RV insurance specialty coverage is important, because le’s face it, an RV is a hybrid. It rolls down the highway, only to be parked and be a temporary home. From an insurance stand point this means we need to cover you not only while its being driven or in tow, but also when its parked. It also means that we need to insure all the cool things that make it livable.
Replacement Cost Personal Effects – Unlike an Auto policy an RV policy can provide coverage for your personal effects. This is an example of how an RV policy can kind of be like a home insurance policy. A traditional Auto policy isn’t going to cover you for personal property, rather, it tells you go get that coverage from your Homeowners policy. But in your RV you may have things to cook, clean, sleep, and live. Personal Effects coverage can cover all these things up to the limit on your policy in the event that then are damaged, destroyed, or stolen.
Attached Accessories – Coverage for Attached Accessories, including awnings, satellite dishes and TV antennas.
RV Road Service Insurance & Unlimited Towing – Provides sign-and-drive coverage 24 hours a day, 365 days a year. Includes battery jump starts, fuel delivery, flat tire change, lockout service, and winching and towing for mechanical or electrical breakdown. The amount you choose is the limit of coverage (the maximum payment from the insurance company).
Emergency Expense Coverage – Reimburses you for expenses incurred following an accident or other covered loss. Pays for hotels and transportation if your coach is incapacitated. Choose the dollar amount for maximum reimbursement.
Vacation Liability – So you have just finished, setting up your rig in a camp site, you have just put out your chairs so that you can sit and relax under the awning, when a neighbor, comes over, trips, falls, and breaks an arm. Where are you going to get covered? Vacation Liability. Vacation Liability covers losses resulting in injury, death, or property damage that includes in your motor home or travel trailer, or on your campsite.
Full-Timer RV Coverage – Are you living in your RV full-time. If you are you will want to purchase Full-Timer liability. This works like the personal liability coverage that is provided by a homeowners policy. Whereas the vacation liability works like premise liability, the Full-Timer Liability is much broader. Some companies will cover medical payments, loss assessment, and even contents in a storage unit. Full-Timer Coverage is designed for those that use their motor home or travel trailer for six or more months out of the year.
Mexico Physical Damage – If you are headed to Mexico, we can cover your RV for collision and other-than-collision while in Mexico.
RV Specific Loss Settlements – From total loss replacement, to purchase price guarantee, to agreed value we have RV specific loss settlements that will protect your RV in the best way possible.
Diminishing Deductible – For every loss free year you have, your deductible decreases. At within several years (depends on the carrier) you can have a situation that you would not have a deductible in the event of a loss.
Mexico Coverage – Covers your recreational vehicle for comprehensive and collision while you travel in Mexico, provided you maintain Mexico liability insurance during your entire trip.
Don’t settle for an Auto insurance policy, get the RV insurance specialty coverage you need! Request a quote through or website or call us today.
I recently went to go see “The Greatest Showman,” as one who is often found singing or whistling show tunes, I loved it. But the sound track is probably better than the Movie. A great mix of music with strong beats and base lines and violins coupled with distorted guitar, and great melodies. Followed by hopefully ballads. Anyway, there is a song that talks about the long-lasting idiom, “Walking a Tight Rope.” What does this have to do with Saving money on your insurance? Anymore Insurance companies know about your home or auto by running reports. They know if you have had losses, they know when your home was built, what materials, the size, etc., etc., etc. They know. So, there isn’t a lot of wiggle room on a lot. But there is when it comes to deductibles, but it’s a tight rope walk.
When you have a covered claim the insurance company will pay the amount of the loss, less the deductible.
So for example, if you have a $1,000 deductible on your auto, and have a fender bender that costs $2,000 to repair the insurance company will pay $1,000, it is your responsibility to pay the rest of the amount due to the auto repair shop.
On a home if you have $1,000 deductible, and a hail loss that requires you to replace your roof, if the cost is $10,000 to replace the roof, then you would be paid $9,000 and you would be responsible for paying the contractor the other $1,000.
So how is this a type rope? There is a inverse relationship between the cost of your insurance policy and your deductible. The higher the deductible the lower your rates. The lower your deductible the higher your rates.
So how is this a tight rope? Well, on one hand if you have a BIG loss you won’t want to be coming out of pocket to pay a large amount of the claim. On the other hand, if you have a small loss will you actually turn it into the company? Think about it, if it’s a $1,500 loss and you have a $1,000 deductible. The additional $500 dollars you get from the insurance company will cost you dearly once you lose your claims free discount. So what should your deductible be? That depends? Do you have cash on hand usually? Do you have the ability to cover small losses yourself? If so, then the answer is higher.
Once quick example to close. I recently helped a real estate investor get an insurance policy on a Manufactured Home he had purchased as a rental. As an investor he has cash on hand on a regular basis, and he knew the only time they would ever report a claim is if it was BIG. So we looked at the deductible. At a $1,000 deductible the rate was $1080 annually for this manufactured home. With a $2,500 deductible the rate was $817. With a $5,000 deductible the rate was $349. Wow! A 70% discount because of the deductible. Now he knows if there’s a loss he is probably covering it, but what he is most concerned about is a catastrophe, so he decided to go with a high deductible. But now you see, choosing your deductible is like walking a tight rope.
For questions on how to save money on your insurance policy, contact Gila Insurance Group. We’ll review your current policy or provide an insurance quote.
Do you have enough liability insurance? Probably not. But how much is enough? Unfortunately that question varies. First, what does liability insurance do? Liability insurance does two things: (1.) it pays for losses for which you become legally liable for as a result of a lawsuit and (2.) it pays to defend you in the event of a lawsuit.
So what can you become legally liable for? As a real estate investor you have some unique exposures. You have tenants, and, let’s face it, they probably don’t love you. Not because you’re a bad person, but because you represent a bill, and maybe a past due bill. You’re the proverbial “man” they are trying to stick it to. So you need to protect yourself, your assets, your business.
“It won’t happen to me.” Try this. Google how to sue your landlord and feast your eyes on the three million, yes, three million results.
The bottom-line is that if you get sued and are found liable you will be required to pay the judgment. How? That depends. If you have insurance, that would be first, then it goes to your assets, including cash, stocks, bonds, REAL ESTATE. Yes, you selling that investment property might do real well to pay off your judgment, and you’re out the asset and the cash flow. Beyond that, your wages from your J-O-B can be garnished. Liability is a serious thing.
Liability insurance isn’t expensive, it’s actually quite reasonable. So max out the limits on your policy, the marginal difference will be dollars. Then, consider an umbrella policy. An umbrella policy is a liability-only policy with some unique features which are pretty cool, but the important part is that it kicks in when you get sued for limits that are higher than a home insurance policy. For the limits you get, it is amazingly affordable. And if you have several investment properties you may have several million in real estate. Protect your investment(s) by making sure you have enough liability insurance!
Get covered today with an umbrella policy today! Start your quote immediately, but have what you need on hand!
Budget friendly insurance, that’s all we really want! No one wants to pay more than they have to for insurance, but the cheapest insurance isn’t always the best either. It’s a balance of getting the proper coverage at a price that fits into your family’s budget. Here are three ways to ensure you have found this balance.
- The best way to ensure your budget isn’t getting hijacked by insurance is to shop it on occasion. Gila Insurance Group LLC is an Independent Agent, meaning we represent multiple companies and can shop the market for you. So if you feel that you your insurance is too much, if it blows up your budget, let us know, and we will see what we can find.
- Do you have the coverage that you need? It’s the story of Goldilocks. You want the right coverage, but not too much or too little. A great place to save is to look is at your limits of coverage. The companies help determine the value of the home, and actually limit what can and can’t be changed, but outside of the home value there is often leeway. For example, what’s your deductible. Low deductibles are great, but if you had a $1,000 loss, would you even report it to your insurance company? Or would you fix it yourself? If so, your deductible might be too low. It really is a conversation that you need to have in your family, at what point would we ask the insurance company to pay a claim? Ask yourself, how is it affecting my budget? Maybe it is time to talk again.
- Is there anything that makes you look like a worse risk to the insurance company? Increasing your credit score with lower insurance costs in many states (not all), not having exotic pets or vicious dogs, and many other factors. Eliminating these factors can decrease your insurance cost and better fit your budget.
Let us help your budget, we have markets we can shop, we will have the conversations to help you determine what coverage you need, and will help you understand those risk factors that are increasing your costs to help you keep budget friendly insurance for your Manufactured Home. Contact Gila Insurance Group for an insurance review or insurance quote. We are here to help!
There are several different types of liability insurance coverage found on recreational vehicle insurance policies. Not only does the type of RV have an effect, but also how the recreational vehicle is used can make a difference in which liability coverage is offered.
For Motor home insurance policies, Bodily Injury Liability and Property Damage Liability coverage, like on an auto policy, will apply while the vehicle is in motion. However, these particular liability items will not be included on travel trailer, fifth wheel travel trailer, pop-up camper, or even slide-in camper insurance policies, since all these types of recreational vehicles are considered to be towed units and cannot actually be moved without a separate vehicle to tow them.
Motor home insurance policies will have some coverage available that is commonly included in traditional auto insurance policies. However, they often have some coverage items that one might expect to see included in a homeowners’ policy. This is because Recreational Vehicles are used for two distinct purposes. Some of the time recreational vehicles are used to travel from one point to another and other times they are used as a seasonal vacation residence, or for some, as a primary residence.
For most typical RV owners, those who use their RVs less than 30 days out of the year, Vacation Liability is usually offered with varying limits of coverage. This particular coverage works much like homeowners premise liability coverage does, offering protection should the insured be found responsible for either bodily injury to others and/or property damage to others, while the RV is not in motion and being used as a vacation residence.
Full Timers Liability is available for those RV owners who use their RV more than 150 days out of the year. This can apply to both Stationary Full Timers as well as Full Timers who are traveling. Full Timers Liability works pretty much like Vacation Liability, but will typically offer higher limits of coverage. Full Timers Liability is also a great fit for those people who use their RVs as their primary residence.
When shopping for RV insurance or Travel Trailer insurance, be sure to choose a carrier that specializes in recreational vehicle insurance. Many make the mistake of purchasing auto insurance policies for their recreational vehicles, which can provide the necessary coverage needed to drive the unit, but most often are missing important coverage that are needed while the unit is being used as a residence.
For more information about specialized Motor home insurance and Travel Trailer contact the RV Insurance Professionals at Gila Insurance Group LLC at 877-784-6787 or request a quote on our website.
This coverage explanation is for illustration purposes only and is general in nature. Coverage explained here may not apply to your policy, State, company, or situation. For more information about how your policy would respond in the event of a loss, please refer to the terms and conditions and declarations page of your policy.
Travel Trailers, Fifth Wheelers and Motorhomes are all classified as Recreational Vehicles, but there are differences in how the units are used, which also affects the coverage offered by RV insurance carriers.
When considering RV insurance, there are some key differences between a motorhome and a travel trailer or fifth wheel trailer. The main consideration is how the different types of units are moved from one point to another. While a motorhome has an engine and drive train that enables it to be moved on its own, travel trailers and fifth wheels require a separate vehicle to tow them from one location to another. This difference also affects some of the most basic coverage that is associated with recreational vehicle insurance policies. Motorhomes, because they are drivable units, require Bodily Injury and Property Damage Liability insurance coverage, while travel trailers and fifth wheel trailers do not.
Now, there may be some who are scratching their heads, wondering “…what is meant by Liability?” Simply stated, being liable means you are legally responsible for a debt. Whenever you are involved in a motor vehicle accident, the cost of treating injuries and repairing damages can often be very expensive. If it’s determined you are responsible for a vehicular accident, then you are indebted for the costs for medical treatment for injuries caused and to repair property damage done by your vehicle to other persons and/or vehicles. Purchasing Liability insurance not only satisfies most state’s requirement to register vehicles, but also helps to ensure that you are financially protected, in the event you are responsible for an accident.
Now that we have a better understanding of what Liability means, let’s get back to our original question: “why doesn’t a travel trailer policy include Bodily Injury and Property Damage Liability insurance coverage?” The easiest way to understand where the responsibility or liability falls is to think about where the driver sits while the vehicle is in motion. A Motorhome, because it moves under its own power, requires Bodily Injury and Property Damage Liability coverage. However, Travel Trailers and Fifth Wheel Trailers cannot be moved without the use of a tow vehicle, so the responsibility instead defaults to the vehicle that tows the trailed unit. So, if you are insuring a Travel Trailer or a Fifth Wheel, be sure to also consider the liability coverage limits associated with the vehicle you use to tow them. Looking for a quote or policy review? Contact us today.
This coverage explanation is for illustration purposes only and is general in nature. Coverage explained here may not apply to your policy, State, company, or situation. For more information about how your policy would respond in the event of a loss, please refer to the terms and conditions and declarations page of your policy.
STORIES FROM AN INSURANCE LAWYER PART 3
Have you ever had a tenant ask you to fix something one, twice? What about three times. Consider this story. Landlord, purchases rental property with older windows. Single pane, not super-efficient, but who want to replace the windows in your rental right away, right? Anyway, tenant complains to landlord, asking for double pane windows. This happens a couple of times. No action by the landlord. Now, we can argue whether or not this action is required of the landlord in any case, but it’s not material to the story. Tenant and her boyfriend are otherwise occupied. The tenant’s child, is playing by a two story window. Kid falls out of the window. Now, as I understand the story, Kid was okay, BUT the landlord gets sued. What? Yeah, it was a stretch, but the landlord got sued.
Basically, the tenant claimed that if the windows had been replaced then the child would not have fallen out of the window. Yeah, I am not sure how the new window somehow watches the kid and makes sure no one falls out the window, but I haven’t seen that model at my local Home Depot, but I digress. The suit went to court. In this case the Landlord won the case, and was not found negligent, BUT it begs two questions.
- Are you responding to your tenant’s request? The reason the case had any standing to begin with is that the tenant had made multiple requests that the windows be replaced.
- Defense costs, again a huge benefit of your insurance policy.
So, keep your property well-kept respond to these tenant requests, and be sure to purchase enough liability coverage. Start your landlord insurance quote online right now!
Landlord gets sued for a dog bite. For dog bite lessons please see “Why you should require your tenants to purchase renters insurance.” Landlord gets ticked at the lawsuit and the prospect of his insurance rates go up, squeezing his cash flow. Consequently, landlords decides to do a little investigative work. Simply because he believes the kid’s parents wanted him to fake the injury, and so the pain and suffering stuff would be hogwash. So, he has the kid followed, and gets sued.
Under what? Invasion of privacy. Question is, is that covered under your policy? The answer is that it depends. There are some companies that will offer personal injury coverage and there are others that don’t. On landlord policies the answer is probably not. Wait, what’s Personal injury? Personal injury is a broad term that covers several things. Most of them mental injury that we could cause to others. For example, defamation, libel, slander, false arrest or imprisonment, malicious prosecution, or invasion of privacy. Now you would never do anything like those types of things, right? Have you ever spoken negatively about a tenant? Have you ever bent the rules on your rights of a home inspection? Have you ever driven by just to see “what’s going on?” You get my point. It’s a fine line, and your tenant views you has the “rich landlord,” and there are plenty willing to take advantage of an opportunity. Not to defame any of your tenants, but you have probably had a tenant like that.
So, what can you do. Well, first off be aware, you might be just driving by, but the tenant might see that as a stifling landlord, or a weirdo, or you name it. Second, be sure you are covered. Not all insurance policies are the same. Do you have the coverage you need? Many landlord insurance policies specifically exclude personal injury liability, and I have yet to see a policy that automatically included an endorsement or “rider” that adds it automatically. In fact, it may simply not be available, in which case you would need to have a different risk management plan. Such as, stick to the lease in terms of inspections, don’t have your tenants followed, etc. That said, the question remains, what kind of coverage do you have? Take away? Contact your agent about personal injury coverage.