insurance costs

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beachbumd

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Oct 1, 2012
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I haven't bought an rv yet, but looking. I was just wondering about the average annual cost of insurance for a full timer. Any help here?

Dan
 

odie1234

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beachbumd said:
I haven't bought an rv yet, but looking. I was just wondering about the average annual cost of insurance for a full timer. Any help here?

Dan

Health insurance? Casualty insurance? If you are talking about casualty insurance on the rv there are too many unknowns to your questions. Value of vehicle? Domicile address? Driving record and credit score of drivers? Coverages? The list of criteria is long and insurance costs will vary a lot depending on the answers.
 

babylunatic

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The quick answer for a really really rough range is probably $500-$2000/yr for comprehensive, without knowing anything else. I understand the mentality. I was thinking the same thing a few months back when I was looking for an RV.
 

Alfa38User

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Full Timer insurance is different to what most RV's have. A full timer needs insurance that is more like that provided for a homeowner (liability??) and vehicle insurance combined. There are only a few companies that will provide that, most automotive insurers will not. I hope some full timers will jump in with a more definitive answer.
 

BigDfromTN

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Best advice here is call your agent and ask.

You will need to have a particular unit in mind.  Just tell them you are not sure but have one in mind so they can plug it into the rating software and get you a price. 

Might as well get some real world numbers.  When you are ready to buy...  Call more than one.
 

Carl L

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If the RV is a motor home, the insurance has to carry liability.    If it is a trailer, it need only carry collision and comp -- at about half the tab.  (The tow vehicle carries the liability.)
 

Gary RV_Wizard

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In addition to the regular liability and collision/comprehensive that most vehicles have, a fulltimer is wise to have an "umbrella" liability policy to provide coverage for anything that he may be liable for outside of an accident involving the RV itself. If you have homeowner coverage on a dwelling, this is normally part of the package, but a fulltimer needs to get it some other way. You can risk living what it - most apartment renters do - but it is a risk.

Babylunatic's $500-$2000 is about as close an estimate as can be made without lots of details. And that doesn't include the liability umbrella policy either.  To add a data point, my coach insurance costs a bit under $900/year and its market value (a major factor in collision and comprehensive cost) is around $100k. That's for a coach insured in Florida, which is neither the cheapest nor the most expensive stae to insure in.
 

babylunatic

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Just to make a finer point to Gary's $900 number. My insurance cost in Las Vegas is $720/year, but my motor home is only valued at around $15k-$20k. The comprehensive part of the coverage is only about 25% of the total cost, so, don't mistake it and think that if you are shopping for a $50k motor home, then the insurance will be around half of the $900, then you'll severely underestimate your insurance cost.
 

BigDfromTN

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Gary RV Roamer said:
In addition to the regular liability and collision/comprehensive that most vehicles have, a fulltimer is wise to have an "umbrella" liability policy to provide coverage for anything that he may be liable for outside of an accident involving the RV itself. If you have homeowner coverage on a dwelling, this is normally part of the package, but a fulltimer needs to get it some other way. You can risk living what it - most apartment renters do - but it is a risk.

Babylunatic's $500-$2000 is about as close an estimate as can be made without lots of details. And that doesn't include the liability umbrella policy either.  To add a data point, my coach insurance costs a bit under $900/year and its market value (a major factor in collision and comprehensive cost) is around $100k. That's for a coach insured in Florida, which is neither the cheapest nor the most expensive stae to insure in.

Just a point of correction here. 

Most "Umbrella" polices only extends(increases) the limits of the basic or Underlying policy up to the limits of the Umbrella.  Many do not cover anything that is not covered by an underlying policy. The ones that will cover "other liabilities" will have a hefty deductible of at least $10-25,000 or more.  One reason for them being called an Umbrella is that the policy can extend the limits of more than one policy such as Home, auto, RV etc.

Be sure to get a "Full Timer" coverage on your base policy. This is what provides the liability coverage for the Premises of your home.
 

M1894

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My full timers insurance coverage was just renewed last week, $1100.00 including umbrella coverage, based on $90,000.00 value of motor home, [no tickets, no accidents, non-drinker, non-smoker, and never a claim since I started driving. [first driving license issued in 1951.]


Lee
 

Jeff

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Our insurance costs have risen 40% this year with Progressive without a claim so I went shopping.


AARP quoted me a great annual rate of $1150 for m/h and toad but refused to cover us when they found out we spent 6+ months a year in the RV.


The second quote was from Explorer RV Insurance Agency with Geico IIRC and would have lowered our m/h insurance back to last year's rate but they required that the toad be insured as well and their rate for the CRV was so high that the combined rate matched Progressive's!
 

Gary RV_Wizard

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I think Explorer RV writes all their policies through National Interstate or one of its subsidiary companies. Never heard that they require car to be insured as well, though it's an option they offer. They don't require that on my policy, at any rate. You must be special, Jeff!
 

Jeff

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Gary RV Roamer said:
I think Explorer RV writes all their policies through National Interstate or one of its subsidiary companies. Never heard that they require car to be insured as well, though it's an option they offer. They don't require that on my policy, at any rate. You must be special, Jeff!

Great! :mad:
 

yarnkitty

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I do not have fulltimer's insurance yet, but just got a policy for my motorhome from Progressive.  Comprehensive for coach valued at $18,000 (I paid less, but this was the value they had on file for my year and model so I went with it) including liability both driving and the home owner type of liability stuff plus some odds and ends was $500 for a year saying I am using the RV 30 days or less.  I haven't inquired about their price for a fulltime policy yet.  I'm in Texas.
 

Gary RV_Wizard

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Be sure to read the fine print (or ask your agent), because there is no standard definition of "fulltimer insurance". At my company, it merely means that the RV is in use more than 150 days/year, so the rate increases about 8%  to cover what they consider to be heavy usage (as opposed to typical recreational use). But the policy includes liability in and around the RV while parked as a standard feature anyway.

A more extended form of "fulltimer" liability would cover you and your personal property while away from the RV, e.g. if you accidentally broke something at a friend's house or RV and you were liable for the repair.  This is the sort of coverage typically provided as a standard part of a stick & brick homeowner policy but rarely included in vehicle or RV policies unless requested (and extra paid).
 
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