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Old 12-07-2012, 06:25 AM   #1
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Motorhome vs Fifth Wheel Insurance Cost?

Is it a safe assumption that the Cost for a $100,000 motorhome vs a $50,000 fifth wheel would be twice as much? Or is there a factor (motor, transmission, etc.) in there that would make the rates for the motorhome cost more?
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Old 12-07-2012, 06:31 AM   #2
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I don't think so. A quick call to your insurance agent, should answer your questions. We were paying $400/year for a $30,000 fifth wheel and we're paying $3,500/year for the new motorhome.
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Old 12-07-2012, 06:34 AM   #3
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dont forget on a 5er you are also paying to insure your TV
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Old 12-07-2012, 07:21 AM   #4
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Quote:
Originally Posted by Tamatha View Post
I don't think so. A quick call to your insurance agent, should answer your questions. We were paying $400/year for a $30,000 fifth wheel and we're paying $3,500/year for the new motorhome.
I don't know what then cost of the motorhome is that you are insuring, but I am paying $1,400 per year for a 2013 newmar dutch star, msrp of $380,000.00.

I am in the Dallas Texas area and using State Farm, with a deductible of $1000.00 and liability of $1M.

This is almost half of what geico wanted and less than all other quotes. I seems in his area a least that State Farm is very good on motorhomes.

My 5th wheel was $45k msrp and cost $400 a year.
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Old 12-07-2012, 02:48 PM   #5
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Thanks! It sounds like I need to do some shopping. Unfortunately, our insurance agent only had one company to choose from Foremost and my husband had 2 speeding tickets in 2011 and totaled a truck (bad weather) and I won't drive it, so we have a $1,000 sur-charge on our policy right now. I don't know if age makes a difference?
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Old 12-07-2012, 03:10 PM   #6
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Many variables to the question, I have a $100.00 deductable on a one peice windshield that is over 4ft high and 8+ft wide and so on. I don't think details like these are needed on a 5er.
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Old 12-07-2012, 09:19 PM   #7
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Well there are several factors why it would be less on a trailer. Value certainly is a factor. Liability also - the motorhome is essentially a big car, so you have the liability of crashing into someone. When you are pulling your trailer, the tow vehicle insurance is covering it while under way - so the liability is on that vehicle.

Essentially trailer insurance is covering fire and theft risk while it's sitting somewhere. Damage from a crash is covered by the tow vehicle's insurance.
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Old 12-08-2012, 09:32 AM   #8
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One major difference is that the motorhome has to have vehicle liability insurance, whereas any trailer does not. Liability is typically around 50% of the total insurance cost, so a motorhome often costs 2x a trailer of the same value. Only the collision and comprehensive coverage are driven by the value of the vehicle, and it is not necessarily linear. Since the chances of a total loss are lower than the chance of partial damage, doubling the value typically does not double the cost of collision & comp coverage.
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Old 12-08-2012, 12:46 PM   #9
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Most motorhome Insurance cost is not based all on value.

When I first got mine the value was 90K, today around 30K.
Have the same Insurance co. and no change in coverage.
Now I am paying more per year. :( It never has went down with desperation value.
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Old 12-08-2012, 04:33 PM   #10
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on our just bought '97 london aire we valued at 49 thous with progressive insurance...and also have the discounts with home and two autos and trailer ...the cost is 34.90 per month and 500 deductible with all the comps ect..it does really matter what state and city to get best rates.somtimes age makes difference and somtimes the value of replacment cost.jeff
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Old 12-09-2012, 09:46 AM   #11
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Quote:
When I first got mine the value was 90K, today around 30K.
Have the same Insurance co. and no change in coverage.
Now I am paying more per year. :( It never has went down with desperation value.
Triker56,
Most insurers won't change the rating basis (value amount) unless you instruct them to. Even though they are only going to pay Actual Cash Value that is now probably much less than the original valuation. Contact your agent and tell them you want to update the value to the current NADA or Kelly book value and your collision rate will probably drop.
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Old 12-09-2012, 11:30 AM   #12
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Quote:
Originally Posted by wincrasher View Post
Well there are several factors why it would be less on a trailer. Value certainly is a factor. Liability also - the motorhome is essentially a big car, so you have the liability of crashing into someone. When you are pulling your trailer, the tow vehicle insurance is covering it while under way - so the liability is on that vehicle.

Essentially trailer insurance is covering fire and theft risk while it's sitting somewhere. Damage from a crash is covered by the tow vehicle's insurance.
The tow vehicle's liability coverage will extend to the trailer but not collision coverage, so trailer damage in a crash (where there is no other party at fault) would not be covered by your auto insurance. If you want collision coverage for the trailer it would need to be purchased separately.
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Old 12-10-2012, 06:19 AM   #13
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Quote:
Originally Posted by Gary RVRoamer View Post
Triker56,
Most insurers won't change the rating basis (value amount) unless you instruct them to. Even though they are only going to pay Actual Cash Value that is now probably much less than the original valuation. Contact your agent and tell them you want to update the value to the current NADA or Kelly book value and your collision rate will probably drop.
It wasn't Collision that went up the most.
Maybe it is all those Norcold Refrigerator fires.

Here are the increases on my Insurance since 2004.
I have had only one claim, a passenger side windshield and no tickets.
I did get older, but nothing I can do to change that.

Bodily Injury/Liability
44%
Property Damage
36%
PIP
15%
Comprehensive
122%
Collision
13%
Full Time
-10%
Personal Effects
-14%

Since 2008 to 2012 Comprehensive on my toad is a -5% MH +6%
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