Did you know that most Campers/Travel trailers are NOT covered by your Homeowners policy? A lot of people think that it's covered under their Homeowners policy because it's considered personal property. But, actually you need to have a separate policy or an endorsement to your current Homeowners policy to cover it with most insurance companies.
With the company that I worked for, they required a separate policy. You were able to select your deductibles and the coverage amount was usually determined on the value of the unit. If your just adding an endorsement to your current Homeowners policy, the deductible is usually the same as your Homeowners policy.
How do they determine how much coverage I need? They are usually going to ask you some questions about your Travel Trailer/Camper. Some of the questions you will be asked are:
What is the year make and model of the unit
How long is the unit
How much did you pay for the unit or do you know the MSRP
How much coverage do you want on it or what is your bank requiring
If you do have a lien on it (your making payments to a bank) then they are also going to need the bank info so they can list them on the policy. They do this so that if it's damaged (total loss) the bank gets the money to pay off your loan.
What deductible amount do you want. (50, 100, 250, 500, 1,000 or 2,000 are pretty common)
What they are going to do is look up the year make and model in their system to get a value for the unit. It doesn't matter if it's 10 years old, they are going to go by the MSRP of the unit. There system will assign it an "insurance number" where I worked it was called an IRG, or Insurance Rating Group. This tells them how much to charge your for the unit. Usually the lower the "IRG" the cheaper the cost of the insurance.
What's the difference between a Travel Trailer and Camping Trailer?
Travel Trailer - A trailer designed for use with a private passenger automobile and permanently equipped as living quarters. Travel Trailers are designed to be towed by a car, van or pickup by means of a bumper or frame hitch, the travel trailer provides all the comforts of home and is perfectly adaptable for weekend getaways or family vacations. (Like a 5th wheel or pull behind unit like a Fleetwood Prowler)
Camping Trailer - A trailer designed for use with a private passenger automobile which expands into temporary living quarters. These differ from travel trailers by their collapsed, low profile towing position. It also includes a trailer which is not equipped as living quarters, but which is used solely for camping and similar recreational purposes. (Like a Pop Up or Tent Camper) What type of Coverage do I get? You are basically purchasing physical damage coverage. You can usually purchase it with broadened collision coverage as well. Some companies offer it some do not. The one I worked for did offer it. The liability coverage is going to extend from the vehicle that is pulling the unit. So if you have State minimum limits on your truck that is pulling it that's all you have. If your driving down the road and it some how comes loose and smashes in to the car next to you, the liability from your car will pay for the damage done by the unit. It will not cover the damage done to the unit. That is where the physical damage comes in to play.
You would also want the physical damage coverage on your unit in case the unit was stolen, or damage by a storm, fire or lightning for example. It's just a good thing to have. If your going to spend the money on the unit you might as well protect it. The cost of the insurance depends on the age of the unit. We have a 1999 Fleetwood Prowler and I think we pay $180.00 for the year. which I don't think is to bad. So if you own one, make sure you check with your Insurance agent today to make sure your covered!
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