AN INSURANCE PRIMER
A few quick words about insurance … when you buy 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.
National Brands are those very well-known names we see advertised constantly on the telly, 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 INDUSTRY BRANDS
- Good Sam / http://www.goodsamrvinsurance.com/
- RV America / http://rvainsurance.com/
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 offfer insurance products from A-rated insurance carriers.
- Gilbert Insurance Agency / https://www.gilbertrvinsurance.com/
- International Insurance Group, Inc. / http://www.rvinsurancepro.com/
- National General Insurance Marketing, Inc. / http://rvinsurance.com/
YOUR LOCAL AGENCY/BROKER
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, nothwithstanding who you buy it from, is, … the coverage.
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 … “An educated consumer is our best customer.”
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.
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?
- Collision Coverage?
- Liability Coverage?
- Total Loss Replacement?
- Personal Items Replacement?
- Accessories Coverage?
- Coverage for Full-time RV Users?
- Emergency Expense Allowance?
- Roadside Assistance?
A HELPFUL WORKSHEET WHEN COMPARISON SHOPPING FOR RV INSURANCE
We’ve put together this simple, helpful worksheet for RV insurance comparison shopping. When you get three or four RV insurance quotes, compare them category by category to help make your buying decision.
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.
Download either file or both files below, by right-clicking the link, then choosing the option to ‘Save Link As’, then you save the file wherever you like on your computer.
- This file link is for an MS Excel 2007 file format … you can manipulate and change the worksheet to your liking if you can operate MS Excel … http://the-rv-life.com/wp-content/uploads/RV_Insurance_-_Comparison_Worksheet.xlsx
- This file link is for a .pdf file format … this file is best printed on legal-sized paper, landscape setting. If you need to print on letter-sized paper, you can still get by, just slice or fold the edge of one page and tape the two pages together! … http://the-rv-life.com/wp-content/uploads/RV_Insurance_-_Comparison_Worksheet.pdf.