How long to keep insurance?

[Nell]

Hi,

We carry insurance on our 1999 Sprinter. It's about $50 or so a year. We haven't camped now for over 18 months(my Mom had a stroke and we are now unable to go away even for a weekend). It's been sitting in the yard covered(go in and clean things every 6 months from top to bottom). How long should we keep insurance on it? (I know at this point some campgrounds won't let us camp there because it's now over 9 years old either.) Would you keep the insurance on it? I am not sure if the homeowners covers it say if a tree from a neighbor would fall on it. Is it worth still keeping it covered?

Thanks,
Nell

[Nell]

Hi,

We carry insurance on our 1999 Sprinter. It's about $50 or so a year. We haven't camped now for over 18 months(my Mom had a stroke and we are now unable to go away even for a weekend). It's been sitting in the yard covered(go in and clean things every 6 months from top to bottom). How long should we keep insurance on it? (I know at this point some campgrounds won't let us camp there because it's now over 9 years old either.) Would you keep the insurance on it? I am not sure if the homeowners covers it say if a tree from a neighbor would fall on it. Is it worth still keeping it covered?

Thanks,
Nell

[450Donn]

Lets look at this sceranio. You drop the insurance, and somehow it catches fire and burns down. Are you willing to take the total loss? 50 dollars a year is cheep insurance, keep it. And as far as being a 99 vintage, so what, if a camp ground does not want me because of age ( age discrimination) then I prefer not to give them my money. There are lots of places that welcome my money. Same goes for my dog when he was alive.

[Rick A]

If it is financed then the finance company probably requires you to carry insurance on it. If it not, I personally would still have it insured. $50/year is musch cheaper than replacing it in the event something does happen.

[Ray,IN]

Gambling; the insurance company is betting nothing will happen to require payout. You are betting $50 something may happen to require replacement/repair. Since it is classified a 2nd home by the IRS, your ordinary 1st house insurance does not cover it. Can your finances withstand the loss if you drop the insurance to save $50?
Why not sell it? Then you save the $50 annual insurance + licensing and registration fees and any local taxes that may be imposed. Sure, you'll likely lose money, but you'll also lose money if it is allowed to just sit and deteriorate.

[Jeff_in_The_Dalles]

I'd personally keep it insured. Things can happen, and $50 a year for peace of mind doesn't seem unreasonable.

As mentioned above, if you can't forsee a time when you will be able to use the unit again, selling it might make sense. It's value won't get higher.

[Nell]

Good morning!

Thanks to all of you for good advice. We will keep the insurance for just piece of mind. We don't owe anything on the camper, so that's not a issue. It is parked on a concrete slab and fully covered by a tarp as well as us taking everything off and cleaning it inside and out about every 6 months. That'll help any problems from cropping up.

We thought about selling it too. But it's always the case of "maybe we'll get to go". We have no one to help take care of my 84 year old Mother if we even go away for a weekend at this point-she won't have a aid at all-stubborn Maybe we'll get to use it next year when the oldest heads off to college and we can "visit" at a nearby campground.

Thanks again,
Nell

[Jeff_in_The_Dalles]

Well, I think altering your lifestyle to take care of your mother is an honorable and caring thing to do.

I've had friends in that situation, and it worries me that you can't get away for a weekend. Be sure to engineer a bit of time now and then to take care of yourself.

Maybe keeping the RV would be a good reminder that someday your situation will allow you to camp again.

Anyway, best wishes for you and the mother. Sorry if I got too off topic.