NYS COVID-19 P&C CUSTOMER RELIEF NOTICE

New York State Department of Financial Services extends grace periods for certain property/casualty insurance policies.  If you are an individual or small business and can demonstrate financial hardship as a result of the coronavirus pandemic.  
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NYS COVID-19 LIFE INSURANCE CUSTOMER RELIEF NOTICE

New York State Department of Financial Services extends grace period and give you other rights under life insurance policy or annuity contract if you can demonstrate financial hardship as a result of the coronavirus pandemic.  Read more.

OFFICE CLOSURE DURING COVID-19

As we continue to monitor the spread of COVID-19 (coronavirus), the health and safety of our policy holders and staff is our top priority. Based on recommendations from the CDC (Center for Disease Control) as well as the recommendations from the New York State Governor,  SEFCU Insurance Agency has made the decision to temporarily close our offices located at 469 State Street, 3rdFloor, Schenectady and 297 Main Street, Schoharie beginning Friday, March 20th until further notice. 

This temporary closure affects SEFCU Insurance Agency offices ONLY. 

During this time of uncertainty, you can rest assured knowing that SEFCU Insurance Agency will continue to meet the needs of our customers. Agents are available by phone as well as email to service your policies, offer quotes, and answer any of your questions. We will not be staffing our offices or accepting premium payments in person.

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Hit the Road in an RV

Mar 24th, 2021

Published: March 29, 2018

Updated: July 27, 2020

by Emily Guy Birken

Seeing America on the open road in the comfort of a recreational vehicle (RV) is a common retirement or summer dream. Not only can you experience all the wonders our country has to offer, but you can also carry all the conveniences of home along with you. You can scratch your travel itch in an RV rental or an RV of your own and maintain a sense of freedom and independence that traditional traveling does not offer.

Here’s what you need to know if you are considering hitting the road in an RV.

Just How Much RV Do You Need?

Though we use just one term for RVs, there are huge differences among the various types of motorhomes. There are towable trailers, and pop-up camping trailers that all share the general description “RV.”

Most Common Types of RVs:

  • Class A Motorhome. These are the largest recreational vehicles on the road. They can measure as long as 45 feet and offer a number of homey amenities for RVers who plan a lengthy stay on the road. However, these motorhomes are the most expensive. Some drivers may find their size intimidating — although you do not need a commercial driver’s license, or CDL, to operate one.
  • Class B Motorhome. This class of motorhomes can also be referred to as camper vans. They are much smaller and easier to maneuver than their Class A counterparts. These types of motorhomes offer a comfortable sleeping area, bathroom, kitchen and sink. Although having more than two people or taking a longer trip may feel quite cramped, these RVs are less expensive to purchase than Class A motorhomes. They are also much cheaper to maintain.
  • Class C Motorhome. Class C refers to mid-sized motorhomes built on top of an existing truck or van chassis. They offer a comfortable temporary home for families or groups. These RVs may stretch as long as 25 or 30 feet — making them somewhat easier to drive than the Class A motorhomes. The cost to buy and maintain Class C motorhomes is less expensive than Class A, but more expensive than Class B.
  • Towable Trailers. These RVs are built on top of a standard trailer frame. They contain living spaces that are as simple or luxurious as you want. Any vehicle that can handle the weight capacity — such as pickup trucks and some SUVs — can tow these trailers. This means you do not have to purchase an additional vehicle if you already own one that can handle towing. Trailers can vary widely in price, depending on the amenities.
  • 5th Wheel Trailers. These are very similar to towable trailers, except 5th wheel trailers have a gooseneck connect that attaches to the vehicle. The gooseneck makes towing and maneuvering these trailers easier than regular trailers, but you must use a pickup truck for towing. The gooseneck also offers additional interior living space. As with towable trailers, the price of 5th wheel trailers depends on the amenities.
  • Pop-Up Camping Trailers. Also known as foldable or tent trailers, pop-up camping trailers feature collapsible compartments that can be folded away during towing to reduce their external profiles. They are easy to tow and light enough for some cars to handle their weight. However, there are generally minimal to no bathroom or kitchen facilities in these trailers. Their folding design also does not allow for storage of supplies and equipment, which must be transported separately.

Deciding which kind of RV will be right for you depends on a number of factors: how far and how often you want to travel, whether or not you plan to go off-road during your jaunts and how well you get along with your traveling companions.

Should You Get an RV Rental or Buy an RV?

 

It’s a good idea to start your RV travel plans by renting different types of vehicles to determine which will be the best fit for your plans. You might also want to simply plan on using an RV rental anytime you feel the call of the road, rather than buying one.

That’s because even travelers who are sure they’ll be using their RV every few weeks may find that it is cheaper to get a rental. According to the Fun Times Guide, the typical RVer only gets behind the wheel 27 days per year. This means that a typical RVer who purchases a three-year-old RV on credit “will pay a premium of $200 more per day [of RV use] for the privilege of ownership versus renting. To make ownership financially worthwhile, you need to use your RV about 40 days per year if you buy the RV outright or about 50 days per year if you buy the RV on credit.” An RV rental may make more sense if you’re just planning a short vacation.

How Will You Handle Ill Health on the Road?

Illness can strike anywhere, even when you’re on vacation. This becomes more likely if you plan to spend significant time in your RV. While it’s easy to shrug off the sniffles on the road, you should have a plan in place, just in case you come down with anything more serious.

In particular, do you know how you will find a doctor to treat you if you’re far from home? Retirees who are already on Medicare Parts A and B will be able to receive hospital and medical care in case of a major illness. If you are on a Medicare Part C (Medicare Advantage) plan, however, it may not cover you for anything other than emergency or urgent care, since your plan may specify that you are not allowed to see providers outside of your network.

While these limitations should not keep you from traveling, it’s important to know what they are before you start exploring the length and breadth of the country. Travel insurance benefits can help cover a gap in your health care coverage if your insurance or Medicare plan will not cover you on the road.

Do You Need Additional Insurance for Your RV?

Your existing automobile insurance policy may cover you behind the wheel of your RV — but you should consider purchasing specific RV insurance for your jaunts around the country. That’s because automobile insurance is not geared toward the specific needs of an RVer and it leaves some pretty significant coverage gaps.

RV Insurance Coverages to Consider:

  • Total loss replacement.If you buy a new RV and shortly afterwards experience a total loss, this coverage will replace your totaled RV with a similar unit. RVs depreciate very quickly, which is why new RV buyers may want this coverage.
  • Replacement cost of personal belongings. Automobile insurance policies will cover belongings in your vehicle, but it is a limited amount of coverage. RV policies allow you to include all of your personal belongings within the RV for the most damaging events.
  • Campsite liability. This is similar to homeowners insurance coverage for when you park RV at a campsite.
  • Emergency expenses. If your RV is damaged while you are away from home, you will need to stay elsewhere while it is repaired. This coverage will reimburse some expenses related to lodging, food, and travel home, provided the damage occurred more than a set number of miles (usually 50 miles) from your fixed residence.
  • Higher liability limits. While you could carry the minimum liability limits on your RV, most RV insurance policies provide for much higher liability limits than general automobile insurance. Since RVs have a much larger profile and footprint than cars, they can potentially cause a great deal of damage in an accident. Getting a higher liability limit can help protect you financially in case of an accident.

 

Are You Prepared to Handle Routine RV Maintenance?

Like your home and your car, your RV needs regular maintenance. Some of this maintenance is no different from the tasks you perform for your commuter vehicle. You’ll need to change the oil and filters, check tire pressure and the like.

However, some RV maintenance requirements may fall somewhat outside of your comfort zone. These requirements include:

  • Covering your roof.
  • Running your generator two hours every month.
  • Emptying and maintaining your waste water holding tanks.
  • Watching your window, door, and roof seals.
  • Opening your vents.
  • Lubricating your slide-out rails.
  • Monitoring propane gas levels in your tanks.

If you feel a hesitant about handling these issues you may want to start by using an RV rental before committing to buy.

RVing: The Great American Retirement

Whether you have always dreamed of traveling the country by RV, or it is simply one of many travel options. It’s important to know what you’re getting into before you get behind the wheel of an RV. Thinking through these details beforehand will help ensure that you’ll be a happy camper once you get on the road.

Courtesy of The Hartford

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