Insurance Coverages

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Hi guys! I'm on an insurance board panel reviewing new coverage options that should be offered.
As RV insurance customers, what would you want insurance companies to offer on their insurance RV policies that hasn't been offered or covered so far?
Think of coverage you wish could be offered through insurance which isn't currently covered under your current policy. All thoughts are welcomed. I will be discussing with the processing team later next week what majority of customers want. Thank you!
 
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Water damage is "covered" in most policies, but the conditions under which coverage applies can get complicated. Most policies require that such damage be caused by some external event (storm, falling tree limb, etc). I think RV owners would like to have coverage for water damage that occurs because of a mechanical failure, one that may be a lack of maintenance or simply an old roof that now has leaky seams. RV owners are NOT construction & maintenance experts and are often simply unaware of potential leak spots until water appears inside. At that point they could be held responsible for preventing further damage, but they don't want to have coverage denied because they didn't know an old caulked seam was going bad.

I suspect this could become a major cost concern for insurers, so maybe this needs to be an optional coverage, sort of like flood insurance. Whether people would buy it would then be a matter of premium cost.
 
How about a supplemental medical policy for those on private medicare advantage plans or private commercial insurance, where those policies might not cover out of state care while on RV trips that involve "out of network" health systems. This would be for suffering a medical emergency on the road or medical costs due to a collision while driving the RV, everything that a regular health insurance plan won't pick up. This would be a Cadillac plan of sorts, which would also cover transportation costs of the RV back home if needed, transportation home if having to stay in a hospital, etc.

Lots of us aren't retirement age yet and have to deal with crappy commercial health insurance, and lots of retirees who also have medicare advantage plans are bound to specific health systems and networks.
 
A better fair value assessment for older motorhomes, possibly based on condition, as it stands NADA is next to useless when it comes to older motorhomes that are in good condition. NADA for motorhomes is not based on actual sales data like it is for cars, instead it is at best a depreciation schedule that clumps lots of only vaguely similar stuff together.

As I see it the problem here is the pathetic condition of the average older motorhome often only good for being dragged to the salvage yard, dragging down the value of the small fraction that are well maintained units that have been garage kept, etc.
 
Rodent infestation. This used to be on my Good Sam policy and was also offered by State Farm, but I have recently suffered damage to my RV when a rat got in and spent just a few days in my basement before I trapped it. With the Good Sam being sold to Allstate (according to what I heard from my service provider) the adjuster looked at the damage and only then told me that such damage is not covered. My service provider indicated that State Farm is also in the process of dropping this coverage. I will change policies if I can find a company that still maintains this as a covered damage.
 
A better fair value assessment for older motorhomes, possibly based on condition, as it stands NADA is next to useless when it comes to older motorhomes that are in good condition. NADA for motorhomes is not based on actual sales data like it is for cars, instead it is at best a depreciation schedule that clumps lots of only vaguely similar stuff together.

As I see it the problem here is the pathetic condition of the average older motorhome often only good for being dragged to the salvage yard, dragging down the value of the small fraction that are well maintained units that have been garage kept, etc.
In the classic car world there are a couple of insurance companies that offer "agreed value" protection. The owner basically states how much he wants to get paid for a total loss.

It should not be hard to do that with a MH. The statistics on # of motorhomes having a total loss accident blended with your personal record should be easy to derive to get exposure.

Then it's a matter of how much the insurance company pays for the total loss.
 
Yep, in the amateur radio world you can get a replacement value policy for any equipment you like, at 10% of declared value. Makes you think carefully about what you decide to insure and for how long as what it amounts to is buying that equipment every 10 years. My guess is that even if you could get an RV policy for water damage, infestations, or any comprehensive loss the most the payout would be is the maximum retail value of the RV which often won't repair or replace the RV. Add in ExCalif's agreed value option and that might make you "whole" in terms of repair or replacement but that premium will be a killer. One would have to weigh that cost vs paying on/towards a newer unit with higher intrinsic value. Insurance is just a bet and the house has the edge, so I pick what I insure and by how much very carefully.

Mark B.
Albuquerque, NM
 
This used to be on my Good Sam policy and was also offered by State Farm, but I have recently suffered damage to my RV when a rat got in and spent just a few days in my basement before I trapped it. With the Good Sam being sold to Allstate (according to what I heard from my service provider)
Good Sam is not an insurer - just a insurance sales agency. They sell policies tailored to their audience, but they are not the insurer or the adjuster if you make a claim. For years they sold policies from National General. Allstate bought National General last year, so they are effectively the insurer for GS policies now. Good Sam also sells Allstate's Roadside Service package, which Allstate also offers through the Allstate Motor Club.
 

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