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Old 09-19-2011, 09:54 AM   #1
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Insurance premium-your thoughts

Hey you all, I wanted to compare what we are paying to what you all are paying. We have 100,000-300,000 body injury, 50,000 property damage, 5000 personal injury, uninsured, { vacation liability??} There is a 500 deductable for collisoin and "other than collision"??. RV is insured for 200,000. We do not have the RV coverage with our other cars and homes as that company doesn't insurance them. We have no claims or traffic violations. Only use the RV in the summer. We are in the process of renewing the policy and they have bumped the cost up to 1200 a year.
Is this what you all are close to paying? The company is Triumphe. Any suggestions for less cost coverage?
Thanks in advance for any suggestions.
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Old 09-19-2011, 10:35 AM   #2
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You can drive the cost down considerable by adjusting your coverage when the vehicle is stored. Higher deductables, less coverage for collision just keep comprehensive in case of fire theft etc; and other coverages for storage type potential and drop or ammend collision related coverage. Be sure to replace them if you drive the unit.

The $1200 per year at least in this market where I am is not out of line but shop around and make sure you compare apples to apples when you do.

Our was about that but we cut it almost in half by reducing coverage in storage.
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Old 09-19-2011, 10:42 AM   #3
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I would suggest that your 100/300 is too low in this "sue at the drop of a hat" society coupled with the cost of new cars. I would also suggest that if you have a $200,000 motorhome you should be able to handle a higher collision deductible.

May not be relevant but I have my 11 year old Hurricane insured for $20k, $500k single limit liability, $2,500 collision ded. and the annual is premium $414. I only use my mh once or twice a month for weekends.
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Old 09-19-2011, 10:46 AM   #4
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We have full coverage through GEICO and pay about $100.00/month. 2008 Fleetwood Providence. MSRP on it was $272k. Squeeky clean record and have been with GEICO for 25-30 years.

You'd think GEICO would give a free month after that long.
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Old 09-19-2011, 10:54 AM   #5
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I have 500,000 for about 1200.00 a year. If you only use the MH for 6 months a year like I usually do, some insurance companies will let you "suspend" your liability and collision coverage while maintaining you comprehensive (theft, fire etc.) coverage. The years that I have done that, I pay around $660/yr. Might be something to look into...
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Old 09-19-2011, 01:08 PM   #6
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My coverage is roughly similar to yours but no vacation liability (my homeowners covers that) and a lower value ($140k), and I'm paying $880/year. That is for Florida based insurance thru National interstate. When I was carrying a $210k valuation, it was a little over $1000/year.

It is all but impossible to intelligently compare rates in different markets for different owners. If you have the capability to move to a different market ("garage" the RV in a different county or state, for example), then maybe you can have an effect on yours.
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Old 09-19-2011, 01:50 PM   #7
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I always get a chuckle out of insurance questions.

There are too many variables to compare with other people. If you and I lived next door to each other, had the same RV, were the same age, etc. etc. our premiums would be different for the exact same coverage from the same insurance company. If you want an idea of coverages, go on line and request an insurance quote. You will be inundated with responses, and the amounts will vary significantly.
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Old 09-19-2011, 05:57 PM   #8
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Quote:
Originally Posted by wildtoad View Post
I would suggest that your 100/300 is too low in this "sue at the drop of a hat" society coupled with the cost of new cars.
To many people try to insure their MH like they do their cars...Not a good idea IMHO. Remember this hitting someone with your motor home isn't like hitting someone with your Toyota. That MH is going to do some damage, and more than likely going to hurt someone badly.... Their lawyer (or their survivor's lawyer) is going to go for a big payday, and if you have low limits YOU will be paying the difference between what your insurance is on the hook for and what the judge awards. God forbid, but if you should hurt a small child you can bet that you'll be looking at close to a million dollars...or more!
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Old 09-19-2011, 06:33 PM   #9
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I also have a flat $500,000 so no matter what happens my fault or theirs, which I would beat they don't have enough I'm covered around $1,200.
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Old 09-19-2011, 06:38 PM   #10
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Have you considered raising your deductible? I decided that I could afford $2000 if something happened, and the premiums dropped dramatically.
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Old 09-19-2011, 10:12 PM   #11
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In order to really compare your rates with others we need to also know your address, where the rig is stored, how many years of driving experience you have, your driving record, your credit score, and a bunch of other seemingly innocuous information - insurance companies use all that to set rates.
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Old 09-19-2011, 10:34 PM   #12
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GMAC $250,000 $500,000 and $100,000 in coverage, replacement cost for first 5 yrs, $1,000.00 deductible.

Premium for 3 drivers (added a friend who sometimes drives) 2 tickets among 3 drivers took the annual premium to $1046

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Old 09-19-2011, 10:59 PM   #13
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Quote:
Originally Posted by RVRon View Post
I have 500,000 for about 1200.00 a year. If you only use the MH for 6 months a year like I usually do, some insurance companies will let you "suspend" your liability and collision coverage while maintaining you comprehensive (theft, fire etc.) coverage. The years that I have done that, I pay around $660/yr. Might be something to look into...
We just transfered our coverage from Farmers to Allstate for the same reason. Based on last years storage time I expect to drop our annual cost to around $800.
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Old 09-20-2011, 09:37 AM   #14
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Thanks for all the replys. I will look into not covering during storage times.
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