The weather is starting to heat up, those spring and summer trips you have planned are not too far away. We know that being out in nature is the best way to recover from being stuck in the house all winter, making camping the go-to trip for family and friends. Some will be tenting while others will opt for the comfort of a camper or RV. If you choose the latter, here is some insurance advice before heading to the great outdoors.
Did you know?
An RV policy is designed to accommodate almost all recreational vehicles from pop-ups to coaches
While towing an RV/Camper, liability only is extended from your auto insurance
While the RV/Camper is unhitched at your primary residence, liability will only be extended from your homeowners insurance
An RV policy provides liability while being stored away from the primary residence
Seniors are referred to as drivers over the age of 65—some of whom are still very active and many of whom are continuing members of the work force. Decreases in vision, hearing, slower motor responses, and changes in cognition have been said to challenge this demographic as they grow older.
Did you ever think that with more of the population aging, they might be doing a better job of acknowledging their limitations? Some seniors I spoke with tell me that they no longer drive at night because it is harder to see and they are not as sharp as they are during the morning hours. Others tell me that they stay out of rush hour and start their days later and end them earlier so that they can avoid heavily traveled roads, especially in inclement weather. Still others advise that they stay off major thoroughfares, and instead drive on side streets and roadways they have driven on all their lives. With the baby boomers fast approaching their 70’s what can we expect? Will their auto insurance rates go up or down? Is it possible that seniors can be said to be driving more cautiously with fewer accidents? Could it be safer roads, reduced speeds, traffic conditions, safer vehicles, the use of seatbelts, daytime running lights, or even the lengthening of daylight savings time in some areas of the country? The fact is that over the past decade it is reported that fatality rates for senior drivers have come down more dramatically than for any other age group. For this reason, auto rates for the age group of 65-75 have decreased in many states with many carriers simply due to the claim statistics.
Most of all, it is reported that older drivers actually drive fewer miles per year than their younger counterparts. Some insurance carriers also take this into consideration when calculating rates for the senior demographics. Of course, we haven’t yet gotten to the point where the “baby boomers” are over 75 years of age. That will take a few more years and it should be interesting to watch the results in insurance rates for this demographic.
It is important that seniors realize their driving ability can change as they age even though they may have been driving their entire life with an excellent safety record. In order to continue to drive safely, it is crucial for seniors to recognize that changes can happen and to regularly assess their driving skills.
In this economic climate we are all looking for ways to skim back, trim the fat, however dropping your collision/comprehensive coverage may be a costly decision.
We use our cars for the dreaded carpool, family vacations, to drive mommy dearest to her Doctor’s appointments, as well as to move your son back home for the second time. Lastly, you have just paid his tuition fees for the Fall Semester and this seems to be good time to scale back on expenses. You know you’re a safe driver! And you no longer are required to carry comprehensive and collision coverage, so why not drop it?
In the meantime your vehicle is damaged beyond repair. The other driver is at fault but doesn’t have adequate insurance or any insurance at all to replace your vehicle or the other two parked cars he/she has hit. You will now incur the costs of purchasing a new car.
For example: If at the time of loss, coverage was still in place, your 2010 vehicle valued at $11,000 was subject to a $1,000 deductible; and you and the carrier agree on a settlement of $9,000. A check for $8,000 would surely come in handy.
The average cost for a moderately priced sedan is between $25,000-$30,000. Finance agreements typically last for 4 years. A general rule of thumb would be to drop the coverage for average vehicles after 10 years. Antique or Classic automobiles would be an exception as their value often appreciates.
You can reference http://www.nadaguides.com for estimates of all types of vehicles. This type of information will help you make an informed decision as to whether or not you should keep Comprehensive and Collision coverage in place.
Dear Sherri,Is my Camper covered while being towed by my vehicle to our vacation destination? – Having fun in the sun
Dear Having Fun,
Ahhh camping; driving on the open road, having the whole family together, cooking, cleaning up… Good God why would you do this? Anyway, in response to your question, while being towed, coverage is extended from your personal auto policy to your camper for liability coverage ONLY. The camper must have its own comprehensive and collision coverage that you can purchase on a separate camper or RV (Recreational Vehicle) policy. It is always best to purchase an RV policy as these types of policies can include basic liability, medical payments, physical damage, replacement cost, contents, personal effects coverage, trip interruption and towing. However, remember to never allow passengers in the RV/Camper while it is being towed or when it is parked and you are taking a nap.
As always, check with your Insurance agent or carrier to be sure your camper has adequate coverage.
Q: If I hit a deer on the way home from a camping trip, what part of my auto policy pays the claim, Comprehensive or Collision?
A: Comprehensive Coverage. Most people think that colliding with something, be it an animal or inanimate object, must be covered under the Collision provision of the policy. However, accidents with animals are actually covered under the Comprehensive Coverage of your automobile policy
Do you have an insurance question? If so, e-mail it here and our insurance professional Sherri will give you the scoop on all you need to know. Your question might also appear in our Ask Sherri video series!
Watch videos about some great businesses that happen to be a Petschauer client!