It's bill time again. I jumped in with both feet and paid all $4,000 of my property tax. I could have paid half now and half in 6 months but that would just give me a false sense of wealth and I would be tempted to spend more. October also brings the life insurance bill and the RV insurance bill. Every year I think that I might sell the RV and so I pay the bill thinking it will be the last time. This year, when I opened the bill I was shocked to see that the yearly amount due was now $382! That's more than it costs to insure my house and the RV is only insured for $20K! I thought about dropping the insurance but I don't like the thought of the RV sitting out there all alone. Vandalism is my main concern. I need to sell it but I do not feel comfortable meeting strangers out in the desert so if I have it towed to a lot in town I will still want it to be insured while it sits there.
First, I call my current insurer, American Modern. I asked to reduce the insured amount to $10K. The premium only went down to $350. Then I asked to reduce it to $5K. The agent said that $350 was the lowest the premium would go regardless of coverage. I said thank you and moved on. Next, I searched for RV insurance recommendations. I love how easy it is to find recommendations and advice online now. What did we do before the internet? Oh, ya. We talked to people. Well, I have never been comfortable talking to people which is probably how I ended up with my expensive insurance. In retrospect, I could have asked the people at the RV park where I was staying when I first bought my RV. I'm sure I would have received plenty of advice. On the other hand, I do vaguely remember asking people. I believe the problem was that I was living in the RV full time. There weren't many insurance providers back in 2000 for that type of situation.
Anyway, I am not living in the RV full time anymore so I was able to get quotes from Progressive and Geico. Initially, I liked Progressive's online quote system because I didn't have to talk to anyone on the phone. I thought I should get a second quote though and, because my RV is over 20 years old, I had to call Geico. It was a long and tedious phone call but in the end, I decided to go with Geico. It isn't actually Geico, it is Foremost but I bought the policy through Geico. Progressive was $12 a year cheaper but I felt that Geico gave me a more accurate quote because I couldn't answer all of Progressive's questions within the drop-down box choices. If I had called Progressive, I probably would have received a quote very similar to Geico.
My new policy costs $180 a year which is less than half of my previous policy. Hopefully, I will make a decision and do something about selling it this year so I can get rid of that cost altogether.