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Old 09-15-2020, 04:52 AM   #1
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1986 25' Sovereign
Kalamazoo , Michigan
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Not buying insurance

Hi:

After some searching, I'm leaning toward not buying insurance for a 1986 Sovereign 25, worth about $15 -18k. Owned for 4 years

Appraisal to get to agreed value: $200-250?
Insurance = $250-350 per year.
Deductible $1,000, Some quotes don't cover any interior items.

After 5 years, I'll have spent $1,250, trailer would have depreciated a bit more.

Am I the only one saying it's not really worth it? Cash value would pay about $2000, definitely not worth it.

Anyone else look at numbers like these and think "I'll take my chances?"
Joe
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Old 09-15-2020, 05:05 AM   #2
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2012 16' International
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How about liability insurance? You can cause a lot of damage to someone else’s property if something goes wrong...
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Old 09-15-2020, 05:53 AM   #3
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1960 28' Ambassador
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1998 25' Safari
Avonton , Ontario
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My truck carries liability for the trailer. In 20 years I have never insured any trailer and I have had lots. . Always had 2 or more If I wreck one I"ll go home for another one.
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Old 09-17-2020, 03:05 AM   #4
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1986 25' Sovereign
Kalamazoo , Michigan
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Thanks for prompting me to dig into truck ins. policy for details. I found this in the liability section of my policy:
"An auto and attached trailer are considered one auto."–for coverage purposes.

So I believe I'm covered for liability when towing. I can't imagine incurring much liability when not towing-although I know there are rare scenarios that might occur. Accidents inside that occur to someone else while parked. Possible, but not likely.

Thanks all, J
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Old 09-17-2020, 03:50 AM   #5
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Liability Insurance and Collision Insurance are not the same.
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Old 09-17-2020, 03:51 AM   #6
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1993 21' Sovereign
Colfax , North Carolina
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Quote:
Originally Posted by Shacksman View Post
My truck carries liability for the trailer. In 20 years I have never insured any trailer and I have had lots. . Always had 2 or more If I wreck one I"ll go home for another one.
Our state does not allow the truck liability to cover the trailer. Trailer insurance is required and separate.
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