You are going to need to protect your investment and protect yourself while taking the road trips that you love.
What is Different About RV Insurance?
An RV can be considered to be a home but on wheels. This insurance will combine homeowners’ and auto insurance so you are covered. The price will be less expensive than most auto insurance policies. The amount of coverage for your RV will depend on your policy. There are different coverage options.
- Total loss Replacement: If the RV is totaled this policy will replace it with a new one or it will pay out the initial purchase price. This will depend on the age of the RV at the time of the accident. This policy is usually recommended for RVs the first five years that you own them. After this time this policy usually turns into a Purchase Price Guarantee or an Actual Cash Value policy.
- Purchase Price Guarantee: This policy will pay out the amount of money you paid for the RV towards the purchase price of another RV. Some insurance companies will honor this for as long as you own the RV some companies will honor this policy for the first 10 years that you own it. After this time it will change to an Actual Cash Value policy.
- Actual Cash Value: This policy will pay out fair market value with prevailing depreciation for the RV. This is the most common policy that an RV owner will get.
- Vacation Liability: This coverage will protect your RV when it is parked. If you are at a campsite and someone is hurt this insurance will cover a specific amount based on the policy.
- Full-Timer Coverage: If you live in your RV full time you need this coverage. This coverage will provide liability protection as well as living expenses if something happens to the RV.
- Diminishing Deductible Coverage: Each year that you are claim-free the amount you pay for comprehension and collision deductibles will be reduced by 25 percent. Eventually, you can reach a zero deductible. If you make a claim after being claim-free for four years, you do not have to put any money out of pocket.
- Personal Contents Coverage: This insurance will cover personal property including houseware, tools, clothing, and other items. This policy will replace items that are lost or stolen at the full value that it will cost to purchase new ones.
- Add Ons and Dollies: Many people have antennas and external racks on their RV. These items including tow dollies or trailers will also be protected.
- Agreed Value Coverage: As long as you have a bill of sale you can lock in the value for coaches and bus conversions up front. You do not have to worry about depreciation.
- 24 Hours Road Side Assistance: This policy will cover your RV if it needs to be towed to the nearest qualified repair shop. This policy may also cover towed vehicles in addition to the RV.
- Emergency Travel Expense: If your RV breaks down this policy will provide a rental car or a hotel room while the RV is being fixed. If the RV cannot be fixed then the policy will cover the airfare for your family to return back home.
- Experienced Claims Handling: This insurance will allow you to rest knowing a professional will work with you if you have a major loss. You will work with someone besides the typical auto adjuster.
- Insurance Discounts: Ask the insurance company what types of discounts they offer. Some will offer money off the policy for belonging to an RV club, having an advanced braking system, or completing a safe driving course.
- Where to Find a Provider: When looking for RV insurance check with RV clubs for recommendations. The internet is a great place to look as well. Even the dealership where you purchase the RV can put you in touch with an insurance company.
The coverage that they offer may vary a little from the descriptions above. Before signing the policy take the time to carefully review it.
If you are an RV owner then you need to get protection for your RV. Be sure to compare quotes between insurance companies. You can protect yourself and the lifestyle that you love with specialized RV insurance.