Publication: IA magazine
Date: April 22, 2019
Brook McGuire, Safeco’s strategy lead for specialty products, talks to IA magazine editor Jacquelyn Connelly about the increase in RV insurance rates.
Thanks to an increase in both miles driven and the number of vehicles on the road, RV physical damage trends are “very similar to what we’re seeing in auto,” says McGuire.
“People are starting to have better, fancier equipment in their RVs, and things like that create more opportunity for damage when there’s a claim, compared to the traditional old shell of an RV,” McGuire agrees. With greater damage, she adds, comes “higher costs of repairs.”
“Much like you have boat specialists or mechanics who focus on classic cars, you traditionally have RV specialists as well, and there aren’t enough RV shops out there,” McGuire says. “Repair shop labor costs are pretty high per hour. They can pick and choose what work they want to do.”
Read the full article: Hitchin’ a Ride: RV Rates Follow Lead of Auto Market