Progressive Insurance announced that its continued commitment to meeting the evolving needs of auto and RV consumers has led to its decision to add DIY camper conversion coverage to its policies. Historically, DIY vans have been considered an unacceptable risk under the company's insurance program. RVers can insure professionally modified campers, but DIY vans are not.
RV business Matt Jacobs, Progressive's RV product manager, explained that Progressive recognizes the growth in the DIY sector, especially the motorhome sector, and began offering nationwide insurance coverage last November. did. (Note: Hawaii and Washington, DC are not eligible for Progressive.)
“For example, we're seeing a trend of people buying a Sprinter van and making changes to it, like adding technology or adding their own style or fit,” Jacobs said. “Younger generations are really jumping on these DIY campers, which are generally in the lower price range, and it's not a big transition from trucks or SUVs. It's a great way to take your first steps into the RV industry, and these People can decide, 'Is this for me?'
Jacobs also talked about the demographic changes in the RV industry as a whole. “When most people think of RVers, they think of baby boomers and retirees. But this change started before the pandemic, and then once the pandemic hit, growth rates skyrocketed.”
He saw this change not only in the RV industry, but also in the boat and off-road vehicle markets. This group includes Millennials (born in the 1980s and 1990s), Gen Z (born in the late 1990s and early 2000s), and even his Generation X (born in the 1960s and 1970s). According to Jacobs, “People who had disposable income and were looking to buy an RV or boat thought, 'Now is the time to buy.'”
Progressive is looking to see if those who capitalize on this trend stay in the RV industry, saying, “We're finding that they're definitely staying in the industry. They're not using their RVs as much as they used to.'' Maybe, but I still use it.”
Jacobs feels the RV industry is very healthy. “He was very impressed with how the RV industry has been able to build and follow a younger demographic, and how RV manufacturers have done a great job at lower price points.”Tech-savvy Also includes his RV for customers. It's interesting to see how the industry is responding to different customers. ”
The docking sector is also booming, he said, and “we're seeing enthusiasts taking these vans to places they can't go with a standard on-road RV.” Expedition RVs are on the rise that can take you anywhere you want to go, and electric vehicles are also on the scene. ”
Along those lines, how does insurance work for RVers venturing off the beaten path? “There's no differentiation right now,” he says. “However, many of Progressive's smaller coverages, such as roadside assistance and emergency expenses, are built on on-the-road experience, so things may change in the future. So this It could be an opportunity to look at other coverage and say, “Does that make sense for someone who's going off-road and off the highway?” And what does that look like considering the potential tow aspect, or how can we reach them if they are in a remote area?”
When it comes to nationwide coverage, some people may be confused about insurance coverage in Canada and Mexico. Jacobs says, “We already have coverage in Canada and Mexico, but they treat it a little differently. Canada is very similar to the U.S. Mexico is a little different. As long as there is physical damage, it is also important to note that customers must purchase liability insurance through a Mexican insurance company. This means that if there is a complaint, it must be processed in the United States.”
Another point Jacobs made is that many people don't insure their travel trailers, especially if they don't have a lien holder, but they don't realize that trailers aren't always covered. That means it's possible.
Jacobs said: “For example, if a trailer is parked on your property, it's usually covered by home insurance. If it's being towed by a tow truck, it's covered from a liability perspective. If it's not being towed by a car, there could be gaps where the trailer isn't covered. And you'll find that it's not that expensive to insure.”
Along these lines, these gaps in insurance are also a focus for Progressive.
“We have expanded our responsibility for vacation,” Jacobs said. “Previously, Vacation Liability protected a customer’s RV while they were using it as temporary housing at a campground or national park. We found that you often come back for the weekend, and you are not responsible for that RV while you are not there.We decided this was a great opportunity to extend your coverage, so Progressive. With vacation liability policies, you can now fully protect your RV with liability insurance even when you're not there using it, even if you think you're covered. We've been working on opportunities to provide more coverage.”
Interest in #vanlife and DIY campers shows no signs of slowing down, and Jacobs notes that RVs are changing depending on what people put in them and what they're attached to. “We want to offer broader coverage to ensure RVers are 100% covered. In addition to DIY van coverage, two new coverages that Progressive has rolled out in recent years are Pest Damage and Roof Protection. This is an area that was not covered in the past, but now provides added value for our customers.”