Insurance in Canada

Johnny R · 08-31-2011, 04:50 AM

My insurance provider does not want to insure my Class B as an RV. Even though it has all the RV amenities, they insure it as a van. The advantage for me, they said, is that I can cancel coverage during the months I don't drive it, and get a premium refund for those months. I wonder what the advantage is for the insurance provider?
(I compare that with my motorcycle, which is also insured for a 12-month period. But there is no premium refund if I cancel the insurance for winter months.)

markopolo · 08-31-2011, 01:02 PM

Insuring as a van only would put a lower value on it. It will be book value. Insuring as an RV allows for a higher value. I've always chosen the value.

A motorhome policy usually has emergency vacation expense coverage built in. $2,000 Emergency Vacation Expense on my current policy.

A newer RV will qualify for "Deluxe" coverage which usually includes replacement cost coverage which would be a higher value settlement than a "Standard" policy.

If you want a motorhome policy ask your broker to get a quote from Elite Insurance Company. Also known as Aviva Elite. I've had that coverage on the west coast and the east coast. With them I'm currently paying $455 per year for $20,000 value. It is full coverage but not "replacement cost" as my RV is a 1997.

An appraisal might be worth getting for older RV's. Basically you need to be able to prove what the motorhome is worth to avoid financial disappointment at the time of loss.

markopolo · 08-31-2011, 01:16 PM

oh yeah, I keep it insured all year.

I'd recommend at least keeping Comprehensive and Liability cover on it during the months you don't drive it if you decide to drop Collision coverage. Ask how a hit & run would be covered even while the RV is in storage. Or at least Specified Perils and Liability on it. It usually doesn't cost much at all.

Think fire, falling trees, theft, vandalism etc. All can happen when you are not driving it.

Johnny R · 09-01-2011, 05:46 AM

@markopolo: OK, thanks for the good reply.

Mike · 09-02-2011, 02:44 AM

I'm also with Aviva/Elite. I added a 3rd party intrusion alarm system in early 2010 and only
this year (duh) asked about additional discounts for having an alarm system. It is saving me
an extra $44/year, so I'm paying around $700/year for 40,000 in replacement value.
As an RV, all year.

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