I've asked several insurance agents this question:

What is "personal property"? If something isn't "part of the RV" -- wasn't on the build sheet or added as an option by the dealer -- then most agents say this is "personal property". Fine so far...

Then I give an example: Four large solar panels that cost a total of $2400 and are temporarily attached to the roof. Is this "personal property"? Now the answers get vague and conflicting.

This is especially important for fulltimers who own older RV's. Our personal property makes up a larger percentage of the total value of everything we own.

How is this viewed by Aon?

Mac

Hi Mac,

You may be receiving conflicting answers due to the fact that each insurance company may look at this differently.

Generally speaking though, if the equipment is attached to the RV than it is considered special equipment. However, to make things more confusing, not all carriers offer special equipment coverage.

The best suggestion I can offer you is to give our office a call at 800-521-2942 and we can make sure you have the proper coverage that you and your RV need.

Thanks!

Thanks for the answer Candy. Some follow up questions/comments.

I've never been told about "special equipment" coverage. Is that something that would be itemized as a separate charge like "collision", "personal property", etc?

Assuming I get the right coverage from Aon, will I be able to get something "in writing" that assures me that things like my solar panels will be valued separately from the RV itself?

I've asked agents before if I can give them a list of items that I own and get their company to tell me in writing under what part of my policy those items are covered. The two main items are the solar panels, and the Datastorm internet system.

My current insurer has told me verbally these are "personal property" but they wouldn't give me anything writen. That doesn't give me much assurance.

Mac

quote:

I've asked agents before if I can give them a list of items that I own and get their company to tell me in writing under what part of my policy those items are covered. The two main items are the solar panels, and the Datastorm internet system.

I just renewed my policy with National Interstate this month. To have coverage on the above items, I just had to send them a copy of the invoices for the solar and Sat system to have them covered. But if you don't give them the information - no coverage! Check with your insurance company for their specific rules.

I am insured with National Interstate through Aon and I did the same thing. I bought my present motorhome in 2005 and I installed solar panels, a washer and dryer, a Surge Guard and AGM batteries. I made copies of the receipts and mailed them to Aon to be included in my coverage. Of course, my premium increased, but I'm covered.

On the personal property coverage I added $20,000 to the base coverage. Being a fulltimer the cost of stuff we carry in the motorhome can mount up in a hurry.

Now that's exactly what I want to do StarDreamers and Norm.

I already have enough personal property coverage ($15,000 I believe) but I just want the insurance company to acknowledge that I have these items, and that they're covered for replacement cost.

Sounds like I need to call Aon. To be fair, I'll also call my current insurer and spell this out for them to see if I can get my posessions "on the record".

Mac

Mac,
Personal property and contents are essentially the same thing to my understanding. Replacement value for these things and prorated are a trick used to stay away from "priceless" issues. For example a photo from 75 years ago that cannot be replaced as an extreme example.

First off you can only claim making a copy of that photo, not make a claim of family heirloom.

Having said that, we have over $20k worth of CDs from our DJ days. For personal property I assessed the value at 10 bucks each despite the fact that I paid 5 bucks for some, and more than 12 bucks for others.

I cannot make a claim for music no longer in print beyond my conservative valuation of 10 bucks each. But for the replacement value at 10 bucks each I could replace everything even if some of that involves time to find out of print CDs.

Ok enuff of the example.

My take is that I do not insure what I cannot replace or can protect personally. It has saved me tens of thousands in my lifetime on just car insurance.

I pay cash for my vehicles, and have only paid liability insurance to include enough if I mess up and need a lot of medical for the others.

You see I am retired military and my wife is covered as I am for medical. So that coverage is at minimum. We are not big socializers and rarely have anybody riding in our vehicles with us. I have not had any wreck, that was my fault in my lifetime. Examples are folks who hit my parked vehicles due to ice etc three times in my lifetime. Yes I said parked. I wasn't even in them at the time of the accidents.

My stance is that if I cannot afford to drive defensively and replace any vehicle at any time, then I cannot afford to drive it.

My savings on finance charges alone over 40 years paid for every vehicle I have owned. Not to mention my savings by paying cash and having liability only in my teens and early 20's.

Sure a strange perspective for many.

But I bought and restored vehicles for me instead of buying ready made. And they had intrinsic collector's value. So when I was ready to build another I'd buy the new one, biuld/restore it, then sell my old one, usually less than three months since I finished it in my younger days, and quadruple my money not counting labor as my labor was stress relief on the weekends.

My point is this. Decide what you have control over, and fires etc. are not what you can control.

Insure your contents for replacement value not prorated, and make the choices there wisely.

Replacing a 300 buck vacuum sealer that you never used past the first month is not a wise choice. You lose it, but don't need it. So don't insure it for replacement value.

Hope that helps.

This insurance stuff bugs me.

I have substantial additional personal property in my rig over what AON "allows" (more accurately, what the underwriter allows). Last I checked, I could not raise my personal property above their 12K (I think - but in that neighborhood) "standard" limit. They did figure out a way to double that. I'm happy to pay for the increase - I don't want something for nothing.

One of the things that bugs me is the add-ons. They want receipts for everything. Who has receipts for solar panels I bought 6 years ago and moved from another rig? I've been told that pictures are not acceptable. Why can't I just declare a value for my contents - pay for that value - and be done with it. We used to be able to do just that. I have National Interstate (Texan). Have things changed? Would I be better off being a SD resident?

Jack, that bugs me too.

My current insurer only wanted to give me $9,000 (I think) personal property back in 2004 when we started out. I told them that was just not enough, and they took a day to get someone higher up to approve what I now have.

It's not like I'm getting something for nothing, I'm paying for it!

RV; I also chose "replacement cost" coverage because I need to "replace" it I don't have that much CCC to be toting around stuff I never use

If they charge per $1000 (or whatever increment) then what's the big deal? If I have $30k of "stuff", and can demonstrate that I do, why can't they just multiply 30 X whatever the rate per thousand, let me pay that, and we're done.

To compare with another type of insurance; if I wanted to buy $100k of life insurance or $1 Million, they'd just bill me the appropriate rate without all the hassle.

If we lost everything we own, we'd be lucky if they gave us $20k on the RV itself. That's why I'm so concerned about things like the solar panels and Datastorm being classified as "personal property" or "contents". They're clearly not a part of this old RV. If I sold it, they'd come off!

Mac

I have National Interstate insurance through Aon and I added $20,000 personal contents coverage to the small amount that was standard on my policy.

My solar panels, solar controller, Whirlpool washer and dryer, Surge Guard and AGM batteries were added to the value of my motorhome as those items are "installed" on the motorhome.

I have full replacement coverage on the motorhome for the first five years. So if my 2005 Dutch Star is totaled in 2010 I will get a 2010 Dutch Star with solar panels, washer and dryer, etc. After five years if my motorhome is totaled I will get the price I paid for it plus the cost of the items I installed.

quote:

After five years if my motorhome is totaled I will get the price I paid for it plus the cost of the items I installed.

Really? I thought the way that worked would be that you would get depreciated value. I specifically tried to get replacement value on mine and could not. National Interstate.

Jack, I have full replacement value on my Volvo based on what I paid for it plus the additions I claimed "no receipts needed for the upgrades/additions" through Progressive.

I'm not sure how long they will continue to offer me that coverage but they have since I purchased the truck.

I do know the purchase price coverage had to be taken out within a certain time frame after the truck was purchased or you would loose that option.

EDIT:

This info is directly from Farm & City's web site.

1. Replacement of a new RV for an old RV in the event of total loss for the first five model years.

Or, in my case since I purchased a used truck.

2. Purchase price guaranteed with no depreciation for as long as you own the unit.


After thinking about it more, I believe you have three years from the date of purchase on a used truck with F&C to qualify for the Purchase Price Guarantee coverage so that would be one drawback too changing insurance providers once you own a truck for more than three years...

This message has been edited. Last edited by: 5th_Wheeler,

quote:

Originally posted by Jack Mayer:
[Really? I thought the way that worked would be that you would get depreciated value. I specifically tried to get replacement value on mine and could not. National Interstate.

Jack, that is what my policy says and it states the dollar amount I will get for a totaled motorhome after its five year old and older. It is the dollar amount I paid for it plus the upgrades I did. I think the policy with full replacement coverage and dollar amount coverage has to be purchased before the RV is one year old.

BTW,
This thread has been a good reminder to me that I haven't done my videotaped inventory of my "stuff" since coming off the road. Being the lazy type I always video'd my "stuff" with close ups of the backs with serial and model numbers. My CDs and software are on a music database, and my software is on a Word inventory. But I haven't made a video in awhile for insurance purposes, and need to get a "Round Tuit." Nor stored the old ones at another family house.

Having had my rig totaled by a repair shop back in 1999, I did get compensation for every improvement and replacement I made since purchase which included things like the new fridge, furnishings, computer desk area, etc. We did have to furnish receipts and fortunately had them with us. Had it been a fire we would not have been so fortunate. That was with USAA insurance, and I have since been told other insurers don't make it as pain free.

I did not have replacement insurance on the rig. What saved us was our comprehensive insurance, non-collision, which most folks are unaware can be had from many insurers without having collision coverage. I always have comprehensive with a $100.00 deductible with liability only insurance.

quote:

Originally posted by Gambler:
I've never been told about "special equipment" coverage. Is that something that would be itemized as a separate charge like "collision", "personal property", etc?

Assuming I get the right coverage from Aon, will I be able to get something "in writing" that assures me that things like my solar panels will be valued separately from the RV itself?

Mac - Yes, you are correct. Special equipment coverage is a separate coverage limit and premium. It would be listed separately on your policy declaration page.

As far as the knowing where the coverage can be found, we would be more than happy to show you exactly where the coverage is listed in your policy.

Hope that helps.