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Old 02-04-2025, 11:03 AM   #1
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Insurance shock!

Here's my situation; I have a 2015 Anthem. Every year the value of my coach goes down and the insurance costs goes up, sometimes sustainably.

We travel to FL every winter for about 3 months.

The RV sits beside my house for 9 months a year (although we take several weekly trips during the year).

I called GEICO and asked about lowering my insurance to just liability during the 9 months when it's parked. Here is the result;

Currently, I pay $1,116.35 / 6 months
If I only have liability, the cost is $31.40 / 6 months

And, I can switch back and forth between full and liability at any time.

This works for me YMMV. I wish I'd have done this 25 years ago.
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Old 02-04-2025, 11:24 AM   #2
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So if something should happen and the RV catches fire you would be OK with no insurance? What is that lability covering? What if you slip or fall getting in or out of it? What if a neighbor or friend gets injured near it. How about a weather event? Think it through.
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Old 02-04-2025, 01:45 PM   #3
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Originally Posted by d23haynes57 View Post
So if something should happen and the RV catches fire you would be OK with no insurance? What is that lability covering? What if you slip or fall getting in or out of it? What if a neighbor or friend gets injured near it. How about a weather event? Think it through.
Dunno. Insurance premiums have gotten ridiculous. I understand the OP's plight. The things you mention rarely happen. Insurance companies gamble on exactly that, it will never happen. By purchasing insurance the consumer bets that it will. Newsflash, the insurance companies are winning that bet.
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Old 02-04-2025, 03:41 PM   #4
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So if something should happen and the RV catches fire you would be OK with no insurance?
With a 10 year old RV, it's probably time to think about dropping Collision coverage anyway. Fire should be covered by Comprehensive if he elects to maintain that.
Quote:
What is that lability covering?
Umm... Liability maybe? If you aren't clear on that, then you shouldn't be replying to insurance questions.
Quote:
What if you slip or fall getting in or out of it?
Same as if you slipped and fell in your house. Your medical coverage responds.
Quote:
What if a neighbor or friend gets injured near it.
That's what that Liability is for. Actually, since it's stationary at his residence, his Homeowner's coverage would likely cover that.
Quote:
How about a weather event?
Comprehensive again.
Quote:
Think it through.
Sounds like that's what he's doing.....
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Old 02-04-2025, 04:43 PM   #5
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Currently, I pay $1,116.35 / 6 months
If I only have liability, the cost is $31.40 / 6 months

$31.40 per month
My mistake
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Old 02-04-2025, 05:06 PM   #6
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With a 10 year old RV, it's probably time to think about dropping Collision coverage anyway. Fire should be covered by Comprehensive if he elects to maintain that.

Umm... Liability maybe? If you aren't clear on that, then you shouldn't be replying to insurance questions.

Same as if you slipped and fell in your house. Your medical coverage responds.

That's what that Liability is for. Actually, since it's stationary at his residence, his Homeowner's coverage would likely cover that.

Comprehensive again.

Sounds like that's what he's doing.....
I questioned the liability due to the very low cost stated. Something missing.
I have a 2008 Nimbus, value still well north of $150K Comp and Collision yep!
A 2015 Anthem is not a throw away coach.
Tree limbs falling, wind and water damage, fire, collision, many long term RVers have done at least one of these events. Sitting in our driveways, if things are powered up and turned on something can and at some point, will go wrong. Is the risk worth it?
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Old 02-04-2025, 05:32 PM   #7
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I really don't see it as a bargain. You are essentially cancelling your insurance and assuming all the risk.
Seems like a lot money sitting there unprotected.
I always thought of Murphy's law as.
"Whatever can go wrong will go wrong"
But my brother redefined it as
"Whatever can happen will happen" ......to someone.....at some point.....
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Old 02-04-2025, 07:08 PM   #8
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I pay $3,200 a year for my 16 Cornerstone

Just received my bill for my Lotus Evora GT, it’s $2,200 a year

Both have gone up over 10% over the last few years.

To me it’s not worth the risk, I will keep full coverage all year. That being said maybe shop around a bit, possibly other companies have better rates. I shopped around due to my broker. My insurance agent/broker told who I have my business and all my other vehicles though stated Matheus couldn’t get coverage they felt comfortable with and sent me to their friend. Their friend who works for a different insurance broker is who my RV/Lotus are through. Not only are the rates better but the coverage is also better….
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Old 02-05-2025, 06:34 AM   #9
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All of us in Florida wish for the rates those in others states are receiving. Live in a coastal zip codes the rates are even higher. With the storms, we can't have liability only and why our rates are so high.
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Old 02-05-2025, 07:16 AM   #10
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When we moved back to Colorado from NC, ours doubled to over $4k per year, on a 2012.
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Old 02-05-2025, 07:20 AM   #11
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BTW...
Last time my rate went up, I called GEICO and asked why the rate went up when my coach is a year older and when will the rate start coming down? The answer I got was that the rate is largely based on repair parts and repair parts costs keep going up. The light at the end of the tunnel is just a candle!

I knew I'd get a lot of push back on this, but it works for me for 9 months of the year.

Lastly, you can only drop down to liability IF your coach is paid off. Otherwise, your finance company won't allow it.
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Old 02-05-2025, 07:27 AM   #12
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You may want to check with FCIS in Iowa. I have Nationwide through them. My "home" is quite a bit older but I have full coverage, including full-timers and extra liability, for close to what you pay for 6 months. I think they specialize in RV insurance and work with several companies.

IMO they have good prices for RVs but I have toad through another company who's price was better.
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Old 02-05-2025, 09:26 AM   #13
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Quote:
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When we moved back to Colorado from NC, ours doubled to over $4k per year, on a 2012.
Hail storm capitol of the country. I had several roofs replaced on properties when I lived there due to hail storms. I won't even go into the vehicle damage.
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Old 02-05-2025, 09:36 AM   #14
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Quote:
Originally Posted by darjacob View Post
Currently, I pay $1,116.35 / 6 months
If I only have liability, the cost is $31.40 / 6 months

$31.40 per month
My mistake
Somehow that still seems low. Is that liability and related coverage keeping it registered and allowed to be driven? Or is that liability for a parked, unused vehicle? For comparison for others if normal liability what are the limits?
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