Insurance for high-end coaches

[ehochuli85]

I posted this on the general forum, but I figured this group would more likely have direct experience. We are looking for insurance coverage on our 2023 Newell on which we take delivery in 5 weeks. I've checked several sources, including Ron Jarvie, Melissa Thum, and various carriers listed in this forum, (Progressive, Foremost, and FMCA). Unfortunately, I've been unable to find a carrier that will insure an RV above $1M, leaving me about a million short. Does anyone have any other suggestions? I can't believe that Newell and Prevost owners self-insure their coaches for anything above $1M.

Thank you very much, Ed

 

[redbaron]

@CaptainGizmo any suggestions?

 

[sheridany]

The only carrier I know of that will write coverage more than $1mm is Pure or Lloyd’s of London. I have gotten quotes from both but they were very expensive. Pure wants all your insurance coverage to write coverage on a bus over $1mm.

 

[redbaron]

I didn't realize this problem existed. Seems like it would affect King Aire owners too

 

[ehochuli85]

True, as to Newmar's prices on the newer KAs.
Thanks for the info, Sheridan. So do folks just self-insure for everything over a million? Seems like a real big risk. Would anyone with a $2M sticks & bricks only insure it for $1M ?

 

[redbaron]

True, as to Newmar's prices on the newer KAs.
Thanks for the info, Sheridan. So do folks just self-insure for everything over a million? Seems like a real big risk. Would anyone with a $2M sticks & bricks only insure it for $1M ?

I wouldn't do it. I hadn't known this was an issue. Sounds like a Prevost conversion is officially off my bucket list.

 

[CaptainGizmo]

I’ll give you a call, Ed. Shame on you for not calling me first!

State Farm will cover you. One of the few who will!

Otherwise, you need to have a “split policy”.

 

[redbaron]

I’ll give you a call, Ed. Shame on you for not calling me first!

State Farm will cover you. One of the few who will!

Otherwise, you need to have a “split policy”.

Ok, you saved my bucket list. I am a state farm customer for most items.

Explain a split policy to me and those that dream of a Prevost conversion

 

[Neal]

Calling prevents others from learning, using this forum is a great source of sharing the knowledge for others traveling this road in the future.

 

[CaptainGizmo]

Calling prevents others from learning, using this forum is a great source of sharing the knowledge for others traveling this road in the future.

True…you know me, Neal; always wanting to share knowledge. The insurance topic, OTOH, is one of those thumbtacks I try to avoid since so many get completely emotional on their answers instead of applying reasoning.

I also hate the “who’s the cheapest” banter as well; I can’t believe anyone engages in that silly question since everyone should know by now that one size doesn’t fit all when it comes to insurance

That’s kinda why I wanted to speak offline.

So, I’m answer to @redbaron, Ronnie, companies are fleeing the high value motorhome market. My agent doesn’t tinker why, but can make guesses that he says would take up pages.
So, some folks are resorting to carrying two separate policies in order to cover their $2M Coach.
Seems kinda crazy but I know a guy who does that through Safeco. You’d think that a company would simply say “Ok, but it’s gonna cost ya, rather than have a client with two policies for the same asset.”

I know the audience is very small, here, in terms of the 1M+ liability problem. So, fakebook is gonna be the biggest resource for finding other’s experiences.

It’s not a pretty sight, though, because I just helped another gent in Nevada get insured and he’s a happy camper…especially after saving $3k on his coach and 2 car auto bundle!