As fifth wheels, travel trailers, and horse trailers are getting longer, larger, and heavier, a typical pickup truck becomes less safe and less capable of pulling the weight. As a result, medium-duty trucks are becoming more popular in the RV and equine cultures.
To Read more click here.
Wednesday, May 26, 2010
Friday, May 21, 2010
Understanding the Specialty RV policy vs. a Typical Auto Policy
The RV lifestyle is experiencing tremendous growth, especially as the Baby Boomers increasingly flock to the freedom of the RV lifestyle. In previous articles, we covered the foundation of specialized RV coverage with the depreciation protection coverage options. We have also talked about full-timers’ coverage as well. Let’s now cover other coverage options available on a RV specialty policy that is generally not available on a standard auto policy.
The following are descriptions of specialty RV coverages that Explorer Insurance Agency is able to offer.
Emergency Vacation Expense coverage is an option that reimburses out-of-pocket expenses that occur when an RV is out of use due to a covered loss.
To read more click here.
The following are descriptions of specialty RV coverages that Explorer Insurance Agency is able to offer.
Emergency Vacation Expense coverage is an option that reimburses out-of-pocket expenses that occur when an RV is out of use due to a covered loss.
To read more click here.
Friday, May 14, 2010
Specialty RV Coverages: Total Loss Replacement, Purchase Price Guarantee, and Agreed Value
According to a USA Today article on March 20, 2008, new sales of RVs hit 354,000 in 2007. Many of those RVs are insured with non-specialized coverage. At Explorer Insurance Agency, we realize how significant an investment a RV can be. This article discusses the three coverage options that are the foundation of the specialized RV policy. Each option provides a form of depreciation protection, but provides it in a different manner.
Total Loss Replacement is available to original owners of RVs with a model year within four years of the current year. This option provides depreciation protection for the first 10 model years. If a total loss occurs during the first 5 model years, the insurance company will replace the RV with the newest model, or a comparable RV. If a total loss occurs during the second five model years, the insurance company will pay the insured the purchase price paid by the insured for the total loss RV to be used towards the purchase price of a replacement RV.
To read the complete article click here.
Total Loss Replacement is available to original owners of RVs with a model year within four years of the current year. This option provides depreciation protection for the first 10 model years. If a total loss occurs during the first 5 model years, the insurance company will replace the RV with the newest model, or a comparable RV. If a total loss occurs during the second five model years, the insurance company will pay the insured the purchase price paid by the insured for the total loss RV to be used towards the purchase price of a replacement RV.
To read the complete article click here.
Thursday, May 6, 2010
Full-Time RVer Protection
In its November 8, 2007 issue, Time Magazine reported that there are over 400,000 full-time RVers in the United States. Although many of these full-timers inhabit their RVs all 12 months of the year, most insurance companies view five or six months as full-time usage.
When an individual decides to permanently hit the road to experience all of America, they may be subject to gaps in insurance coverage, especially if they are no longer a homeowner. This is another reason specialty RV insurance is needed. Explorer Insurance Agency offers specialty RV policies for full-timers to provide coverages that fill those insurance gaps.
Full-timers’ personal liability coverage provides very important protection. When you are a homeowner, personal liability coverage is usually provided by a homeowner’s insurance policy.
To read the complete article click here.
When an individual decides to permanently hit the road to experience all of America, they may be subject to gaps in insurance coverage, especially if they are no longer a homeowner. This is another reason specialty RV insurance is needed. Explorer Insurance Agency offers specialty RV policies for full-timers to provide coverages that fill those insurance gaps.
Full-timers’ personal liability coverage provides very important protection. When you are a homeowner, personal liability coverage is usually provided by a homeowner’s insurance policy.
To read the complete article click here.
Monday, May 3, 2010
RV Liability Insurance
Today we are going to go over the Liability portion of a RV policy. The definition of this is as follows:
Liability - Applies to claims made against you for bodily injury or property damage to others resulting from negligent operation of a motor vehicle.
Your insurance contract can have liability in one of two ways: split limits or combined single limits.
Read more..
Liability - Applies to claims made against you for bodily injury or property damage to others resulting from negligent operation of a motor vehicle.
Your insurance contract can have liability in one of two ways: split limits or combined single limits.
Read more..
Monday, April 5, 2010
RV Insurance Glossary
http://explorerrv.com/RvInsurance.aspx
RV Insurance Glossary
STANDARD AUTO COVERAGES
Liability - Applies to claims made against you for bodily injury or property damage to others resulting from negligent operation of a motor vehicle.
Personal Injury Protection - Applies to your medical expenses and lost wages resulting from the operation of a motor vehicle, regardless of fault in no-fault states.
Medical Payments - Applies to medical bills incurred by you, members of your family and passengers for injuries involving a motor vehicle.
Uninsured/Under-insured Motorist - Applies to claims you may have against another motorist for injuries you sustain as a result of a motor vehicle accident. Uninsured coverage applies if the other motorist has no insurance. Under-insured coverage applies if the other motorist has insurance, but it is not sufficient to
pay for injuries incurred.
Collision - Applies to damage to your vehicle caused by striking objects such as trees, poles, or other
vehicles.
Comprehensive - Applies to damage other than collision, such as fire, theft, flood, hail, windstorm, or earthquake.
Actual Cash Value - In the event of a total loss, pays the current market value typically determined by using Kelly Blue book or NADA Guide.
SPECIALTY RV COVERAGES
Replacement Cost - Covers the full replacement if the vehicle is destroyed by a loss covered in the policy, and replaced with a similar unit within the first five model years, protecting you from depreciation. This coverage converts to Purchase Price in the sixth model year.
Purchase Price - Pays the purchase price towards a replacement vehicle if you experience a total loss covered in the policy and choose to replace the RV.
Agreed Value - Pays the agreed-upon value, typically based on a professional appraisal or bill of sale, in
the event of a total loss. This coverage is ideal for purchasers of classic, bus conversion or used RVs.
Disappearing Deductibles - The comprehensive and collision deductibles are reduced by 25% of each claim
-free year. At the conclusion of the fourth claim-free policy year, you pay no deductible when filing a comprehensive or collision claim. If a loss occurs, deductibles return to the original amount and the diminishing feature resumes.
Full-Timer - Provides personal liability coverage similar to a homeowner’s policy. Additional living expenses, stored personal effects and other coverages may be available.
Mexico Physical Damage - Applies to comprehensive and collision coverage of your vehicle while traveling in Mexico, provided you maintain Mexican Liability on your vehicle during the entire trip.
Personal Effects - Replacement coverage for items such as clothing, dishes, computers, cameras, or
sporting equipment that are not a built-in part of the RV. Note: replacement cost is subject to policy
terms.
Vacation/Campsite Liability - Pays for bodily injury to others or property damage occurring at your campsite.
Emergency Expense - Applies to emergency lodging and transportation expenses if your vehicle is damaged or destroyed by a loss covered by the policy.
Roadside Assistance - Most carriers provide sign-and-drive towing and labor via a toll-free number. Auto policies may provide towing coverage, but typically offer a limited amount of coverage on a reimbursement basis with no dispatching service.
Medical Benefits (Scheduled) - Provides a specified dollar amount in the event of accidental death, or a
dollar amount for scheduled disabilities. Coverage only applies while operating your insured vehicle or as a pedestrian struck by a motor vehicle designed for public roads.
Custom Equipment Replacement - Replacement cost protection for after-market equipment added to your unit after the initial purchase.
Golf Cart/Moped/Scooter/Small Boat Coverage - Provides stated-amount comprehensive and collision coverage for a non-registered for-road-use golf cart, moped, scooter, or small boat.
Class Coverage - Instead of paying the higher comprehensive deductible, this coverage provides a $100 deductible for windshield and glass claims.
Consignment Coverage - This endorsement covers your unit from storm damage, fire, collision, vandalism, or theft while being sold on consignment with an RV dealership.
Note: The definitions in this glossary are for general information purposes only. For details
regarding your specific RV insurance policy, contact your insurance carrier or agent.
http://www.explorerrv.com/Default.aspx
RV Insurance Glossary
STANDARD AUTO COVERAGES
Liability - Applies to claims made against you for bodily injury or property damage to others resulting from negligent operation of a motor vehicle.
Personal Injury Protection - Applies to your medical expenses and lost wages resulting from the operation of a motor vehicle, regardless of fault in no-fault states.
Medical Payments - Applies to medical bills incurred by you, members of your family and passengers for injuries involving a motor vehicle.
Uninsured/Under-insured Motorist - Applies to claims you may have against another motorist for injuries you sustain as a result of a motor vehicle accident. Uninsured coverage applies if the other motorist has no insurance. Under-insured coverage applies if the other motorist has insurance, but it is not sufficient to
pay for injuries incurred.
Collision - Applies to damage to your vehicle caused by striking objects such as trees, poles, or other
vehicles.
Comprehensive - Applies to damage other than collision, such as fire, theft, flood, hail, windstorm, or earthquake.
Actual Cash Value - In the event of a total loss, pays the current market value typically determined by using Kelly Blue book or NADA Guide.
SPECIALTY RV COVERAGES
Replacement Cost - Covers the full replacement if the vehicle is destroyed by a loss covered in the policy, and replaced with a similar unit within the first five model years, protecting you from depreciation. This coverage converts to Purchase Price in the sixth model year.
Purchase Price - Pays the purchase price towards a replacement vehicle if you experience a total loss covered in the policy and choose to replace the RV.
Agreed Value - Pays the agreed-upon value, typically based on a professional appraisal or bill of sale, in
the event of a total loss. This coverage is ideal for purchasers of classic, bus conversion or used RVs.
Disappearing Deductibles - The comprehensive and collision deductibles are reduced by 25% of each claim
-free year. At the conclusion of the fourth claim-free policy year, you pay no deductible when filing a comprehensive or collision claim. If a loss occurs, deductibles return to the original amount and the diminishing feature resumes.
Full-Timer - Provides personal liability coverage similar to a homeowner’s policy. Additional living expenses, stored personal effects and other coverages may be available.
Mexico Physical Damage - Applies to comprehensive and collision coverage of your vehicle while traveling in Mexico, provided you maintain Mexican Liability on your vehicle during the entire trip.
Personal Effects - Replacement coverage for items such as clothing, dishes, computers, cameras, or
sporting equipment that are not a built-in part of the RV. Note: replacement cost is subject to policy
terms.
Vacation/Campsite Liability - Pays for bodily injury to others or property damage occurring at your campsite.
Emergency Expense - Applies to emergency lodging and transportation expenses if your vehicle is damaged or destroyed by a loss covered by the policy.
Roadside Assistance - Most carriers provide sign-and-drive towing and labor via a toll-free number. Auto policies may provide towing coverage, but typically offer a limited amount of coverage on a reimbursement basis with no dispatching service.
Medical Benefits (Scheduled) - Provides a specified dollar amount in the event of accidental death, or a
dollar amount for scheduled disabilities. Coverage only applies while operating your insured vehicle or as a pedestrian struck by a motor vehicle designed for public roads.
Custom Equipment Replacement - Replacement cost protection for after-market equipment added to your unit after the initial purchase.
Golf Cart/Moped/Scooter/Small Boat Coverage - Provides stated-amount comprehensive and collision coverage for a non-registered for-road-use golf cart, moped, scooter, or small boat.
Class Coverage - Instead of paying the higher comprehensive deductible, this coverage provides a $100 deductible for windshield and glass claims.
Consignment Coverage - This endorsement covers your unit from storm damage, fire, collision, vandalism, or theft while being sold on consignment with an RV dealership.
Note: The definitions in this glossary are for general information purposes only. For details
regarding your specific RV insurance policy, contact your insurance carrier or agent.
http://www.explorerrv.com/Default.aspx
Monday, March 29, 2010
RV Insurance- (every thing you always wanted to know about RV Insurance)
Since 1997, Explorer RV Insurance Agency has been providing custom-designed insurance programs for RV owners. The agency represents leading insurance carriers that offer products in 48 states. Explorer RV is underwritten by companies with A.M. Best ratings of "Excellent" or higher.
The Explorer RV staff is committed to bringing you superior insurance protection, exceptional service and more value for your insurance dollar. You will experience the advantages of working with a dedicated agency, backed by the strength and stability of our national insurance carrier partners.
When you contact Explorer RV you will have the opportunity to speak with a licensed agent every time – not a call center operator. Our team of professionals is specially trained in RV insurance, and realizes that service doesn’t end when your policy is written.
They stand ready to:
- Assist with policy changes
- Act as your advocate in facilitating communication with the insurance company
- Perform renewal reviews and make coverage recommendations
We focus on all your insurance needs, so you can focus on enjoying your RV!
For the next 13 weeks we will be discussing what makes up RV Insurance, how the coverages work, and doing this in as much detail as we can.
This is the topics for the next 13 weeks:
RV Specialty Insurance (every thing you always wanted to know about RV Insurance)
WK 1 RV Insurance Glossary
WK 2 Liability& Personal Injury coverage
WK 3 Medical Payment & Uninsured motorist, underinsured motorist coverage
WK 4 Collision and Comprehensive coverage
WK 5 ACV, TRL, PPG, AGV,
WK 6 New Coverage from NIIC GAP& FSO
WK 7 Full timer & Vacation/Campsite Liability
WK 8 Personal effects & emergency expense coverage
WK 9 Roadside assistance & medical benefits
WK 10 Customer Equipment & Golf cart & Glass coverage
WK 11 Consignment Coverage from NIIC
WK 12 Agent vs. Captive
WK 13 Specialty vs. Auto Insurance for your RV
Come back and learn more about the RV Insurance vocabulary next week.
The Explorer RV staff is committed to bringing you superior insurance protection, exceptional service and more value for your insurance dollar. You will experience the advantages of working with a dedicated agency, backed by the strength and stability of our national insurance carrier partners.
When you contact Explorer RV you will have the opportunity to speak with a licensed agent every time – not a call center operator. Our team of professionals is specially trained in RV insurance, and realizes that service doesn’t end when your policy is written.
They stand ready to:
- Assist with policy changes
- Act as your advocate in facilitating communication with the insurance company
- Perform renewal reviews and make coverage recommendations
We focus on all your insurance needs, so you can focus on enjoying your RV!
For the next 13 weeks we will be discussing what makes up RV Insurance, how the coverages work, and doing this in as much detail as we can.
This is the topics for the next 13 weeks:
RV Specialty Insurance (every thing you always wanted to know about RV Insurance)
WK 1 RV Insurance Glossary
WK 2 Liability& Personal Injury coverage
WK 3 Medical Payment & Uninsured motorist, underinsured motorist coverage
WK 4 Collision and Comprehensive coverage
WK 5 ACV, TRL, PPG, AGV,
WK 6 New Coverage from NIIC GAP& FSO
WK 7 Full timer & Vacation/Campsite Liability
WK 8 Personal effects & emergency expense coverage
WK 9 Roadside assistance & medical benefits
WK 10 Customer Equipment & Golf cart & Glass coverage
WK 11 Consignment Coverage from NIIC
WK 12 Agent vs. Captive
WK 13 Specialty vs. Auto Insurance for your RV
Come back and learn more about the RV Insurance vocabulary next week.
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