Insuring your RV

[leslie]

Reading the posts about registering your RV, caused me to think about liability insurance for my RV. Liability is covered by my tow vehicle's insurance. I increased the amount of liability coverage when I purchased my Camplite. My insurance agent was not very helpful when I asked about how much liability I needed, now that I will be towing.

I have been thinking about what could happen if I back my camper into someone else's RV. I haven't done this yet, as I have been able to be far away from any other camper. I think this is my worst fear with backing up my camper.

So, what do others think? How much coverage is enough?

[david]

How much insurance to carry is a function of the risk (the probability that something will happen to trigger needing it), the chance that someone will sue you to collect for damages, the potential value of those damages and more importantly your personal financial situation.

I firmly believe that most of us should take out an umbrella liability policy. This policy is pretty cheap, a few hundred dollars per year for $1 million in coverage. It extends the primary coverage: auto, home owners, etc. and pays claims above the primary up to the limits of the umbrella policy.

One rule of thumb is to carry an umbrella equal to your net worth.

David

[shovelhead]

I went to my USAA policy and added the LL. However, it went to Progressive. I assume they are the underwriter.

[jerrybeaird]

[quote source="/post/9771/thread" timestamp="1429724602" author="@shovelhead"]I went to my USAA policy and added the LL. However, it went to Progressive. I assume they are the underwriter.[/quote]Same here....great minds think alike!

[gnies]

[quote timestamp="1429723179" author="@david" source="/post/9769/thread"]How much insurance to carry is a function of the risk (the probability that something will happen to trigger needing it), the chance that someone will sue you to collect for damages, the potential value of those damages and more importantly your personal financial situation.

I firmly believe that most of us should take out an umbrella liability policy. This policy is pretty cheap, a few hundred dollars per year for $1 million in coverage. It extends the primary coverage: auto, home owners, etc. and pays claims above the primary up to the limits of the umbrella policy.

One rule of thumb is to carry an umbrella equal to your net worth.

David[/quote]I do have an Umbrella liability policy too but also took an insurance on my RV which is separate from my car insurance, in case of something happens while not in tow like damage, stealing, fire, etc.

[leslie]

Paul is right. I have insurance from Good Sam for theft, fire, and somebody damaging my RV.

[djsamuel]

Paul is right. I have insurance from Good Sam for theft, fire, and somebody damaging my RV.

Same here.  Going through Good Sam got me the best rate, MUCH better than what Coach-Net offered.

[pinstriper]

I took out a policy on the trailer with my home and auto agent, State Farm. We also have the umbrella, but beware ! in order to qualify for the umbrella, you will also have to up your liability on your other policies. So our auto policies got a few dollars more expensive, too. It wasn't just the cost of the umbrella. That said, we were fools in the first place for carrying only legal minimum liabilities on the autos, so. And it really isn't that big a difference in the cost.