camper insurance question

[wiredgeorge]

Camper insurance is due. Progressive jacked up my rate from $343 to $407 and this is with good driver/no claim "discount". I called them and was told the big shots at Progressive decided they were under-charging Texas residents. (I also got no Covid rebate most companies are offering; again, big shot decision).


In any case, I called AARP/Foremost (you might have guessed I am somewhat geezerly). We have my truck and my wife's car with them already. Was told they would write a policy that would be part of our auto policy and limits were pretty close to what Progressive writes me for. Deductible is $100 more comp/collision ($375 Progressive -> $475 Foremost). Bottom line is that Foremost will cost $97 a year (vs $407 Progressive).


Are there any downsides to going with Foremost? I KNOW that different companies write differently in different states and rates vary by state so if you are not in Texas, guess the info is just info... I checked with Geico and they did a pull on my credit and my credit score dropped a couple points so they can basically count me out as a potential customer.

[Javi]

Even being from Texas won't help a lot.. Waco is different than metro San Antonio..

I use Geico .. ol'333 was costing me $330 every 6 months for replacement value and contents

[Carrottop]

At least you have a choice. We here in Manitoba have a choice to use MPI (Manitoba Public Insurance) or MPI (Manitoba Public Insurance). I have to say though that my premiums for the trailer are about $350 CAD per year. So about $280 USD.

[sourdough]

As Javi mentioned, different areas of the state are classified differently so rates vary.

This new trailer costs 388 every 6 months (just pulled it up). That's with full replacement cost (new like trailer for the first 7 years if totalled), contents, medical, collision full replacement, roadside.

Glad you asked since I hadn't even looked to see what they were charging me. You may want to look close at the differences in those policies. I'm thinking getting a like policy for 1/4 cost of the same policy from other companies is strange....?

[Javi]

Originally Posted by sourdough

As Javi mentioned, different areas of the state are classified differently so rates vary.

This new trailer costs 388 every 6 months (just pulled it up). That's with full replacement cost (new like trailer for the first 7 years if totalled), contents, medical, collision full replacement, roadside.

Glad you asked since I hadn't even looked to see what they were charging me. You may want to look close at the differences in those policies. I'm thinking getting a like policy for 1/4 cost of the same policy from other companies is strange....?

That's what mine has too.. every 6 months. That's with full replacement cost (new like trailer for the first 7 years if totaled), contents, medical, collision full replacement, roadside.

I just didn't type it all out..

[JRTJH]

Be VERY VERY careful with insurance policies for RV's. Many cover the trailer and contents (like with a car) but who has guns, clothing, camping equipment, tools, food, pots and pans, etc in a car??? The "contents limit" for some insurance policies is "woefully inadequate". Plus there's the issue of "replacement value vs actual value". With newer trailers, some policies offer 7 years of "new model replacement of like floorplan" while some only offer "NADA wholesale value"... With the depreciation so dramatic on RV's, that could be the difference in getting a new trailer or losing $20,000 if the trailer is totaled.

I'm not suggesting that some insurance is "not as good as other policies" I'm suggesting that a cheaper premium for less coverage may not provide the coverage you thought you had....

[NH_Bulldog]

I am not concerned with “contents” coverage for my possessions in the camper, my homeowner’s policy covers my belongings anywhere in the world. I also have accessories coverage for any “fixtures” added since purchase, but really have minimal added permanently attached accessories. Premium is based on value of the trailer and on top of that, you add more premium for the 7 year replacement cost, just like it would be for car/truck replacement cost.

[sourdough]

Originally Posted by Javi

That's what mine has too.. every 6 months. That's with full replacement cost (new like trailer for the first 7 years if totaled), contents, medical, collision full replacement, roadside.

I just didn't type it all out..

I figured so.

As John noted on personal contents, I do believe she asked, and I had her add, a rider for 10k in personal contents. I'll see if I can't pull that up and see.

[NH_Bulldog]

Originally Posted by sourdough

I figured so.

As John noted on personal contents, I do believe she asked, and I had her add, a rider for 10k in personal contents. I'll see if I can't pull that up and see.

You should check your homeowner’s policy, since most automatically cover personal property away from the residence premises to at least 10% of the homeowners coverage. Why pay twice?

[Javi]

Originally Posted by NH_Bulldog

You should check your homeowner’s policy, since most automatically cover personal property away from the residence premises to at least 10% of the homeowners coverage. Why pay twice?

It cost me $11 every 6 months....

Like the suspenders I wear with my belt... you just never know

[JRTJH]

Originally Posted by NH_Bulldog

I am not concerned with “contents” coverage for my possessions in the camper, my homeowner’s policy covers my belongings anywhere in the world. I also have accessories coverage for any “fixtures” added since purchase, but really have minimal added permanently attached accessories. Premium is based on value of the trailer and on top of that, you add more premium for the 7 year replacement cost, just like it would be for car/truck replacement cost.

Everyone has a different "financial perspective" and "financial situation". Some people rent apartments and don't have any insurance, so they have "no insurance on contents of their trailer". Some own homes and are "over insured", some own homes and are "critically under-insured", while others "manage their "insurance liability" (overzealous agent) carefully to avoid paying for something they don't need...

My intent with posting what I did was to caution someone who may not know or who may have a "busy agent who doesn't take the time to explain what you're paying for" that there are things to consider beyond "the premium price you have to pay every 6 months or every 12 months....

Something that you might consider in your "one policy to cover belongings and another policy to cover the trailer" is deductibles... If your trailer has a $1000 deductible and your home owner's policy has a deductible of $5000, then your loss (to contents) must be more than $5000 before it's even worthwhile to file a claim. For the $11 that Javi mentioned, any loss "to the camper or contents" is covered by the same $1000 deductible, so he actually "saves $4000" if there's a significant loss....

Insurance is a "game that you have to play both ends against the middle" to come out ahead. Few people go past their agent's recommendations and many of them either pay too much or don't have enough coverage in "some situations"...

[sourdough]

Just spoke with Geico. The 10k coverage I had was for liability in an "insured place" basically meaning any campground, rv park etc.

Contents were the standard 1k which was free and I upgraded that today. Told her the 1k wouldn't cover my laptop.

If I have some sort of coverage on my homeowners policy guess I'll just be double covered! Rather do that than be undercovered. No telling how much what DW will throw in here.....

[Mwoods321]

whatever you do stay away from goodsam. They won't pay for anything.