WARNING! Â*MY ANNUAL LONG INSURANCE POST!
Your tow vehicle extends liability coverage to the trailer automatically. Â*Physical damage coverage (comprehensive/collision/towing) must be purchased separately. Â*You normally have the option of adding the coverage to your existing auto insurance policy or you can buy a separate policy through a specialty insurer such as Foremost. Â*A few companies (Progressive comes to mind) will not allow you to add the trailer to the same policy as your other vehicles. Â*
If your trailer is financed be sure to get permission from your lender before removing any physical damage coverage. Â*A few companies will insist you keep both comprehensive and collision coverage on as a package year round. Â*Others will allow you to drop collision coverage while you're storing it. Â*You'll also find a range of options including replacement cost coverage and trip expense coverage if you have a covered loss.
There is no one right way or best way to cover it. Â*If you're a full timer you have special needs and will want to investigate the unique coverage provided by the specialty carriers. Â*Just using in on weekends and for a two week vacation? Â*Coverage on your auto policy is just fine. Â*Living in your RV part time? Â*Maybe coverage on an auto policy is all you need, but perhaps the specialty companies will offer coverage you need for your situation. Â*What if it's in a park and you don't tow? Â*Special concerns to discuss with your agent. Â*Not only are you concerned about damage to the trailer, you also need to be certain you have liability coverage both while you are at the trailer as well as while no one else is there. Â*Contents coverage can also be a concern. Â*Amazing what we all pack into them, isn't it?
NO, there is no one best company. Â*NO, can't compare my rate with yours, at least not in any relevant way. Â*Rates depend on you, the value you insure the trailer/5er for, deductibles, zip code (rating territories), state, insurance score, extras and so on. Â*You're welcome to be your own insurance agent but I would always suggest finding a competent agent you trust and work through your needs with her/him. Â*
Happy camping! Â*
Edited by: papa2