Insurance Question

[The Dude]

Good people,

My insurance agent had asked me how much "personal effects coverage" I needed- did you get this coverage? how much $$ do you need?

We're a family of 5, but the kiddos are small so don expensive electronics for them.

Any advice would be highly appreciated!
Thanks!

[ussnewco]

Dude, I'd recommend at least 10K, But IMHO you should check the price for the most coverage available and work your way down to what you feel comfortable with, my experience is that there is very little difference in cost between minimum coverage and max coverage, the same holds true for the med coverage, make sure you get enough to cover any deductibles from your health insurance.

[oatmeal]

If you're not a fulltimer, would your homeowners insurance cover things that are in your RV while on a trip?

And you mentioned expensive electronics--I have fulltimer insurance and found out that under my "personal effects" coverage, nothing over $500 was covered. For anything over $500, I have to have separate, itemized coverage with a separate premium.

And it's not that the insurance would only pay up to $500 for the item if it was worth more than that; the item simply wasn't covered at all except via the separate coverage.

[ussnewco]

Originally Posted by oatmeal

If you're not a fulltimer, would your homeowners insurance cover things that are in your RV while on a trip?

And you mentioned expensive electronics--I have fulltimer insurance and found out that under my "personal effects" coverage, nothing over $500 was covered. For anything over $500, I have to have separate, itemized coverage with a separate premium.

And it's not that the insurance would only pay up to $500 for the item if it was worth more than that; the item simply wasn't covered at all except via the separate coverage.

Indeed you homeowners would but you consider your deductible and the consequences of using you homeowners, higher premiums at renewal just to start.
As for the limits, you get what you pay for, I just purchased a policy for my newly acquired coach from Progressive in which I selected 10K in personal effects after checking prices for multiple levels up to 25K(got a little pricey there so I stopped) but 10k was a good value for me. I'll re-evaluate at renewal, I doubt I need that much but it was affordable. I chose Progressive with a slightly higher rate but it has pet coverage and trailer coverage which is important to me.

[The Dude]

Originally Posted by ussnewco

Indeed you homeowners would but you consider your deductible and the consequences of using you homeowners, higher premiums at renewal just to start.
As for the limits, you get what you pay for, I just purchased a policy for my newly acquired coach from Progressive in which I selected 10K in personal effects after checking prices for multiple levels up to 25K(got a little pricey there so I stopped) but 10k was a good value for me. I'll re-evaluate at renewal, I doubt I need that much but it was affordable. I chose Progressive with a slightly higher rate but it has pet coverage and trailer coverage which is important to me.

Thanks! this is very helpful.
Yes, the agent did mention the deductible and not hitting HO insurance- which makes sense to me. I'm just trying to think about value of the stuff inside. I guess with camping equipment and other "stuff" add up quickly...

I appreciate the help!

[Gary RVRoamer]

One of the little RV insurance secrets is that the insurer considers most anything attached or connected to the RV to be "personal property". Sometimes even if factory equipment. Your tow bar, for example, or a front end "bra", and maybe even awnings and antennas. I heard one report that said an [unnamed] insurer included the RV tvs as "personal property"! Policies vary, but Personal Effects coverage is usually cheap so it's wise to err on the high side.

We knew our homeowner coverage would handle things like clothing and phones, so we opted for $5000 in PE. I probably would have done $10k otherwise - the stuff adds up fast!