RV Insurance for Registered LLC

[Buffy032017]

Looking for insurance companies who will insure our RV that is registered under and LLC.

[Fulltimer51]

Have you tried Google?

[docj]

We have AIS as our broker and have had Blue Sky for as long as we've had the MH.  We haven't had any issues over the ownership by our MT LLC.  Both my wife and I are listed as the principal drivers.

The issue where you could have serious problems would be if you wanted to finance an item that is owned by your LLC.  The MH and cars we have owned through the LLC have all been owned outright.

[Kirk W]

I think that most of the more popular agencies that specialize in covering fulltimers will be able to help you. Not all insurance underwriters will do this but most of the agencies will have a company or two who do so.

Miller Insurance

Explorer Insutance

RV Advantage

AIS insurance

 

[RV Vagabond Jerry]

I gave up trying to insure my motorhome under an LLC name so I just claimed that I owned it and Hartford accepted me.

[docj]

3 hours ago, RV Vagabond Jerry said:

I gave up trying to insure my motorhome under an LLC name so I just claimed that I owned it and Hartford accepted me.

I'm no lawyer but that seems like a very risky situation to be in.  In case of an accident or other loss I think  its naive to believe that the insurance company wouldn't quickly discover that you aren't the registered owner of the vehicle.  Since you made a major misrepresentation on your insurance application they probably would be justified in canceling your policy without settling any outstanding claims.  

[RV Vagabond Jerry]

2 hours ago, docj said:

I'm no lawyer but that seems like a very risky situation to be in.  In case of an accident or other loss I think  its naive to believe that the insurance company wouldn't quickly discover that you aren't the registered owner of the vehicle.  Since you made a major misrepresentation on your insurance application they probably would be justified in canceling your policy without settling any outstanding claims.  

But isn't it common for people who lease vehicles to get insurance in their name although the vehicle is owned by the leasing company?  I lease my RV from my LLC.

[mrfrank]

Twin Peaks Insurance Agency in Florida knows how to deal with an LLC. They use several mainline insurance companies. My last motorhome was insured by Progressive through them. Fulltimer insurance!

[Kirk W]

8 hours ago, RV Vagabond Jerry said:

But isn't it common for people who lease vehicles to get insurance in their name although the vehicle is owned by the leasing company?

The first place to ask that question is your insurance agent. I would look for written acknowledgment of this or have it noted on the policy to make sure. You might even be wise to ask an attorney that question. 

[trailertraveler]

8 hours ago, RV Vagabond Jerry said:

But isn't it common for people who lease vehicles to get insurance in their name although the vehicle is owned by the leasing company?

It has been a few years and the vehicles were not RVs, but we leased vehicles and had no problem getting insurance. If I remember correctly, the leasing bank required proof of insurance and I think specified the minimum insurance required just as they do on home mortgages. We did pay the insurance company ourselves, not through an escrow account as is often the case with a home mortgage. The insurance company knew the vehicles were leased.

[RV Vagabond Jerry]

14 hours ago, trailertraveler said:

It has been a few years and the vehicles were not RVs, but we leased vehicles and had no problem getting insurance. If I remember correctly, the leasing bank required proof of insurance and I think specified the minimum insurance required just as they do on home mortgages. We did pay the insurance company ourselves, not through an escrow account as is often the case with a home mortgage. The insurance company knew the vehicles were leased.

So the point is, you insured a vehicle that you did not own - as a lessee.

[Chad Heiser]

On a leased vehicle, the vehicle is still registered to the person who leased it with a legal owner of the leasing company.  It is no different than buying a car and making payments on it.  You are the registered owner, but the bank is the legal owner.

In your case, how is your RV registered?  Is it registered to the LLC?  Is it registered to you with a legal owner of the LLC?  I suspect it is simply registered to the LLC and does not have your name on the registration, but I am making an assumption here based on experience with LLC's.  If this is the case, this is where your problem with your insurance company may pop up.  If so, you have insurance on a vehicle you do not technically own.

[Kirk W]

7 hours ago, Chad Heiser said:

On a leased vehicle, the vehicle is still registered to the person who leased it with a legal owner of the leasing company.

 

I have had two cars that I leased and that was how it was for me also. The title said Ford Credit and the registration was in my name, with a lean by Ford Credit. My insurance carrier was aware that the vehicles were leased. I have never used an LLC and while I do know several who have, I can't recall having heard any of them say just how that worked but I think that the insurance was by the LLC with the owner's listed as drivers. (Do not rely on my memory as it can be faulty!)

[docj]

1 hour ago, Kirk Wood said:

 but I think that the insurance was by the LLC with the owner's listed as drivers. 

That's how the policy for our MH is structured.  The "named insured" is the LLC and both my wife and I are authorized drivers.

We've had several leased vehicles and the named insured on every one of them has been the leasing company that actually owned the vehicle.  If you think about it, in a case in which a vehicle is totaled the funds have to flow to the owner, not the authorized driver.

[Randyretired]

We title most of our assets in a partnership,  including our cars.  Our insurance is also in the name of the partnership and we are the drivers.  We have used a few different insurers and never had a problem.

[aunut]

On 6/9/2017 at 1:05 AM, RV Vagabond Jerry said:

But isn't it common for people who lease vehicles to get insurance in their name although the vehicle is owned by the leasing company?  I lease my RV from my LLC.

You might need a legal lease agreement with the LLC and some type of proof that you are making lease payments to the LLC. I don't believe that you can just say that you are leasing it.

Also, when a vehicle is leased, the insurance company needs to be aware of it. You, the lessee, are listed as the insured and the LLC, the lessor, is listed as an additional insured.