Features of full-timer insurance?

I'm new to RVUSA Forums and hope this hasn't been covered repeatedly/elsewhere:

When upgrading from basic RV insurance to "full-timer" insurance, what features need I be looking for in the policy?

One note: we've not sold our home and will hold onto it for awhile yet, so we do have home owners' insurance. Is this a factor?



Senior Member
Re: Features of full-timer insurance?

There are a lot of fulltimers on this forum. I am sure some of the will chime in as well. For now, I can only dream.
Re: Features of full-timer insurance?

I understand and agree with a lot of the conditions and cover offered and its kind of across the board where ever I go, however when we insured our caravan the insurers asked what the value of the unit was and based there premium on that value. The depreciation was never accounted for.

Some units may sell for $70k and more but in a year they are worth considerably less. Say in this instance the unit has depreciated by 12% and if you wanted to sell it or replace it then the cost would be $58,300 but your insurer will not pay out the $70 000 for which you have had the premium set one year earlier eventhough they may be charging as if it were still $70k - They will look in a trade manual and snip off a bit (In England is known as the 'arguing margin') and if all llights are green they will settle on that amount. You may disagree and then they use the Arguing Margin to top up their award to you but still keeping below the book pice at that time of $58 300. You effectively pay for your own loss.

We used to look up the trade prices every year and set a median price (its value as of now + 6 months later (guesstimate)) and that was the price we would set our valuation for our insurance premium for the RV unit.

I tried to find out from insurers what they would pay me if my RV disintegrated in the insured year on a sliding scale so I could insure for the appropriate amount - 7 companies were approached and not ONE of them would tell me. If we didnt review it every year and revalue then the insurers would pass on a minor discount for non claims which was a lot less than if we reappraised the RV's value every year and insured at that depreciated price.