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I was contacted by a customer who currently has an RV and boat storage business that is insured elsewhere (not happy with agent but just renewed).

They are looking into starting an RV rental business.

Anyone familiar with insuring this type of business? What would be the correct way to do this?

Finally, how would you go about helping this person out who is "looking for quotes to see if this type of business is feasible"?

Wow, 28 views and nobody has any idea?

If you are an ISO member...or have SilverPLume or similar...search there for coverage guides.

Would also check out carriers/mga's that write traditional rental exposures.

Rob, it's not that we don't have any ideas, it's just that unless this guy is seriously going to do this you're going to spend a lot of time on it for nothing. I have a client that is always coming up with he's going to do this and that and at first I chased around finding someone that would do it and ballpark pricing - now when he asks I tell him that I need to pick out my new BMW before I give him the figure..... Laugh all you want but it works. Now if you want to seriously work on this - contact a large GA that will be able to do the auto for hire and get a ballpark. Then double it and see if the client still wants you to pursue.

Yes I normally wouldn't spin my wheels but I was curious about the right way to write this type of risk. In light of the fact that this person is just considering the business, I sent an email to her advising I don't have a market (even though my research has found a GA that will do this). I could send her an application but I don't want to do it without a padded ballpark so I don't waste my time.

Gosh, I really love my job when I get inquiries like Rob just received. People who are not familiar with the ins and outs of insurance really don't have a clue that you just can't trwil in your chair, punch a few keys on the computer and come up with a rate just like you can with a personal lines renters policy.

Becasue Rob has been around long enough that he probably doesn't need the practice quoting, what I can offer is if you've found an MGA who has a market for this stuff, and you've placed other business with the MGA, then you can ask for a 'range' of price indications...and then like CATHIEA says, double it.

What you can also do is suggest that the prospect contact a trade association for RV rental companies and see if they have a program available. Let someone who deals with this day in and day out give the price indication.

And if all else fails, I just throw out a number like $20K and see what the reaction is. If the prospect is serious about a business plan you'll know it soon enough and then you can decide to take this prospect seriously or not.

Whatever you do, don't throw out a number as low as $20k. You won't get it placed anywhere near that unless he has just 2 or 3 units. Many markets that will do this might have a minimum premium higher than that.

Do you know how many RV's he plans to have? What type and lengths? Approximate values? Expected rental revenues?

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