Insurance questions

[GOTTOYS]

Be careful about cancelling your collision insurance during storage if you are financing it! We have our TT on a seasonal site - blocked and levelled with a 25' deck. We have our insurance through Foremost, who have been great - we have extra insurance due to the seasonal site - more like homeowners' insurance including liability in case a visitor is injured, etc. We also have full replacement insurance for the TT and contents. We thought we were going beyond all necessary insurance - then the bank we financed with through our dealer (NorthShore - big mistake) informed us that we needed collision insurance in addition to everything we had. I called the bank several times, our insurance agent and Foremost called and faxed them, explaining that the insurance we have exceeds collision and the trailer DOES NOT MOVE. They actually threatened to repossess our TT if we did not add collision insurance. I asked if they required collision insurance for home mortgages. Didn't matter. Banks have no sense of humor...or logic.

My credit union let me carry just Comprehensive when we had a park trailer that was stationary. If it was me I would refinance through another lender, especially if you aren't happy with them. Just check to make sure you have no pre-payment penalty, if that is even legal anymore...Don

 

[AnnR]

Thanks for the reply Don - we'll definitely look into refinancing through my husband's credit union. I agree with other posters who said don't finance or get insurance through the dealer. We found the TT of our dreams, the price was great, so we sat down and signed the papers. Now we've had terrible customer service from the bank. Luckily we kept Foremost for our insurance - we had them with our previous TT. It's so much easier to deal with a bank and insurance company that you already have a relationship with. But sometimes it's hard to be patient when RV fever hits! BTW - I like your "She drives...He sits behind the steering wheel" My husband would probably like to have that made into a bumper sticker. He doesn't always appreciate my driving...advice...we'll call it!

 

[wildwolfproducts]

Our Insurance asked if ours would be towed. As they would not cover one set up on one spot for months. So be sure to as that question if its covered if I leave it on a lot for the year and its not moved.
Pete

 

[JohnDar]

Hmmm. When we bought ours, we arranged financing through the dealer. They found Chemical Bank had the best rates at the time, so we went with them. No problems in four years. Insurance was also through the dealer, who has a relative that is a Foremost agency. Again, no problems. Foremost was also the insurer of our TT that was traded in for the BH.