We all agree that having RV insurance is a good idea. You never know what dangers await when traveling down the road. A tire suddenly goes flat. You hit a giant pothole. Another car attempts to cut in front of you and, just like that, you’re calling your insurance company! Honestly, who could relax if they traveled without insurance? Not me!
So, you bring the rig home. You winterize it and take it to storage. Then you get out your checkbook and get ready to pay monthly fees on an RV you don’t even use. Should you keep paying for RV insurance on a rig that simply sits for months at a time? Does that make financial sense? Maybe you store your camper in your own backyard. Is it safe to drop insurance if the rig sits there, unused, for up to half the year? These are questions many RVers wonder – especially as the summer camping season comes to an end.
Things to consider
First, if you are making payments on your rig, you may not have a choice about retaining year-round insurance. The bank or lending institution will likely demand it until the rig is fully paid off. Check with your lending company as well as your insurance agent.
If you own your RV free and clear, you will want to consider potential dangers to your camper, even when it’s in a secure storage lot. While theft from a storage facility is rare, it does happen. So do fires and acts of nature. Often RVs are parked together side-by-side with very little room between the units. Your “storage neighbor” may accidentally bump your rig while maneuvering their boat or RV in or out of its storage spot. This is classified as “collision,” and without insurance, you may be on the hook for repairs.
You may think that storing your RV in the backyard means you can drop insurance for the months your family doesn’t use the rig. Not so fast! Wind, hail, and other inclement weather can damage your RV, and (you guessed it) the repairs are all on you if you’ve dropped insurance coverage for the winter.
Reduced insurance?
Some insurance companies offer a reduced rate for off-season months. It’s a good idea to closely check any reduced coverage policy. Talk to several insurance agents, too. Be sure you understand exactly what the reduced policy covers, as well as what is not included.
We’ve decided to keep full-year coverage on our RV fiver. At least for now. What about you? Tell us in the comments below.
Related:
Buying RV insurance: Sort out the terms, part 1
Buying RV insurance: Sort out the terms, part 2
##RVDT1695
Oh to post a picture. Last winter a large tree limb (400 to 500 pounds) fell on our travel trailer. Roof Repair was 10K. Insurance covered it and I am thankful. I would never cut back in storage, you never know what can happen.
But did that fall under collision or comprehensive? They are different.
I have Progressive Insurance and they allow me to take the comprehensive insurance off the motorhome is covered at my house.
Easy process, I just email my agent and it is done.
Saves a bunch of money.
I have the Hartford insurance and the charge for it includes a reduced rate as they consider that it will not be driven as much. Great insurance customer service.
We suspend our coverage when not driving. The suspension only takes away the liability coverage, all other coverage stays in effect. It’s saved us a great deal of money over the years and it was our agent who made us aware of it. We’ve even done it with cars when we were traveling and knew the cars would be in our garage not being driven.
I have room to winter my class c at home, outside, behind modest gates, and on pavement. I reduce my insurance to liability for the duration. Good topic.
I built a 30×50 rv garage on my 2 1/2 acre lot and have permission from my lender to reduce my Geico rv insurance down to only include comprehensive. We therefore store our 2013 Phaeton 42LH from early October to mid May of the following year. This feature drastically reduces our premium by over 60%.
Just a word to the wise. I park my Class C in a covered but open facility that’s surrounded by fencing topped with razor wire — fully enclosed perimeter — and a personal code to get in the gate. Last winter my catalytic converter was cut out of my exhaust while in storage there (through no fault of the facility). Nevertheless, my insurance paid close to $700 and I paid $500 to get it up and running again with a new exhaust pipe and catalytic converter. Note: Unless you’re deaf, DON’T operate your MH any more than absolutely necessary without the “cat-con” as the pros call it. Deafening — and illegal to drive in that condition in some states. So I had it towed for an additional $300. So just ask yourself if you’re willing to pay that kind of cost out-of-pocket by not continuing your fully insured coverage. It’s also not fun waiting several weeks to get appointments for this stuff.
You have to be very well off or crazy not to cover your RV with insurance while in storage. Reading the comments reveals some insurance companies don’t allow reduced coverage and apparently some states require coverage year round if it’s registered. I’ve only been affiliated with top name brand insurance companies but I’ve always been able to reduce coverage to comprehensive for the storage times. Now that we are retired we don’t have storage issues as we travel year round following the warmer temperatures. We are not full timers we just never stay anywhere more than a couple months before we are going somewhere even in the summer when the grass needs mowing once a week we still go for a week of vacation. I had Progressive of Hawaii through Good Sam for about 2 months until I found my Farmers insurance on our car would be cheaper, dropped Progressive and never looked back. They spend a lot of money advertising but don’t give you much in return. Just my opinion!
What happens if you need your RV in the middle of the winter and can’t get a hold of your agent. I want my RV ready to hit the road on a moments notice. I have been offered this many times but the small savings isn’t worth it
We insure our fifth wheel with National General Insurance Company which allows us to keep liability insurance on it while in storage during the winter months. That saves us a substantial amount each year.
Just liability insurance when in storage?
Do you think your camper is going to fall on someone causing a liability claim?
Maybe you mean “Comprehensive Insurance ” (theft, act of God damage) and/or “Collision Insurance” (pays for damage you cause to the camper in an accident).
Liability insurance for a trailer is typically provided as an extension from the vehicle liability insurance coverage of the tow vehicle.
Suggest you look again at your coverage during storage as what YOU describe as “Liability Insurance” when in storage makes no “Cents”.
Yes I am a licensed insurance broker.
I leave only comprehensive insurance on my class A while in storage.
Ours is a Class C, so it’s a motor vehicle. The state requires insurance to keep it tagged. The article makes me wonder if it is different for a trailer. Also, our insurance agent is great and I’m sure she would tell us about a reduced rate for seasonal use. Regardless I don’t think I would want to be without insurance in any circumstance. The limited coverage probably isn’t worth the risk.
Interesting article another thing to be aware of is that All 3 storage facilities where we have stored our RV required us to provide proof of insurance.
Going in my Barn and I will drop progressive as they don’t offer comprehensive only. Home owners covers the barn and contents so I am fine with that.
I’d check with the insurance company and see if They’d cover the RV in the barn if it has a valid licenses/registration.
Better check your insurance contract “Policy Exclusions” section again as the trailer itself is an “Insurable Asset”. Just because it is parked in the burning barn does NOT necessarily mean your trailer will be covered under the “Contents” portion of the policy you have on the barn.
Amica would would let me put my class c in,(layup mode) comprehensive stayed active but road liability was not. Reduced the premium quite a bit for those months of no use. Progressive for my class A doesn’t offer that service. So high cost year round. Better safe then sorry.
We have Amica. Thanks for this.
In my backyard and insured all year