Insuring RV's on Consignment

Did you know that if you put your RV on a consignment lot, you have likely just voided your insurance coverage?

Most RV policies will not cover an RV on consignment. Up until recently, Foremost was the only company that would still cover your RV in this situation.

Now National Interstate has added an endorsement that you can purchase that will cover the RV while on consignment for liability and physical damage.

Both Progressive and GMAC have exclusions for RV's on consignment. The RV lots do not cover your RV while on consignment. If potential buyers are allowed to test drive your RV, you could have a huge liability exposure. What would happen if the test driver hit someone while driving your RV? Who would pay for the damage? What if there is a fire, hail, tornado or a break in? Don't take the chance, call your agent and make sure you have coverage before you sign that consignment contract.