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How To Protect Your RV Investment. This forum is set up to discuss insurance needs, terminology & where to go to get the best possible coverage for your needs. From time to time we will discuss the issues and differences in insurance coverage. When would an appraisal be in your best interest & how often should you have an appraisal and where one could obtain a certified appraisal.

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  #11  
Old 07-24-2020
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Angrybird Angrybird is offline
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Just like the millions of boats around the country that are registered in Delaware, Bahamas and are docked in other states. Do you think any one of them had a problem ? Purchase price of most of our buses can't even fill up the fuel tank on some of these yachts.... ****
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  #12  
Old 07-24-2020
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I try not to do things that if something happens to me it complicates it for those left behind. Not sure if this would but it just seems like it could be messy for them.


They will have enough issues once all my Girlfriends come forward. J/K
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Doug Spangler
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  #13  
Old 07-24-2020
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I think it all depends on risk tolerance. Some states (California, I've heard) are more stringent than others, and I bet within a state, some officers are more persnickety than others. My experience is that as long as you drive sensibly & don't break the speed limit, State Troopers are going to leave you alone. Since 2005, I've driven in every state except a few in the Northeast without any hassles. So if your natural tendency is to worry, and your bus will pass your state emissions tests, pay the in-state tax for the extra peace of mind. Just my 2 cents worth, YRMV!
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  #14  
Old 07-24-2020
mahansm mahansm is offline
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Just FYI, here's a link to a presentation by Steve Lehto, a lawyer from Michigan. He's speaking about registering a vehicle through an LLC in a state other than the state in which you reside.


His main point is insurance; since you don't own the vehicle it may cause extreme problems if you ever have a claim even though you have a policy in place. Adjusters are paid to find ways to deny claims.



Link:
<https://www.youtube.com/watch?v=ebDF-C7GJec>
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Stephen & Kathy Mahan
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  #15  
Old 07-24-2020
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Quote:
Originally Posted by Randy Dupree View Post
Dukes is looking for a new mayonnaise farmer in that area.
Ain’t nothing tastes as good as some fresh harvested mayonnaise.
I was thinking of KC and his meds when I responded earlier.
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  #16  
Old 07-25-2020
hexspeed hexspeed is offline
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Quote:
Originally Posted by mahansm View Post
He's speaking about registering a vehicle through an LLC in a state other than the state in which you reside.

His main point is insurance...
My insurance company (one of the 800 lb gorillas) won’t write personal RV coverage to an LLC, and policy expressly states that any subsequent change of ownership to an LLC immediately terminates all coverage. They consider LLC’s to be businesses and coverage would fall under their commercial lines. If you think personal coverage is expensive . YMMV
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  #17  
Old 07-25-2020
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An LLC is not a business. It has no bearing on insurance. All due respect your broker doesn't know what he's talking about. I've had four different insurance companies over the past 15 years all with LLCs and not one had a problem with an LLC. Mostly very familiar with it. As far as if something happened to you you have a title in your hand like you do from any other state. All you got to do is sign the title over and it's done, has nothing to do with the LLC at that point.
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Joe Rocco
Ft Lauderdale, Florida
1997 43 WLWB
Jeep Grand Cherokee, Tow'd
Harley Ultra Classic on trailer
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  #18  
Old 07-25-2020
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I own four vehicles registered under my LLC, and they’re insured by three different companies. No issues.
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Lance & Linda Hall
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  #19  
Old 07-25-2020
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Happy to put anyone in touch with my Montana attorney.
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Chip Lamb
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  #20  
Old 07-25-2020
hexspeed hexspeed is offline
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- Variation in experiences is why I ended with "YMMV".
- The IRS defines an LLC as a business structure - other IRS business structures include corporations, s-corporations, partnerships and sole-proprietorships. I'm not sure how, legally, that something set up under a business structure isn't a business.
- My agent knows what he is talking about - he warned me about the LLC exclusion and asked if it mattered to me. It didn't.
- The Montana LLC sites all provide lists of insurance companies that don't care about LLC ownership because their clients were having trouble getting coverage with companies who do. With some exceptions defined by your state's statutes, every insurance company is free to decide what they will and won't cover, and how they will write the coverage they do offer. You are free to decide what companies you want to do business with. This is a perfect example of the "free market" working.

I've got a Bird to fix, so I'm done
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