Posted by Mike and Cha View Post
Reuben, get a quote from your insurance company on an Umbrella Policy. We have State Farm, and our umbrella policy covers our two houses, MH, and 3 vehicles. It picks up where the normal policy ends should you get sued beyond those coverages. What happens is they increase the coverage on each independent policy, and then you can get the Umbrella for any amount you choose starting at 1 million. While doing the whole thing our policy on each thing car, house ect. didn't increase any(due to getting additional discounts for adding another policy) to get the higher coverage. When all the dust settled the Umbrella Policy only costs us $285 a year. Pretty cheap in my opinion and it makes me sleep better.
When I first bought my coach I had my State Farm agent figure up a quote. They did not know what they was doing. I do have my car and home with State Farm. The quote I got was the highest of them all. I figured I would be wasting my time this time.

Are you saying all you are paying for your motorhome insurance is $285 a year?
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Old 04-16-2015, 12:35 PM   #6
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When I first bought my coach I had my State Farm agent figure up a quote. They did not know what they was doing. I do have my car and home with State Farm. The quote I got was the highest of them all. I figured I would be wasting my time this time.
If it was me, I'd be looking for a new insurance broker. Probably an independent.
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Old 04-16-2015, 12:36 PM   #7
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If it was me, I'd be looking for a new insurance broker. Probably an independent.
Nope - they are a full time State Farm business.
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Old 04-16-2015, 12:39 PM   #8
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Nope - they are a full time State Farm business.
I understand they're State Farm only. What I meant was that if they can't do RV insurance, why not look for alternatives where you can get it all done with one agent?

Also, on your other question, I think the $285 that Mike mentioned was the cost of the $1M umbrella policy, over and above the individual home/vehicle policies.
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Old 04-16-2015, 12:50 PM   #9
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I am limited due to where I live (hurricane country) to very few insurance companies. Most of the companies that do RV insurance will not insure my home. State Farm has the lowest homeowner policy.
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Old 04-16-2015, 02:45 PM   #10
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What limitations are ya'll getting for Bodily Injury Liability, Property Liability and Uninsured Motorist Bodily Injury and Medical Payments? While searching for a new policy these limits range a lot. I have a motorhome if this makes any difference.
I'm not clear on your exact question. Are you asking what we are setting as limits? If so, then in this day and age where anything you hit will most likely cost a lot to replace, bodily injury claims will be quite high, and lawsuits happen at a drop of a hat, I would start at about 1/2 million a combined single limit , and then get an umbrella policy (which are typically dirt cheap) for $1mill or more.
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Old 04-16-2015, 03:24 PM   #11
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I checked with my State Farm agent and they are still higher than everyone else.
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Old 04-16-2015, 03:36 PM   #12
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If you get into an accident: How much are you worth? What can you realistically be sued for...home, investments, business, estate? If these questions ring a bell it is time to talk with a trusted insurance agent about packages available.
Happy Trails.
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Old 04-16-2015, 04:34 PM   #13
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Not only do you worry about if it's your fault but you can beat that if it's the other persons fault they aren't going to have enough which was my biggest worry. In today's society minimum cost for minimum coverage will not cover half the new cars.
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Old 04-16-2015, 08:17 PM   #14
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I got tired of paying through the nose simply because I lived in Florida. So I moved. Cars are insured through USAA. House insured by Tennessee Farm Bureau. I was paying more per month for property insurance in Florida than my mortgage payment. In Tennessee, about a month and half worth of mortgage payment per YEAR for property insurance, and with all of the policies, I get more than the minimum required.
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