Tear Drop Insurance ????

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Tear Drop Insurance ????

Postby Gadget Man » Tue May 02, 2006 12:24 pm

Greetings;
What have you guys been doing for insurance on your fine rigs once they are finished?
Are you getting a separate policy on the camper alone?
Or are you grouping it in on your auto policy?
I'd gladly pay $100. a year for a separate policy if I knew it had better coverage. I'm mostly thinking Comp. or Collision, either if a tree fell on it, or if I ever were in an actual car accident.
Where would you ever go for repairs, except straight back to your own garage? The payout would have to come right back to yourself.
I called my Farmers Insurance agent, and he said it just goes on your auto insurance, but I think I want more. ??? :thinking:

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Postby sftiggee » Tue May 02, 2006 2:28 pm

I have a separate insurance policy on my trailer so that I'm covered no matter which car tows it.

I got it through 21st century insurance at first, then when I bought my house, I moved all my policies over to Farmers.

Luckily with camp-inn, they are listed in the RV price guide so they can find the value adn insure it a bit easier. I have liability, collision on it and replacement value for a new one if it's totalled (i think 10K). It costs me an extra $400 a year (damn urban California) but it's worth it to me.

For a homebuilt, i believe you can insure it only for the value of what it cost to build (not your labor). Some others who have insured a homebuilt will surely chime in with more in depth advice on that.

good luck!
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Postby 48Rob » Tue May 02, 2006 6:41 pm

Hi,

I have on my Cabin car, and also have on my other campers/cars, an agreed/stated value policy.

It requires an appraisal and photos, and if something happens, they pay up to the amount.
Never had to use it, so I don't know how good it is, but it is far better than having a problem, and letting them determine the value :thinking:

As far as who you take it to for repairs, some trailers could be fixed by an RV shop, but many others would quickly be totaled after the ins. co, figured out how much effort would be required to repair it.

I'm not an insurance expert, but generally, the "coverage" you get when towing the trailer with your car, is only for liability.
That doesn't cover damage to the trailer, only damage caused by the trailer.

This is one of those times that you should seek out a pro that can give you answers backed in writing...

Rob
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Postby cherokeegeorge » Tue May 02, 2006 7:13 pm

Jolene I'm also in calif and have a Camp-Inn. I have a $1000 deductible and full coverage and my premium is $60 a year. I'm with state farm
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Postby anonymous2 » Tue May 02, 2006 8:18 pm

Hi all,

I too have State Farm ,and pay $100 a year full replacement coverage,and $500 deductible. Jolene I would hunt another company. I had a full sized travel trailer with the same coverage for only $250 a year.We have that Philadelphia/New York driver influence drive our insurance rates up higher then rural areas. We are inlcuded in the Philly circle of rate charges,and Philly has the highest insurance rates in our state,and 3rd highest in the east coast. Shop around ,because RV rates are based on limited use during the year. Your home owners,and or car insurance may have coverage included. Sounds like you are paying for something you may already be paying for,check into it.

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Postby 48Rob » Wed May 03, 2006 6:02 am

Jolene,

I just reread your post, and realized I missed a couple things... :oops:

Mine is "homebuilt" and the insurance company had no problem covering it...as long as I provided an appraisal and photos.
They aren't concerned that Labor was, or was not, included, only that it is legitimately appraised.

The cabin car policy is about $120.00 a year, for $17,000.00 of coverage, what I determined it would cost to recreate this thing if it were totaled.

Rob
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Postby Cary Winch » Wed May 03, 2006 9:47 am

Rob,

Oh, I don't know. Probably would cost more than that to recreate. That kind of quality is hard to replace.

By the way. I signed up for Montello now. I asked where your site was and I am adjacent to you. So, that will be neat. Cabin car and raindrop that close.

Jolene,

I agree with George and Bill. We only pay about $100 for our Ultra demos. I think Craig's is through State Farm (maybe Betsey can chime in here) and mine is through American Family.

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Postby sftiggee » Wed May 03, 2006 1:39 pm

Hmmm, now I'll have to dig out my policy and see what's up with the trailer. I may have spoke wrong because now i can't remember if it is covered in each car policy, or if it has its own (policies and payments are meltign together these days).

I will look up the policy tonight and see what's up. i am with my current place now because i get a big discount for having all the policies with them.

I also live in a bad part of Oakland, and that has alot to do with my higher rates (my car policy jumped $400 a year just for moving there from another bay area city).

I'll dig it otu and look it up tonight, thanks for the heads up.
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Postby Cary Winch » Wed May 03, 2006 2:47 pm

Jolene,

That might explain it. If the car is that much higher it would make sense the trailer would too. Have to remember we are in a nice neighborhood (making you homesick?).

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Postby Kurt (Indiana) » Wed May 03, 2006 7:23 pm

48Rob wrote:Jol

I determined it would cost to recreate this thing if it were totaled.

Rob

Rob, I'm always looking for an excuse to build another one, so I don't carry any insurance. I'm really not sure how you can insure a "Utility Trailer" in Indiana for very much value. :thinking:

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Postby campadk » Thu May 04, 2006 10:02 am

I checked... we pay $173 Cdn/with $2,000,000 of coverage, replacement value of $6,300. Deductible is $500.

I should really increase the deductible. Heck our car insurance is only about $900 !
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Postby Gadget Man » Thu May 04, 2006 2:42 pm

I may have slighly underestimated the cost of a separate policy.
I went on-line to Progressive.com (where I have all my other toys)
I entered the information the best I could,
humm, no catagory for homemade Tear-Drops..? What the......? ;)
But even for $500. deductable on a trailer valued at $5000. it was $295 per year.
I basicaly entered the basic minimum for all the questions and thats what it said the policy would be.
I think I'll shop around a bit more.

Thanks for all the advice.

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Postby exminnesotaboy » Thu May 04, 2006 10:33 pm

I just insured my Cubby for $5k. Comp and Collision @ $80/year with State Farm.

Before I put it on, they automatically covered it under my tow vehicle.
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Postby sftiggee » Thu May 04, 2006 10:43 pm

Cary Winch wrote:Jolene,

That might explain it. If the car is that much higher it would make sense the trailer would too. Have to remember we are in a nice neighborhood (making you homesick?).

Cary


Yes:( I miss the quiet midwest, where i dont' hear gunshots almost daily unless it's deer hunting season, and I don't have to watch out for sideshows and street racers and drug deals gone bad while I drive home.

Curse you Bay Area for being soo damn expensive to buy a house in that us non-millionares can only afford ghetto neighborhoods!


On the other hand, it makes for some interesting stories to tell my poor mother (like the drive by in front of my house and the dead guy closing off the street in front of my dining room window for 3 hours. THAT was interesting.)
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Postby dmb90260 » Thu May 04, 2006 11:50 pm

I have had an insurance guesstimate on my Tear before and did not like the price.
I have just picked up a '56 Kenskill Canned Ham and had it in Camping World for new tires today and decided to see what the latest quote would be.

For an $8K Tear with full replacement and money for contents the rate for SIX months was $131 ($500 deduct). The Canned Ham is off their charts so had the barest coverage for $20/six months. If I declared the Canned Ham a Classic they would have some kind of coverage available but the lady no clue how to do that. At this point, it is just old, not fixed up enough to be a Classic but the new tires look good.

I recall trying to get my State Farm agent (home and truck coverages) to give me a quote for the Tear. He was clueless and could not find anything to cover it.

It seems to matter where you live and how smart your agent is.

My policy at this point is new tires and don't tailgate. :o :(
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