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RV Insurance "Replacement Cost" Value When Going Full-Time
I am probably going full-time in about four weeks. I wanted to do this since about two years - now it is finally happening. I know it's a strange time to do this, but I think it will turn out ok.

This thread is about the best possible insurance for my RV.

Right now I'm insured with Geico. I called Geico earlier today and asked about my premium when going full-time. It will be around $330 for 6 months (liability, comprehensive, collision, emergency road service, RV medical [$1k], emergency expense [$1k], replacement cost personal effects [$5k], etc.).

The bad part of this is that the rig is only insured for the book value of around $12,000 - and I would like to have this at at least $25,000, if possible even higher. This will be my home, and my home is worth more than $12,000.

I then called Good Sam because I had heard that they insure RVs for full-timers for higher values. However, they told me they don't, at least not for a 2001 vehicle. (In that case I would not want to change my insurance. I have had all my vehicles since 25 years insured with Geico and had only positive experiences with them. )

Are there other possibilities to get my beloved Lazy Daze insured for a higher value than just $12,000?

When we have sorted out that question I would also like to talk about emergency road service. However, for now I would like to keep this about the actual vehicle insurance, especially the value for comprehensive and collision coverage. I also would like for now keep everything around going full-time at this time out of the discussion - thanks.

Thanks for you tips and information!

Klaus
2001 26.5 Mid-Bath
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #1 –
Klaus, you might want to look into Coach Net for emergency road service.

'Full replacement value' means one thing to the owner and another to an insurer; you might want to check out the information at these links, but if you prefer to stay with Geico, I believe that you will have to accept their restrictions on 'full value replacement'.

RV Insurance - Understanding the Coverages
------
https://nationalgeneral.com/learning-center/vehicle-insurance/selecting-coverage-rv.asp

RV Total Loss Replacement | RV America Insurance

RV Insurance Coverages for Motorhomes & Travel Trailers | Progressive
2003 TK has a new home
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #2 –
After some more research it seems that it is more or less impossible to insure my 2001 Lazy Daze for a higher "stated value"  that comes close to its actual value (its current NADA value is $11,000-$13,000).

RV America Insurance offers insurance with a "stated value" (instead of the NADA value)  for RVs that are not older than 5 years. That sounds similar to Good Sam. Not applicable to me.

Progressive also takes the NADA value as base value and is in principal willing to increase that value if one can proof (i.e. with receipts of additional equipment) that a vehicle has a higher value of the NADA value. Progressive does not take i.e. real world dealer asking prices into consideration - only the NADA value. The only equipment that I could use here is my solar power installation which could possibly - if all receipts are being accepted - increase the value by around $3,000.

Is there anybody here with an older Lazy Daze who got it actually insured for a more realistic "stated value" than the NADA value?

Klaus
2001 26.5 Mid-Bath
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #3 –
"...it seems that it is more or less impossible to insure my 2001 Lazy Daze for a higher "stated value"  that comes close to its actual value (its current NADA value is $11,000-$13,000)."
----
'Actual value' can be a moving target, but, essentially, a rig's 'actual value' is what someone is willing to pay for it, not what an owner assesses its worth to be.  That said, insurers go by 'tables' to assess value, and the tables have pretty narrow parameters. So, even if a buyer might pay more than the 'stated value' for a rig,  an insurer will lowball as much as the tables will allow; very little wiggle room in the bean counter world.  ;) 

JMHO, but if you've had good service with Geico, and your research tells you that no other insurer offers more coverage and equal service for less money, I'd stick with a known provider.
2003 TK has a new home
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #4 –
Quote from: Joan  - 
... if you've had good service with Geico, and your research tells you that no other insurer offers more coverage and equal service for less money, I'd stick with a known provider.
My thinking, too.

I had excellent service with Geico, including some "incidents," over the last 25 years.

... with one exception, and that is the road side assistance for the RV. I once needed a jump start late at night, and they refused to send someone with the idiotic reason that it would be too difficult to find someone who could do it for a Ford V10 engine. I call that idiotic because I later bought a lithium-ion jump starter for $80 which is very well able to start my rig, and I'm sure that any road side assistance service does this these days with such devices.

Quote
... you might want to look into Coach Net for emergency road service.
I guess that's the service to use, especially when full-timing (which I will do soon). They seem truly to deliver when needed. Is it still correct that it costs $250 for the first year and somewhat less for following years?

Klaus

2001 26.5 Mid-Bath
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #5 –
Coach Net has various packages (check carefully for service duplication/'upsell'), but its 24/7 coverage is $249.00 for new subscribers.

The best in RV roadside assistance | Carefree RVing | Coach-Net

I've had the service for several years, but fortunately, have not had to use it, so I can't comment on the efficiency of the service. However, I consider the subscription to be part of the 'cost of doing business', and would not go down the road without it.
2003 TK has a new home
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #6 –
I just got a call from AMICA, our insurer last week. I had our LD (99 MB), insured for $12,000. They told me that the NADA value was $10,000 and would I want to reduce my coverage? I declined and they're keeping it at the higher figure.
George & Jo Ann
2017 MB
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #7 –
I don't know if someone would let you just state a price (though we did do that with a house decades ago).
There is current scams of people selling their phones and then putting in a lost claim to get the insurance, so I think insurance gets more leery now.

We had a loss (not RV) last year and had replacement coverage on it.  We are with State Farm.
The process was actually very easy, we found the same product and who was selling it and they paid what they considered the cash value (e.g. depreciated for age of item), and when we bought the replacement item and submitted it they gave us the remainder of the cost.  
We didn't have to shop around for the lowest priced item somewhere, we just went to someplace like Amazon, Cabellas, Home Depot and gave the price there.  We didn't have to provide documentation showing we had owned the items, etc.

We had to submit the information first (all items detailed out and what price we found it for, when we bought it - best guess sometimes, condition, and if it was no longer available I let them know I found a like kind substitute).  One State Farm person did originally review the items and reset some of the pricing, but their prices were way off (way to high in some cases and way to low in others). I called up, another rep looked at it and said no, that is not right and basically approved us for everything we had submitted.

But for your RV, because it is one larger priced item, I would fully document the quality of your rig (e.g. what original parts were replaced and with what, any upgrades/update done, information on the condition including pictures or maybe an inspection by an unbiased person - e.g. showing it is leak proof, the mileage, the condition inside and outside, etc.).  If they can't find one available to buy that was comparable, they should pay for the upgrades to be installed for you to create an RV like the one you lost.

Jane
Jane & Scott
Currently have a 1989 TK  LD we did a lot of upgrades on.
Bigfoot 25RQ Twin on order with early summer 2024 ETA

Our smartphone autocorrects into very poor English.
 We disclaim the illusion of ignorance this creates as we have enough ignorance we rightly claim.
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #8 –
Re: Coachnet pricing. There exists a second level of service at substantially lower price. Whether it is a grandfathered deal or not I can’t say. We’ve been covered with them for 13 years. The “Premium” pricing that Joan mentioned is correct, and that is all you will find on Coachnet’s website. That Premium package covers all of your vehicles, RV, cars, motorcycles. We always have opted, however, for the “Standard” package which only covers your RV. We renewed this package last week for $99 a year.  The services provided are virtually the same, save for a few junk benefits that we weren’t interested in.  I would recommend  trying to call Coachnet and ask about the Standard RV-only package. Worth a shot. — Jon
(Former) ‘06 TK “Albatross.” And (former) Vespa 250.   Alas, no more; both are gone.😕 Great memories remain! 😄
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #9 –
Jon, I also pay $99 per year for the standard coverage. I *think* this price applies only to current policy holders, and new subscribers  pay the higher price,  but I’m not sure. I just renewed at the $99 yearly cost, but didn’t see this price available for new subscribers. ( But, I didn’t look, either.) definitely worth  checking out the pricing levels if one us a new subscriber!
2003 TK has a new home
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #10 –
I just looked at Coach Net's website again; pretty much 'round and round the barn' as far as finding specific plan prices!  And, it appears that some plan offerings overlap and/or duplicate each other. :o  I agree with Jon's advice that new subscriber call 877-801-0333 and talk to a customer service rep before signing up for something that may not be what one wants/needs!

Also, one might want to check out the road service plan offered through Escapees (SKP membership required):

Escapees Roadside Assistance · Escapees RV Club



2003 TK has a new home
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #11 –
Quote from: George Kaplan  - 
I just got a call from AMICA, our insurer last week. I had our LD (99 MB), insured for $12,000. They told me that the NADA value was $10,000 and would I want to reduce my coverage? I declined and they're keeping it at the higher figure.

I would check. If they decide your RV is worth $10k based on comparables, I'd be surprised if they gave you $12k for it, even if that is the policy ceiling.

Steve
2004 FL
2013 Honda Fit
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #12 –
Quote from: Joan  - 
Also, one might want to check out the road service plan offered through Escapees (SKP membership required):
Escapees Roadside Assistance · Escapees RV Club
That's great information (about which I had completely forgotten). A quick look at Escapees' roadside assistance plan makes me - for now - believe that they offer for $99 pretty much the same as CoachNet for $249.

Since I'm anyway an Escapees member I will probably go with them and save $150, at least for as long as I only want the RV covered by such an insurance.

For people with several vehicles CoachNet might be better as all vehicles are included. When I talked to them they also confirmed to me that the price goes down for renewal years (but I did not ask to what amount).

Klaus
2001 26.5 Mid-Bath
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #13 –
‘Re-ups’ for Coach Net basic service subscribers are $99.00 per year.
2003 TK has a new home
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #14 –
This discussion has been going on for over a year now... I'd be very careful of the Escapees Roadside Assistance program. 
FYI -- Escapees Roadside Assistance - Page 5 - General RV Information - Escapees...

Their program isn't even close to that from Coach Net, especially to cover all your vehicles -- or two things that have a place for a bed.  Especially read the experiences of those with 5th wheels.
1997 MB
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #15 –
Quote from: Kristin Lambert  - 
I'd be very careful of the Escapees Roadside Assistance program. 
Another piece of valuable information - and tilting the decision possibly back to CoachNet.

Klaus
2001 26.5 Mid-Bath
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #16 –
Quote from: Kristin Lambert  - 
... I'd be very careful of the Escapees Roadside Assistance program. 

In my research this week, post said (I didn't conform this) that Escapees and FMCA use the same roadside assistance dispatchers.  One person said it was VAS (I think I got the letters right :( ) who used Agero.  Having had an issue with Agero recently (and researched them and the tow company they sent), I would not touch anyone who uses that company with a 100' pole. Yelp ratings on Agero

Coach-net (and AAA at least decades ago last I had them), does their own contracts with the tow companies and dispatchers so they control quality better.  Costs more, better service.

We just got Coach-net.

I just did a post on insurance (fulltimers) on this thread Log in
Jane
Jane & Scott
Currently have a 1989 TK  LD we did a lot of upgrades on.
Bigfoot 25RQ Twin on order with early summer 2024 ETA

Our smartphone autocorrects into very poor English.
 We disclaim the illusion of ignorance this creates as we have enough ignorance we rightly claim.
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #17 –
Cavate:
I know very little regarding vehicle insurance other than attempting to shop competitive pricing and service.  I am not an Insurance Agent and hold no financial benefit by providing this suggestion. 

Farmers Insurance, Grand Rapids, Michigan - PO Box 2450 49501

Our 2010 RB is insured for a Cash Value of $60,700.00, less $1,000.00 deductible. 

Annual Premium $960.00 and includes Towing up to $250.00 per occurrence.  And the usual coverages on all the other stuff.

My wife and I have excellent driving records and credit if that makes any difference.  Multi-vehicle and home owners also with them.

We are NOT full timing.

The initial quoted premium was about $175.00 less with the original stated LD Value, (don't recall the original $) but premium increased to the above amount with my request that the cash value be $60K (-+).

Farmers Ins. seems to be very aggressive for new business, and contrary to many other agencies their underwriting policies seem to be fairly liberal........ (can I say that?) 

Farmers Ins. is an insurance company that I would not have thought about, but they have an office very close to our home. 

So Klaus, its a thought for you to inquire and perhaps obtain an additional quote. 

Most respectfully, and the best of luck on your future full timing.  Keep us posted.

Tony R. (aka codefour)


Tony R
2010 LD RB - Sold to another happy LD Family
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #19 –
What people don't get about insurance is that Brand X in one state will probably not cost the same in another state. It might not even be offered. If you think that someone has a good deal, don't expect to get a like deal in another state.
Don & Dorothy
Sold our LD in June of 2023

Our boring always non-PC travel blog
Traveling Dorothy
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #20 –
"Brand X in one state will probably not cost the same in another state.
---
Coverage costs vary among providers, by amounts, types, and limitations of coverages, by the location of the insured vehicle(s), value of the insured vehicle(s), driving records of the insured, and whatever else the provider factors into the equation. What one person pays in one place for whatever coverage is not going to be the same as what another will pay, even for very similar coverage from the same insurer. Each person needs to research the best coverage, including records for the provider's claim service, for his/her specific situation.
2003 TK has a new home
 
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #22 –
Quote from: Jim & Gayle  - 
Don and Joan have it exactly right. Rates can vary down to the zip code. In addition, they may look at your credit report and they use another source known as CLUE. CLUE (Comprehensive Loss Underwriting Exchange) | Washington state Office of...

Jim
I requested this report after Jim posted about it several years ago. The CLUE report appeared to be accurate, showing a minor claim, but it also showed a claim for hail damage (new roof) on our home. I was surprised that claim was on the report and don't know what that had to do with vehicle insurance.

Chris
Formerly: 2002 30' IB
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #23 –
"(Actual Cash Value - ACV translated means "What its worth in cash, today (just before you crashed it)."

I just reviewed my policy and that is what I have.

I suspect that if I crash "Ms. Daisy" today a total loss would be significant  vs. what I actually paid for the LD.

Never thought about this before. 

Dang LDOG makes you think outside the box.

Thanks gang!

Tony R (aka codefour)

Tony R
2010 LD RB - Sold to another happy LD Family
Re: RV Insurance "Replacement Cost" Value When Going Full-Time
Reply #24 –
Quote from: Chris Horst  - 
I requested this report after Jim posted about it several years ago. The CLUE report appeared to be accurate, showing a minor claim, but it also showed a claim for hail damage (new roof) on our home. I was surprised that claim was on the report and don't know what that had to do with vehicle insurance.

Chris

While I never worked in underwriting I can say that all of that information is about evaluating risk which is the job of an underwriter. https://www.investopedia.com/terms/i/insurance-underwriter.asp#:~:text=What%20Is%20an%20Insurance%20Underwriter,to%20pay%20a%20potential%20risk.

Jim