RV insurance coverage is a special kind of coverage that is designed for motorhomes, travel trailers and other recreational vehicles. It has specific features like towing coverage, medical payments coverage and personal property coverage.
Many people who have RV insurance policies may not even be aware they have it because of how seamlessly it blends in among the regular car insurance policy you may already have.
However, there are some differences between RV insurance and regular auto insurance. An example would be the cost of an RV policy: if you choose to purchase one, the average cost is around $400 a year but if you need to make a claim, expect your costs to jump up to $3,000-5,000 or more.
Why You Should Have An RV Insurance Policy
One of the biggest decisions that you will make in your life is to buy an RV. When you are ready to do this, you may want to buy insurance for it.
Get yourself an RV insurance policy, which can cover a wide range of risks. Most importantly, it will help protect you and your family if anything goes wrong with your RV.
There are many reasons for having an RV insurance policy. Some of the most common ones are to protect yourself from damages, theft, and fires.
RV insurance policies protect you from the risks of traveling while giving you peace of mind that your vehicle is fully covered. If you have never had an RV insurance policy before, it may be a good idea to explore the options.
Whether you are a full-time RV dweller or just an occasional weekend camper, there are many things to think about when purchasing an RV insurance policy. The main thing to keep in mind is that you need a policy that covers all the areas you will be visiting during your trip and also offers coverage for damages due to theft or damage.
RV insurance policies can protect you from inclement weather, theft, vandalism, fire, and collision damage.
It is important to have an RV insurance policy because it protects you from all the risks that come with owning an RV.
Is RV insurance mandatory?
The US government requires auto insurance for all vehicles. This is to provide protection for the property of those involved in any accident-insured or not.
RV insurance, on the other hand, is different. It provides protection to people who are using their RV as a living space and has a lot of personal belongings inside of it. The RV itself does not have enough coverage to cover damages.
When you own an RV, property damage is covered up to $100,000 per person and it covers medical expenses in case of an injury that results from the accident.
Insurance companies recommend that you carry at least $250,000 worth of liability insurance in case someone gets hurt during an accident involving your vehicle and they also recommend having fire and theft coverage or comprehensive coverage as well if you own a home or have valuable assets.
Buying RV insurance is mandatory for those who are staying in the US for a short-term or long-term stay and owns a motor vehicle. However, buying RV insurance is optional if your will be staying in the US for less than 6 months and has no motorized vehicle.
What are the Different Types of RV Insurance
The different types of RV insurance are:
Comprehensive RV Insurance: This type of coverage includes liability protection and provides financial protection for damage or theft. It also covers loss due to fire, vandalism, or natural disasters.
Basic RV Insurance: This type of coverage usually only covers the cost of replacing your vehicle if it gets stolen or totaled in an accident.
Medical Expense RV Insurance: This type of coverage will provide for medical bills that are incurred with injuries sustained during an accident.
Camping policies: These policies provide coverage for items that are typically not covered by your homeowners policy like tents, campers, sleeping bags, and clothes wet from being out in the rain.
Replacement cost coverage: This type of coverage pays in the event of a total loss.
Liability: This category includes coverage for injuries and damages that you cause while driving your RV on public roads (for example, when you’re driving drunk).
Uninsured/underinsured motorist bodily injury liability policy: This type provides protection if bodily injury is sustained in an accident involving a motor vehicle of which the insured person was not the owner.
What RV Insurance Should Include
There are many types of RV insurance which have their own set of benefits. Buying the right type of policy for your needs is important to make sure you are protected.
The most common types of RV insurance include:
GA – General Aggregate Insurance (typically cheap and covers property)
TA – Travelers Insurance (covers people and personal belongings while on the road)
BOP – Boat or Passenger Policy (covers people and personal belongings when on a boat)
BOI – Boiler, Oil, or Inverter Insurance (covers property that’s attached to the RV)
PIW – Personal Injury Waiver (covers medical costs if someone is injured while in your care)
RV travel insurance covers medical expenses incurred while traveling with an RV (including healthcare in the US, Canada, Mexico and Canada)
RV travel insurance covers theft of an RV (including recovery costs)
RV travel insurance covers damage to an RV while traveling (excluding the gas tank and engine)
The Differences Between Regular Automobile Insurance and RV Coverage
While it may seem like a small difference, the three major differences between RV insurance and regular auto insurance are:
The main difference between RV coverage and regular automobile insurance is that the latter only covers drivers and their vehicles, while the former also covers passengers with the exception of people who have commercial or non-private vehicles.
RVs are covered by a physical structure whereas cars are usually covered by physical damage or theft.
The value of an RV is typically much greater than that of a car.
RVs contain more people than cars, which means they require more coverage in terms of injury, property damage, and liability.
-RV Coverage will be more expensive than regular car insurance in most cases. -For some drivers, it could be worth the price of an RV if their vehicle can’t handle driving in inclement weather conditions or other varying circumstances that require an RV’s capabilities.
-Regular car insurance covers the standard automobile while RV coverage includes all types of automobiles and recreational vehicles like boats, motor homes, tow trucks, ATVs/snowmobiles, etc
Picking The Right RV Insurance For Your Needs & Budget
In the United States, RV insurance is a tricky thing to figure out. There are so many different options that it can be difficult to determine what will fit your needs and budget.
RV insurance is an important part of owning and traveling with an RV in the US. The below are some factors that you should consider when picking a policy:
– The type of vehicle you own
– If you own a motorhome, motorcoach or tow vehicle as well as if you have a full or partial summerized policy
– The size of your vehicle
– Make sure you know what your coverage includes
– What type of liability coverage you need
– Liability coverage is usually required by law, but there are some instances in which it is not required.
Good Sam RV Insurance
Good Sam Insurance Agency offers policies for full-time RVers. Full-time coverage allows drivers the flexibility to modify their motorhome insurance policy to include replacement-cost coverage for personal items, rather than a loss.
Standard coverage includes collision, liability and property damage as well as personal injury protection. Standard coverage also includes $3,000 in personal effects coverage, a $500 emergency allowance for food or lodging, and a $500 reward for information that leads to a conviction for vehicle theft.
Personal liability and medical payments can be added to your RV insurance policy. You also have the option to store your motorhome for longer than 30 days to allow you to suspend collision or liability coverage.
National General RV Insurance
National General allows drivers the freedom to customize their motorhome insurance according to their needs. It includes coverage for personal possessions, permanent attachments and total general liability as well as replacement cost.
Standard features include protection for all items attached to your RV. This includes satellite dishes and TV antennas. To cover special alterations, such as solar panels or retractable awnings, you can also add equipment coverage.
National General’s personal property coverage covers the cost of the item, not the current depreciated value. If the vehicle is stolen, totaled or damaged in any way, you will receive a replacement RV at the same or comparable value.
Progressive RV Insurance
Progressive includes a variety of RVs including conventional motorhomes and 5th wheel, truck-campers, horse-travel trailers, and cargo/utility trailers.
Standard RV coverage includes collision and comprehensive coverage, liability, uninsured/underinsured motorist coverage, and medical payment coverage. You can customize your policy to include additional insurance products.
Additional coverage includes roadside assistance and total loss replacement, replacement costs for personal effects, vacation liability as well as full-timer’s liability, loss assessment coverage, emergency expense coverage and coverage for pet injuries.
Safeco RV Insurance
Safeco’s RV Insurance coverage is unique because it offers optional coverage options such as pet coverage, electronic key replacement, audio-visual and custom equipment protection, vacation liability, and even vacation liability. Standard coverage includes personal property coverage, as well as audio/visual and custom equipment coverage.
Safeco boasts a decreasing deductible. Policyholders who are not subject to claims could save $500 on their deductible and still pay the same premium rates.
It is possible to save money by selecting actual cash value reimbursements over replacement cost reimbursements. You can also set your reimbursement rate. This would help insurance adjusters to guide you after you file a claim.
Nationwide RV Insurance
Nationwide provides the standard multi-policy discounts and multi-vehicle discounts. You can save money by learning to drive an RV, joining an RV association (such as National RV Association), or purchasing the Full Timer’s package.
Not all discounts are available on Nationwide’s website. Some discounts are only available during the quote process. A customer service representative said that there are other discounts available for the installation of a tire pressure monitoring system or a fiberglass body to an RV.
You can customize your policy to include towing & labor and roadside assistance.
Geico RV Insurance
Geico provides affordable RV insurance for full-time and part-time RVers. There are many discounts offered by the company, such as defensive driving, 5-year good driving, retired military and government officials, multi-car and member and employee discounts.
Geico offers a Prime Time contract with guaranteed renewal for seniors and older drivers. Drivers must be at least 50 and have not been involved in any traffic accidents or traffic violations within the last three years. Prime Time contracts can only be obtained in certain states.
Geico has a user-friendly mobile app and an enhanced website that you can use to check your policy, pay bills or submit claims. You can request RV insurance quotes online or over the phone.
Auto-Owners RV Insurance
Auto-Owners is a trusted name in RV insurance, providing personalized insurance for RV owners. Because each policy is customized to the needs of the owner and their recreational vehicle, potential buyers should contact an agent.
Auto-Owners offers discounts to multi-policy and life insurance holders. There is a discount for you paying your premium on-time for the past 36 month, and a paid in-full discount if you pay the annual premium fully. You can also get a green discount by enrolling in paperless billing.
5 Ways to Get the Best Deal on RV Insurance
1. Know your vehicle and make sure you have coverage on all necessary items
2. Find out if your state offers an RV insurance program, or if there are any discounts based on driving experience
3. Compare premium rates – a lot of companies offer discounts for customers who bundle their auto and RV insurance in one policy
4. Ask about discounts that may be available when purchasing multiple policies from the same company
5. Buy it before you need it – don’t wait until your car breaks down a month before you go camping
Conclusion: To Avoid Financial Ruin, Get An RV Insurance Policy Today
If you’re looking for a way to become financially safe, the right RV insurance plan can go a long way in helping you avoid financial ruin.
In order to determine which type of RV insurance policy is best suited for you, it’s important that you first know what your personal needs are and what your current lifestyle is.
An RV insurance policy can be very expensive, so it’s important that you find out exactly how much coverage will cost before buying one. If you don’t have the money to pay an expensive policy up front, then it’s best to look into rent-to-own or lease-to-own policies. Renting an RV and paying off the upfront costs gradually over time will save you money in the long run.