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Author Topic: Renting out your RV  (Read 32162 times)

firehog

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Renting out your RV
« on: May 28, 2010, 06:15:32 PM »
Hello,  I recently retired and want to buy a RV to travel through the States, but would also like to rent it out when it is not used.  Does anyone know of any Insurance companies that carry a commercial type of insurance so you can be covered when someone is renting from you?  I see a lot of ads where folks rent out their RV and request proof of a binder from the renters insurance company for the specific time it is rented, but I want to have a back up insurance anyway.

I know commercial insurance is quite a bit more expensive than normal insurance but it should be less expensive if you have a binder from the renters insurance company.

I stopped in at a local Independent Insurance agent and he didn't know of any insurance company that provides commercial insurance as such described above which I find odd.

Thanks, Ray

ArdraF

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Re: Renting out your RV
« Reply #1 on: May 28, 2010, 10:07:54 PM »
Ray,

Most of us consider our motorhome to be too big an investment to trust it to some stranger who may or may not know how to use all its features or, worse, might have an accident and total it.  Also, we prefer not to trust the interior to people who may smoke (for example) or be careless with our possessions.  I don't want other people to use my sinks, refrigerator, bed, toilet, etc. etc.  One reason I have a motorhome is because I can avoid staying in motels or hotels which may or may not be clean.  How would you feel if someone rented your motorhome, slept in your bed, and their kid just happened to have picked up lice at school and they transferred it to your bed?  Yuck!  Regardless of insurance, there's no way we would rent our motorhome!

If you want to see previous threads on this subject (we've had quite a few), please use the Search button above.

ArdraF
« Last Edit: May 28, 2010, 10:09:25 PM by ArdraF »
ArdraF
:D :D

PatrioticStabilist

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Re: Renting out your RV
« Reply #2 on: May 29, 2010, 12:37:46 AM »
Boy, do I agree with that.  We are almost anal about maintaining any vehicles we own and I'm with Arda on that.  One of the reasons I wanted one is our own clean beds, bathroom, and knowing who is preparing our food, me.

I went through and thoroughly cleaned it, sprayed the mattress and upholstered items with flea spray to kill any little critters and put on a mattress pad.

No I don't want people who won't care for it as much as I do using it.  Sorry

34footer

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Re: Renting out your RV
« Reply #3 on: May 29, 2010, 08:21:54 AM »
.....and you don't know the driving ability of the person. A buddy of mine rented his out to a family member for three nights....it came back with two dents. :(
J
1988 Pace Arrow, 34 feet, Chevy 454
                       So Cal

PancakeBill

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Re: Renting out your RV
« Reply #4 on: May 29, 2010, 09:31:26 AM »
I tried renting my sailboat out back when I had it.  Figured 2 weeks rental paid most of my expenses for the season.  Did it twice.  Never again, way too much to deal with, One guy didn't really understand the diesel, had to go rescue, the other guy grounded over a rock.  Fortunately the boat came thru it OK, but just not worth it.

To answer your original question, if you are bound to do this, find a place like a dealer that rents, and do it on a consignment type agreement, they will have your insurance answers.  This is how I rented my boat out.

Bill & Jolene W & Koda

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firehog

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Re: Renting out your RV
« Reply #5 on: May 29, 2010, 04:39:09 PM »
Well, I fully understand the negatives of renting.  I have been a Landlord for over 20 years and I know the importance of screening, damage and cleaning deposits.

As far as sleeping in a bed where my renter has, I feel it is the same as sleeping in a hotel bed where hundreds of people have slept in that same bed before you.  And using the same toilets and showers...

I understand also about swimming in the same swimming pool that hundreds of others have swam (and peed in!!).

The motor home I was planning on buying was older (1993) with 50K miles on it but in excellent condition.  The price was very attractive so if it got totally trashed I wouldn't be out that much.  Sure, I have had bad tenants, but all in all, the majority were good.  I just want to find the name of the insurance company that issues commercial insurance to private RV owners for renting.

I know it is expensive.  I took out  commercial insurance on a 16' box truck to haul freight a couple of years ago and it was $400 a month.  I have an old 1973 Rolls Royce I was thinking of renting out and it is $7200 a year!  That is $20 a day.  I was just wondering if anyone here actually did rent out using commercial insurance and what the daily price would be.

I don't want to start an argument on the pros and cons of renting out and get on every body's bad side.  I have tons of questions on RVing and want everyone to love me!!  And give invaluable advice so I don't learn things the hard way.

By the way, I have been retired for 6 years and am 56 years old and itching to start RVing.  I love going on cruise ships, but after so many of those, its time to try new adventures.  Thanks, Ray

Bob Buchanan

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Re: Renting out your RV
« Reply #6 on: May 29, 2010, 05:04:04 PM »
Ray, I have rented an RV and it was a very positive experience - though it was through a rental agency vs. doing it on my own. If you Search for this topic you should see my posts about the experience.

Commercial insurance "will" be much more expensive, but essential. There was one rule that I was not aware of (and can't think of the legal term), but if someone does not return your unit, the law won't go after them because you "gave them the keys".

Look on Progressive's website. Quoting loosely from their home page, they have commercial policies on cars, trucks, big trucks, and "everything in between". Can't recall the pricing of my policy, other that it was "much" higher than my personal policy. Also, keeping the maintenance up, and preparing the unit was all taken from my income. The only thing the rental agency paid for essentially was the cost of keeping it rented. All associated costs were mine. So to make it work, it needs to be on the road, vs. sitting waiting to be rented.

Another thought is about breakdowns on the road -- and how you would handle that. the agency I worked with had the renter call to find out just where to take the unit or otherwise handle the breakdown. As a full time RVer, I have broken down on long, lonely roads several times -- and know just what to do. Your renters need to know as well, and just how the commercial policy would handle the costs. Also, the boarding or travel of the renters if the breakdown was more serious than changing a tire.

One thing that I was pleased with that I have mentioned before is that as part of the setup of my rig for rental, the agency removed my awning, hubcaps, lighter, coffee maker, and rear ladder -- plus locked the hitch receiver and posted no smoking signs.

BTW, according to the folks that handled my rental, a 24 foot Class C will have the highest probability of being rented.

Good luck, Ray. It "can" be a positive experience if handled properly.
Bob (fulltimer - Rocklin, CA residency)
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tvman44

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Re: Renting out your RV
« Reply #7 on: May 29, 2010, 05:42:45 PM »
I'd sell before renting.

jimmerz

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Re: Renting out your RV
« Reply #8 on: April 23, 2013, 10:07:40 PM »
Hi All, I am new.  This is my first post.  I was searching the net and landed here.

My wife and I are looking to get into the RV world.  We are still debating on Class C / A (used).  or a nice TT (but we need to get a truck).

Back on topic...Ray.  I was at my local RV dealer and the lady that managed the place was very nice and informative.  She mentioned her fleet program and how you can buy an RV and enter it into her fleet.  She said that the storage and upkeep is done by her staff and anytime you want it you go get it.  It is then able to be rented out when we are not using it.  She said that she personally handles all rentals and screens people very well.  Most of her customers are return customers.

She said if we didn't want to rent it out much or at all we can set the rental price very high.  We would still be able to utilize the free storage at her facility (which is nice because that is another expense no matter which route we end up going.

I would check with your local dealers and see if they have such a program, it just might work out for you?

BLAKDUKE

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Re: Renting out your RV
« Reply #9 on: April 27, 2013, 06:52:52 PM »
Ray

I doubt there is anyone here that would hold you in ill will if you went and did this.  All I would say is that there is no way in HE!! I would rent out my 38' DP.  If you you go ahead and do it, good luck to you and I will hope you never regret it.

ALK
Al Kahl
2000 CruiseMaster by Georgie Boy DP

Frizlefrak

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Re: Renting out your RV
« Reply #10 on: April 28, 2013, 04:24:41 PM »

Commercial insurance "will" be much more expensive, but essential. There was one rule that I was not aware of (and can't think of the legal term), but if someone does not return your unit, the law won't go after them because you "gave them the keys".


The term is called "Conversion". 

I won't go into a ton of detail, but I manage a large car rental operation for a living.  Given only two choices, I would sell my RV at a massive loss before I would rent it out.  I could tell you enough stories about rental car abuse to fill a 10 volume compendium.....I can only imagine what this caliber of human would do to an RV.
2014 Ram 2500 Cummins
2012 Palomino 30' TT

jimmerz

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Re: Renting out your RV
« Reply #11 on: April 28, 2013, 07:11:03 PM »
The term is called "Conversion". 

I won't go into a ton of detail, but I manage a large car rental operation for a living.  Given only two choices, I would sell my RV at a massive loss before I would rent it out.  I could tell you enough stories about rental car abuse to fill a 10 volume compendium.....I can only imagine what this caliber of human would do to an RV.

I hear what you are saying, but my thinking is like this:  Just about ANYONE can rent a car.  Not too many will spend the $$$ to rent an RV for a weekend or a week.  It is quite pricey.  And if you have a reputable RV dealer that handles the rentals and they do screen customers, I would hope that too would narrow the chance you get someone who is that irresponsible.  I know we plan on renting one for 4-5 days just to see how things go and if we will like it.  We have no intentions of messing anything up and plan on treating it like it was ours.  On top of that, I don't intend to lose my $750 cash deposit on top of the $1000-$1400 that I am going to drop just to rent it, let alone the cost of gas!

So, I think renting it is NOT as bad as renting cars.  IMO.  :D

unclerich

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Re: Renting out your RV
« Reply #12 on: April 28, 2013, 10:05:53 PM »
Firehog, not a good idea. I think you will find the costs are way too high for the amount you would realize in rental. Remember you are renting a twenty year old rig. And you are not renting a classic/special interest rig. A 50's vintage original Airstream might command a premium price, but you are in the same category as someone renting a 1994 car, and a Chevy, not a Rolls Royce.

As a rental vehicle, you would be wise,if you go ahead to get a huge general liability policy to help cover the law suites you are bound to have.

Frizlefrak

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Re: Renting out your RV
« Reply #13 on: April 29, 2013, 02:58:41 PM »
Maybe I'm just biased....but I think of my RV as a highly personal item.  It would be like letting a total stranger have my house.....as I live in it....for a couple of weeks.  Sleeping in my bed, using my bathrooms, my kitchen....you get the picture.  I cringe just thinking about it.  But hey....YMMV.  :)
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Jammer

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Re: Renting out your RV
« Reply #14 on: April 29, 2013, 03:12:01 PM »
Insurance?  Beats me.  For me a great deal of the attraction of the RV experience is that my trailer or camper is going to be just the way I like it any time I want to go on a trip.  I leave my clothes, toothbrush, Scotch, etc. all there between outings and leave food in the fridge and a pizza in the freezer.  Renting would undermine that for me although I suppose I would see things differently if I only went on 1 or 2 trips a year.
2004 Suburban 2500 4wd 8.1 / 2010 Airstream Classic 30' /
1997 K2500 regular cab long bed pickup / 1971 Cayo C-11

BigDfromTN

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Re: Renting out your RV
« Reply #15 on: April 30, 2013, 10:54:03 PM »
Insurance?  Beats me.  For me a great deal of the attraction of the RV experience is that my trailer or camper is going to be just the way I like it any time I want to go on a trip.  I leave my clothes, toothbrush, Scotch, etc. all there between outings and leave food in the fridge and a pizza in the freezer.  Renting would undermine that for me although I suppose I would see things differently if I only went on 1 or 2 trips a year.

This sums it up for me...

And if only 1-2 trips a year,  I would be one of those renters and skip all the issues that come with owning and caring for an RV.

On the other hand of renting.  It is my firm opinion that most folks dont realize these things require different care and use than stick and brick houses.  They are not as sturdy and you must handle them with care.  Much less idiot proof if you will.  You also may well get an operator that has never driven anything bigger than the family sedan or mini-van.  Also as mentioned about the liability insurance.  Here in TN the owner of a motorized vehicle is ultimately responsible for any damage that vehicle does.  Be it a trafffic accident, hitting a gas station awning, or backing into something along the way.  That could get scary and expensive!

For me personally,  I dont see the reward warranting the risk involved.
Best of luck with what ever you decide to do.  I also applaud you for asking and educating your self on what you may be getting into instead of just listening to the "salesman".

PancakeBill

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Re: Renting out your RV
« Reply #16 on: May 01, 2013, 08:48:51 AM »
Might be easier to borrow a motorcycle during Bike Week.
Bill & Jolene W & Koda

Old Faithful, Yellowstone Association Bookstore
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hes4all

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Re: Renting out your RV
« Reply #17 on: May 01, 2013, 11:27:30 AM »
Been there, done that and will NEVER do it again!
Terry and Janelle
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asgweb2

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Re: Renting out your RV
« Reply #18 on: April 14, 2015, 10:03:59 PM »
MBAinsurance.net provides insurance and RentMyBudgetRV.com has a great site for renting it out.
Todd Anderson
Vintage Trailer Restorations
RV Repairs and
RV Rentals since 1983

Mopar1973Man

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Re: Renting out your RV
« Reply #19 on: April 15, 2015, 08:59:49 AM »
Ray,

Most of us consider our motorhome to be too big an investment to trust it to some stranger who may or may not know how to use all its features or, worse, might have an accident and total it.  Also, we prefer not to trust the interior to people who may smoke (for example) or be careless with our possessions.  I don't want other people to use my sinks, refrigerator, bed, toilet, etc. etc.  One reason I have a motorhome is because I can avoid staying in motels or hotels which may or may not be clean.  How would you feel if someone rented your motorhome, slept in your bed, and their kid just happened to have picked up lice at school and they transferred it to your bed?  Yuck!  Regardless of insurance, there's no way we would rent our motorhome!

If you want to see previous threads on this subject (we've had quite a few), please use the Search button above.

ArdraF

Exactly the reason we got our RV was to keep from staying in motel room that seem to be getting pretty nasty at times. Not to mention I'm getting to old for the sleeping on the ground in the cold or sleeping in the bed of the truck any more. Maybe when I was a teenager but now my back does let me do things like that much anymore. As for renting out a home of any sorts be it sticks and brick or RV. I've seen in my days of working with the Fire Dept and as a mechanic how people treat there homes and vehicles. 90% of the people I know locally I would not rent my guest house nor would I rent my RV to them. Looking at how the take car of there vehicles and their home now just blows me away.   :o

So in a nut shell "Absolutely not going to rent my RV to anyone".
Mopar1973Man (AKA: Michael Nelson) located out in the state of Idaho with...
2002 Dodge Ram 2500 5.9L Cummins Turbo Diesel
2000 Jayco Eagle FBS 296
2013 BigTex 70TV Utility Trailer

GoRVnow

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Re: Renting out your RV
« Reply #20 on: August 20, 2015, 09:33:19 PM »
Yes, our RVs are like our homes and a very personal space.  But the new sharing economy is changing the way we view our possessions.  People are preferring the experience over the ownership.  This economy operates as a community market place where both guests and hosts create profiles, review and rate each other. So, reputation capital keeps everyone in check, weeds out potential misbehavior and inspires trustworthiness and friendship.  Look at the success of www.airbnb.com and www.uber.com both over 20 billion dollar companies in less than 10 years.  Something to think about...
Need an RV? Rent one! | Have an RV? Share it!
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The Airbnb of RVs

WILDEBILL308

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Re: Renting out your RV
« Reply #21 on: August 20, 2015, 10:08:06 PM »
Hello,  I recently retired and want to buy a RV to travel through the States, but would also like to rent it out when it is not used.  Does anyone know of any Insurance companies that carry a commercial type of insurance so you can be covered when someone is renting from you?  I see a lot of ads where folks rent out their RV and request proof of a binder from the renters insurance company for the specific time it is rented, but I want to have a back up insurance anyway.

I know commercial insurance is quite a bit more expensive than normal insurance but it should be less expensive if you have a binder from the renters insurance company.

I stopped in at a local Independent Insurance agent and he didn't know of any insurance company that provides commercial insurance as such described above which I find odd.

Thanks, Ray
Ray, read this thread.
http://www.rvforum.net/SMF_forum/index.php/topic,87193.0.html
Bill
2003 Bounder 38N
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A man who carries a cat by the tail learns something he can learn in no other way.
-Mark Twain-

Tom and Margi

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Re: Renting out your RV
« Reply #22 on: August 20, 2015, 10:27:04 PM »
Once again, as in a similar thread posted currently, I'll try to be nice.  I think you're being incredibly naive if you think people who have worked extremely hard their whole lives to own an RV will turn it over to a stranger who knows nothing about how to drive it, park it, or has knowledge of the sometimes intricate workings of the applicances, inverters, converters, solar systems, black and gray systems, water systems, etc.  Your comparison to Uber is absurd!  Those people drive their own cars while picking up whoever to take wherever.  I doubt many of us would choose to do that, either! 

Frizlefrak

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Re: Renting out your RV
« Reply #23 on: August 20, 2015, 10:44:27 PM »
But the new sharing economy is changing the way we view our possessions.

Seriously?  New Sharing Economy?  Sounds like a hippie commune.  And I view my possessions today the same way I always have....as MINE.
2014 Ram 2500 Cummins
2012 Palomino 30' TT

blw2

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Re: Renting out your RV
« Reply #24 on: August 21, 2015, 09:03:13 AM »
I can only maybe imagine someone renting an RV out if they never use it anymore, or maybe something they use once a year for a tailgating game.... something like that.
and more likely a TT, not  MH
Brad (DW + 3 kids)
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former tent campers

Bill N

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Re: Renting out your RV
« Reply #25 on: August 21, 2015, 09:22:23 AM »
The term is called "Conversion". 

I won't go into a ton of detail, but I manage a large car rental operation for a living.  Given only two choices, I would sell my RV at a massive loss before I would rent it out.  I could tell you enough stories about rental car abuse to fill a 10 volume compendium.....I can only imagine what this caliber of human would do to an RV.

Does this 'Conversion' rule apply to the rental car companies, i.e. if a vehicle is not returned, the law will not treat it as a theft and apprehend the perp?  Seems like the theft rate would be astronomcal if that is the rule.
Bill & Joan N in Missouri
USAF (Ret)
2002 Winnebago Adventurer 35U
Workhorse W22, 8.1L Chevy V8
2013 Chevy Sonic Toad
Furbearers:  Heidi-17(Forever), Grace-10 & Squeak-4, Winnie - 6 months

Bill N

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Re: Renting out your RV
« Reply #26 on: August 21, 2015, 09:27:22 AM »
Yes, our RVs are like our homes and a very personal space.  But the new sharing economy is changing the way we view our possessions.  People are preferring the experience over the ownership.  This economy operates as a community market place where both guests and hosts create profiles, review and rate each other. So, reputation capital keeps everyone in check, weeds out potential misbehavior and inspires trustworthiness and friendship.  Look at the success of www.airbnb.com and www.uber.com both over 20 billion dollar companies in less than 10 years.  Something to think about...

Now I know for sure that I am totally out of touch with the current generation.  I saw a story about UBER yesterday and it detailed the histories of some of the drivers -ex-cons, sex offenders, and folks I would not care to ride with.
« Last Edit: August 21, 2015, 09:30:53 AM by Bill N »
Bill & Joan N in Missouri
USAF (Ret)
2002 Winnebago Adventurer 35U
Workhorse W22, 8.1L Chevy V8
2013 Chevy Sonic Toad
Furbearers:  Heidi-17(Forever), Grace-10 & Squeak-4, Winnie - 6 months

Bill N

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Re: Renting out your RV
« Reply #27 on: August 21, 2015, 09:31:44 AM »
Seriously?  New Sharing Economy?  Sounds like a hippie commune.  And I view my possessions today the same way I always have....as MINE.
X2
Bill & Joan N in Missouri
USAF (Ret)
2002 Winnebago Adventurer 35U
Workhorse W22, 8.1L Chevy V8
2013 Chevy Sonic Toad
Furbearers:  Heidi-17(Forever), Grace-10 & Squeak-4, Winnie - 6 months

Gary RV_Wizard

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Re: Renting out your RV
« Reply #28 on: August 21, 2015, 09:31:59 AM »
I think there is a substantial "sharing economy" out there, and GoRVNow is trying to cash in on it. Some people do trade swap their houses & apartments, share rides,, etc.  I just do not care to be part of it, for all the reasons others have cited.

Most of the people responding here are frequent RVers and it probably makes little sense for any of us to rent out an RV for the occasional week or two when we aren't using it. Part of the attraction of owning an RV is so that we don't have to pack & unpack each and every time you want to take a few days off.  That's not so much a factor if you only use the RV a couple weeks each summer, so a rental service makes more sense for that type of owner.  It's just not me.
Gary
--------------
Gary Brinck
Summers: Black Mountain, NC
Home: Ocala National Forest, FL

Marsha/CA

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Re: Renting out your RV
« Reply #29 on: August 21, 2015, 09:43:17 AM »
There is no way I'd rent mine out; commercial insurance policy statement or not.  I could end up paying more for repairs than the small amount I'd get renting.  Plus the liability I'd be responsible for by being the owner of the rig in this very litigious society we are living in today.   

Marsha~
« Last Edit: August 21, 2015, 09:49:04 AM by Marsha/CA »
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