High Value Motorhome Insurance

[07790]

Hi all can I ask where you insure motorhomes with a value in excess of £275k. It seems most insurers only go upto £250k max.

Thanks

 

[Andy Norfolk]

This may not work but could you take out gap insurance for the difference?

 

[Paul F]

Hi all can I ask where you insure motorhomes with a value in excess of £275k. It seems most insurers only go upto £250k max.

Thanks

Many insurers have indemnity limits below that.

High value motorhomes are becoming a real problem as less and less insurers want to touch them. I have had quotes form a number of brokers but when you look at who is actually underwriting the risk it is often ERS (Equity Red Star).

The other alternative if you are lucky is NFU who I am with - but they can be a bit fussy who they take on and it helps your case if you have other insurances with them too.

 

[herald_400rl]

Many insurers have indemnity limits below that.

High value motorhomes are becoming a real problem as less and less insurers want to touch them. I have had quotes form a number of brokers but when you look at who is actually underwriting the risk it is often ERS (Equity Red Star).

The other alternative if you are lucky is NFU who I am with - but they can be a bit fussy who they take on and it helps your case if you have other insurances with them too.

Would you consider self-insuring if you had to? i.e. 250k cover limit but your MH is worth 3 times that, you would need to find half a mil to replace if you writ it off in a fault accident?

 

[Paul F]

Would you consider self-insuring if you had to? i.e. 250k cover limit but your MH is worth 3 times that, you would need to find half a mil to replace if you writ it off in a fault accident?

Its a big risk, and not one I would take.

Fault accidents are one thing as I have a degree of control over them, but I wouldnt be too keen on funding any shortfall if it was seriously damaged through weather (hail, lightning, wind etc) or stolen.

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[herald_400rl]

Its a big risk, and not one I would take.

Fault accidents are one thing as I have a degree of control over them, but I wouldnt be too keen on funding any shortfall if it was seriously damaged through weather (hail, lightning, wind etc) or stolen.

Fair enough, just intrigue. I'd be very nervous driving something like yours, or even a 10th of its new purchase price.

Short of a lottery win, at which point it wouldn't matter too much, It'll never be a problem for me.

 

[HugoBNB]

The bar seems to be a lot lower. Ripe are not interested at +£100k. Comfort at +£150k. It seems that they are all worried about where they are stored, too.

 

[Paul F]

The bar seems to be a lot lower. Ripe are not interested at +£100k. Comfort at +£150k. It seems that they are all worried about where they are stored, too.

Seems very restrictive to me given the way prices have increased in recent years. Lots and lots of motorhomes exceed those values now.

I have had many long conversations with various brokers about my storage arrangements. The storage postcode is more important than your home postcode now I think.

 

[HugoBNB]

Seems very restrictive to me given the way prices have increased in recent years. Lots and lots of motorhomes exceed those values now.

I have had many long conversations with various brokers about my storage arrangements. The storage postcode is more important than your home postcode now I think.

It is in a very low crime area. Locked. CCTV and putting a steel post in front of my van.

 

[Brains]

The bar seems to be a lot lower. Ripe are not interested at +£100k. Comfort at +£150k. It seems that they are all worried about where they are stored, too.

Comfort sent me a 7 page form to fill in for the storage place we were going to use.
Details of the berm, fencing, lighting, airlock gates, security etc etc etc

The good news is once I had filled it in, loads of other Comfort clients arrived.

We originally were going to use a storage place almost next door, which had similar levels of security, but they mostly stored equestrian based vehicles and horse boxes etc.
Comfort turned them down, as the main business was horses and not vehicle storage !

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[HugoBNB]

Comfort sent me a 7 page form to fill in for the storage place we were going to use.
Details of the berm, fencing, lighting, airlock gates, security etc etc etc

The good news is once I had filled it in, loads of other Comfort clients arrived.

We originally were going to use a storage place almost next door, which had similar levels of security, but they mostly stored equestrian based vehicles and horse boxes etc.
Comfort turned them down, as the main business was horses and not vehicle storage !

Was your one of these certified storage sites?

 

[funflair]

Talking to Shield at the Newbury show they said that they could cover vehicles over 250k so possibly worth a try.

 

[Paul F]

Talking to Shield at the Newbury show they said that they could cover vehicles over 250k so possibly worth a try.

Hi funflair - I got a quote from Howden last year (who own Shield I believe), and they passed the risk to ERS. The quote was actually more than other brokers quoting the same risk with the same insurer too.

Shield may have their own unique insurers of course, but I suspect it may all be part of the same operation.

As you say, could be worth a try though.

 

[funflair]

Hi funflair - I got a quote from Howden last year (who own Shield I believe), and they passed the risk to ERS. The quote was actually more than other brokers quoting the same risk with the same insurer too.

Shield may have their own unique insurers of course, but I suspect it may all be part of the same operation.

As you say, could be worth a try though.

Yes they are part of Howden group, somebody waved a leaflet in front of us at Newbury show and i gave them the usual "I doubt that you would cover us" response, the lady indicated that the value was not an issue but it might not be cheap.

 

[Brains]

Was your one of these certified storage sites?

No
Despite it being at the level of Cassoa Gold, it does not have the certificate.

The reason being that to get a CASSOA certificate the storage place has to pay an initial fee and then an annual fee to keep the licence.
The only advantage to the storage place is they are then listed as a CASSOA site, which may bring some added business.
However most motorhome storage places have waiting lists, so that is no advantage to them.

There is an advantage to the renters, as CASSOA registered places are easier to insure, and possibly at a cheaper rate.
But there is little, if any, incentive for a storage site owner, who already has a waiting list to get CASSOA approval.

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[HugoBNB]

I foresee a few challenging conversations if LV decide to dump us next year. I really do not want to be looking for a new insurer and a storage facility that will satisfy them. If someone can get through two gates, a steel parking post, alarm and tracker, plus some other secret bits n bobs, good luck to them.

 

[AdrianChen]

Would you consider self-insuring if you had to? i.e. 250k cover limit but your MH is worth 3 times that, you would need to find half a mil to replace if you writ it off in a fault accident?

For me it would be the 3rd party liability, would still need to find commercial cover for that.

 

[AdrianChen]

No
Despite it being at the level of Cassoa Gold, it does not have the certificate.

The reason being that to get a CASSOA certificate the storage place has to pay an initial fee and then an annual fee to keep the licence.
The only advantage to the storage place is they are then listed as a CASSOA site, which may bring some added business.
However most motorhome storage places have waiting lists, so that is no advantage to them.

There is an advantage to the renters, as CASSOA registered places are easier to insure, and possibly at a cheaper rate.
But there is little, if any, incentive for a storage site owner, who already has a waiting list to get CASSOA approval.

Yes ours is like that - Luckylite - the increased cost to them added to the storage cost of hundreds of vans would be negligable I expect, and I wouldn't be surprised if the increased insurance cost to individual vans was greater.....