Be Careful Dispensing Insurance Advice

by Karyn N
(Alberta, Canada)

Not just your insurance company offers this "deal" if there is a problem (unforseen circumstance) with your RV down in the USA. The coverage is called "newly acquired vehicle" and is under the SPF1 which is a standard form in Canada.

Here is a link to the wordings. The replacement/newly acquired vehicle is under "Automobile defined".

Please be very careful dispensing insurance advice over the internet when you aren't a licenced agent. Just because your insurance company tells you that you can do something doesn't mean they will always respond unless you are clear in what your intent is.

You must have a valid policy in force at the time of the acquisition and the coverage must be concurrent (until you notify the insurance carrier of different).

An example of this would be a vehicle on the current policy only having TPL (Liability) coverage and the new RV/Vehicle requiring Collision and Comprehensive. This must be notified to the insurance broker at the time of the purchase or the only coverage that will be immediate will be the same as what the policy has currently.

Check with your local broker to ensure that coverage would respond in the event of a claim.
(note; the SPF1 is Canada-wide).

Marianne's Reply: Good advice and I totally agree. Everyone should consult their own insurance company. It seems that every company and every state and province can have different requirements. And deal with a local broker you know to be reputable. He/she will go to bat for you with the insurer if necessary. You may find cheaper premiums online or elsewhere but they're worthless if you can't get a claim paid.

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