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Old 09-18-2014, 10:28 AM   #1
Padgett
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Default Insurance cost

What I do not understand is why insurance (particularly comprehensive) for a TM is so high, about the same as the whole package for my tow vehicle which is a lot more valuable and has lower deductables.

Did ask Geico and they said being garaged made no difference and was not a "pop-up".
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Old 09-18-2014, 10:36 AM   #2
Redtail Cruiser
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Maybe it's a regional thing. I bought full coverage with a $15,000 replacement value and the cost was very reasonable.

I just looked up my policy and my cost only added about 10% to my auto policy
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Old 09-20-2014, 12:42 PM   #3
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Geico's insurance has changed. I used to have them and they were very reasonable. Now they are not for a variety of reasons. Insurance in Florida for my TM will run me at least 3x what it does (with the no tort option) in PA.
Progressive is overall better, Allstate is the cheapest on just the TM when added to your auto policy and State Farm is a bit more expensive. Good Sam, (underwritten by National General) is expensive, guess they don't really want to write insurance in an expensive, higher risk market like FL.
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Old 09-24-2014, 08:21 PM   #4
funpilot
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Quote:
Originally Posted by Padgett View Post
What I do not understand is why insurance (particularly comprehensive) for a TM is so high, about the same as the whole package for my tow vehicle which is a lot more valuable and has lower deductables.

Did ask Geico and they said being garaged made no difference and was not a "pop-up".
I had gotten quotes on a 2015 Livinlite 28bhs trailer from Geico (all aluminum but otherwise standard trailer) and just now got a quote from Geico on the 2015 3124KD. They are almost identical so at least Geico does not premium price TMs it appears for those of us in Virginia. However, for comparison purposes, I was quoted around $240.00 for either trailer for 6 months complete coverage including full replacement value and using camper for around 60 days a year. Since I have not priced RV insurance in 20 years, I may be way off on this being reasonable so please let me know.
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Old 09-24-2014, 09:05 PM   #5
rvcycleguy
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Insurance is priced using any number of criteria based on region, customer, value, replacement, parts, rarity, and driving records. No way to compare premium to premium. What I pay in Texas on the gulf coast cannot be compared to anywhere else in the country.

What we pay is what it costs for our specific plan.
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Old 09-25-2014, 09:20 AM   #6
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My rider, I put on my auto policy for the camper is a very low price. It is full coverage and has the same deductible as the auto, which is 500. It cost $56 per year, which I change it to parking insurance during the winter when its in the garage. The winter rate is about 28. So the real cost for 12 months is about $45

I used a "Stated Value" for the camper of $7000. I have found throughout the years that insurance prices are better with used campers with a stated value. I bet if I had not gone with stated value, it would have been 250 per year because they would have used the value when new when rating it, and let an adjuster figure out the deprecation if I had an accident.

Insurance does use not only use your driving record, but also uses reported accidents in your area to figure out rates. So maybe with all the snowbirds there are a lot of accidents in your part of FL with trailers.
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Old 09-25-2014, 09:46 AM   #7
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Must be something, mine is about $500/year with three other cars on the policy. Almost all just for comprehensive. Double what my class A RV cost for everything.
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Old 09-25-2014, 10:56 AM   #8
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I would have them re-rate it with "STATED VALUE", you state the value. Give them a far used value for that year TM.

We're at about 600/12 months for our two cars, but with full coverage and higher coverage than state mins.
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Old 10-04-2014, 08:56 PM   #9
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Rates for my TM are quadruple in Florida compared with Pennsylvania. This is even using a cheaper formula -new price with replacement value vs a cheaper stated value. Maybe it is all those Cheeseheads?
For my auto close to double.
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Old 10-05-2014, 08:59 PM   #10
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Quote:
Originally Posted by moaboy View Post
Rates for my TM are quadruple in Florida compared with Pennsylvania. This is even using a cheaper formula -new price with replacement value vs a cheaper stated value. Maybe it is all those Cheeseheads?
For my auto close to double.

I think new price with replacement value you would get the value of a 2015 if you totaled your 2009 TM. Yes, that would be a lot more cost to insure.

I'm just looking to cover my value of the camper with stated value and taking the guess work out of the value. With my 5 campers and over 25+ years of buying insurance for campers. I'm just looking to cover my lose and at the same time not give the insurance company to much money.
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