full timers Insurance & Rental property Insurance

Bobby A

Well-known member
We are faced with a dilemma, we live in Michigan, we planned on renting out our house and living full time in our rig for a couple years. We have gotten quotes on full time RV insurance, but as I was getting quotes on Rental Property insurance for our home, our agent told us that rental property insurance has skyrocketed from a tune of 800 dollars a year to over 1675 dollars a year, and they would not write a policy for us because we are gonna live in our RV and don't have another Dwelling. Anyone know anything about this, and the highway robbery that these insurace companys in Michigan are doing to those of us trying to full time and rent out our homes ??
Thanks,
Bob
 
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leftyf

SSG Stumpy-VA Terrorist
We are faced with a dilemma, we live in Michigan, we planned on renting out our house and living full time in our rig for a couple years. We have gotten quotes on full time RV insurance, but as I was getting quotes on Rental Property insurance for our home, our agent told us that rental property insurance has skyrocketed from a tune of 800 dollars a year to over 1675 dollars a year, and they would not write a policy for us because we are gonna live in our RV and don't have another Dwelling. Anyone know anything about this, and the highway robbery that these insurace companys in Michigan are doing to those of us trying to full time and rent out our homes ??
Thanks,
Bob

Find another agent. Something ain't right. Your RV is your dwelling. He doesnt want to write the policy and is looking for a reason not to. If the cost for your area is $1700 a year..pay it. Insurance is cheaper than buying a new house out of your checking account.

Besides, the cost of insurance is a write-off when you have it on rental property.
 

Bobby A

Well-known member
Thanks for responding lefty, I have calls in for other agents to give me quotes, they are supposed to get back with me tomorrow(Monday) however, I did have another agent tell me the same thing. O by the way, my original agent called me back and said she did find a company that would write the policy, for 2700 dollars a year !!! From 800 to 1675 to 2700 a year, you are right, something isn't right,BIG TIME.
Bob
 

SmokeyBare

Well-known member
Bobby,

I can't say why your insurance for the rental home is being quoted so high... in fact it's probably less coverage for this type of insurance than it was when you were living there. Being as they would only be covering the Home and not the contents of the home. Renters would be required to cover their own belongings.

As far as Full Time Insurance for your self and your RV and Belongings... those policies are not all that high... we uses a company called "RV America" which is actually a broker who puts together the needed coverage package. With the coverage we have declining deductable... Full Replacement coverage for 5 model years on the BigHorn... Liability insurance... Towing... seems there is more I'm forgetting with out looking... for under $ 600.00 a year.

This does not include the truck I tow the RV with.

Check out some Independent Insurance Agents for the house Insurance.

Marv
 

jpmorgan37

Well-known member
Bobby A;

If you belong to the Good Sam Club, check with them. GMAC Insurance is the carrier for Good Sam. We had everything insured through them, including a rental property, before we went full time. When we sold out we just converted over to full timers insurance. They were the best price that we were able to come up with all the way around.

John
 

Bobby A

Well-known member
Thanks all for your thoughts, I have 2 calls to make tomorrow and 2 coming in for quotes, I'll let ya know what I come up with.
Thanks again,
Bob
 

Bobby A

Well-known member
Hear is a shocker !! made a deal with an agent on full time policy that I thought was reasonable, a few days went by and he called me back and said since I talked to them last the premium went down 245 dollars !! this was after I made the deal. They could of not said anything and pocketed the money, but they passed it along to me. How often does that happen ??
 

2010augusta

Well-known member
Moved UK insurance discussion to new thread here:
//heartlandowners.org/showthread.php/19814-Can-a-US-insurance-company-cover-a-full-timer-in-the-UK
 
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