RV INSURANCE: A QUICK PRIMER
A few quick words about insurance … when you buy the insurance you buy it from ‘agents’ and ‘brokers’, these monikers refer to two different business models for the sale of insurance products.
Both agents and brokers are commonly referred to as ‘producers’ and what do they produce? Policies, insurance policies.
The well-known national brands as detailed below operate by selling their brand of insurance products and they use ‘agents’ to sell those products and lines of insurance. Their agents only sell their brand and their product.
The next category of availability for insurance products is what is called an ‘intermediary’. The intermediary is an ‘independent agent’, and the terminology for them is also an ‘insurance broker’. They are not limited to a specific brand, line, or insurance product provider.
The ‘independent insurance agent or broker’ offers the same comparable insurance products, however, they are sourced from different insurance carriers, underwriters, and/or warehouse lines or providers of insurance products.
RV INSURANCE: NATIONAL BRANDS
National Brands are those very well-known names we see advertised constantly on the television, like the ones you see below. Competition is fierce and the commercials are humorous! The list below is a sampling of some of the well-known national brands.
Allstate / http://www.allstate.com/motor-home-insurance.aspx
Farmers / http://www.farmersrvinsurance.com/
Geico / https://www.geico.com/getaquote/rv/
State Farm / https://www.statefarm.com/
The Hartford / http://www.thehartford.com/aarp/recreational-vehicles/
Nationwide / http://www.nationwide.com/rv-insurance.jsp
Progressive / http://www.progressive.com/rv/
RV INSURANCE: RV INDUSTRY BRANDS
Good Sam / http://www.goodsamrvinsurance.com/
RV America / http://rvainsurance.com/
RV INSURANCE: INDEPENDENT AGENCIES/BROKERS
There are thousands and thousands of independent agencies and brokers to choose from. The bottom line is the coverage provided and the ‘rating’ of the insurance carrier, this is what matters with regard to any insurance product you buy.
The independent agent or broker can offer insurance products from A-rated insurance carriers. Ask them about it, they would be happy to explain this concept in more detail.
The more you know and understand about the quality and ratings of the insurance products your independent agent is offering, the better you feel about the protection and security your insurance policy is affording you because after all, we are buying peace of mind and security, even if the insurance policy is generally mandatory, insurance has always been about peace of mind, and the big bad ‘what if’.
In a way, ‘set it and forget’ applies to insurance just as much as your rotisserie oven … if you set the right coverages in place, then you can cross ‘worry’ off the list. You’ll be glad opted for those coverages if the big bad ‘what if’ does happen.
Your local agency may be able to provide you with RV Insurance, call them to inquire. What is truly important about whatever insurance policy you buy, notwithstanding who you buy it from, is, … the coverage and the rating of the carrier.
If you love your local agent, then work with them, just use the checklist below. It’s the notorious tagline from Sym’s a discount clothing retailer in the USA … “An educated consumer is our best customer” that tells the tale.
An educated RV insurance consumer understands that the coverage and benefits along with the rating of the carrier are what matters when purchasing an RV insurance policy, the next items in contention are customer service, professionalism, speedy claims service, and processing.
All of these things are a matter of trust and reputation, and third party reviews and testimonials certainly help a brand, agency, or broker earn and keep his or her clientele.
RV INSURANCE: WHAT TO LOOK FOR IN YOUR RV INSURANCE POLICY
Below you’ll find a quick list of coverages, features, and benefits to consider when purchasing RV insurance.
You will want to be aware of each of these categories/features/benefits/options when purchasing an RV Insurance policy, no matter who the agent, broker, intermediary, or underwriter is, … coverage is coverage.
If it’s not specified in the policy, it’s not covered.
It’s your decision about whether you want each and every one of these specific coverages and benefits or not, each one has a cost associated with it, and you need to decide if the cost is worth the coverage and/or the benefits you will receive if you ever have to make a claim.
If you want, and like the idea of ‘full coverage’ and the peace of mind it provides, then be sure your policy provides for each one of these categories of coverage and benefits.
If your agent or broker cannot offer an insurance product with these coverages, keep looking, a policy with these options does exist.
List of Coverages & Benefits to check for and compare in your proposed RV insurance policy:
Theft, Fire, Flood, Coverage?
Total Loss Replacement?
Personal Items Replacement?
Coverage for Full-time RV Users?
Emergency Expense Allowance?
It’s a good idea to know you have collision coverage before a major accident occurs, the same goes for theft, fire, flood, and liability, which means when you are at fault for any number of reasons, the insurance policy has you covered.
This Blog was posted by Coastal Breeze RV Resort in Rockport Texas