Before you take to the streets in your new RV, you ought to invest in vehicular insurance. No matter that you are full-timing as an RV’er or as a weekend warrior: as with any other category of vehicle, you are required to become legally insured. Your rig serves not just as a vehicle but also as a home. RV insurance covers both statuses. If you already have one, you are allowed to add RV coverage to your current car insurance policy. This is because RVs face a variety of issues that differ significantly from a car, truck, van or boat and should be addressed accordingly.
Your vehicle is costly and you could lose out if an accident, disaster or emergency damages it and you carry no insurance or you are underinsured. To avoid this, we weigh your options for obtaining adequate coverage for your rig as follows:
Types of RV Insurance
There are different categories of RV insurance coverage and they account for a variety of scenarios in which your vehicle can become damaged and compensation must be meted out. To qualify, you may be a full-time RV’er, a senior citizen in retirement, traveler, vacationer, RV dealer, RV park manager and RV homeowner’s associations.
Additionally, there are structural requirements for your RV. To be legally insured, your vehicle must contain a bathroom, cooking appliances and a cooking area, an electrical system of 110 to 125 volts, potable water, heating/air conditioning, refrigeration and a sleeping area.
Insurance types for your RV take into account the affordability and physical features of your RV and whether you live part-time or full-time in your vehicle. The types include class A or large motorhome, class B or van camper, class C or small motorhome, fifth wheel, horse trailer, ice fish house, park model, pop-up trailer, sleeper unit, teardrop trailer, toy hauler, travel trailer and truck camper.
How much insurance you are eligible for takes in a variety of factors. For your RV, insurance can range between $1,000 to $2,000 a year in monthly premiums. Factors include the requirements of your state, your category of RV, where you travel whether cross-country or overseas, whether you live part-time or full-time in your RV, whether you carry expensive features in your RV and the tyep of bank loan you used to pay for your vehicle.
Coverage types include bodily injury, collision, comprehensive coverage, personal injury, personal liability policy, property damage and uninsured and underinsured motorist. Most types resemble those of standard auto insurance and are self-explanatory but, depending on your provider, each category may carry certain conditions that are not obvious but must be more closely examined in your own policy when you enroll.
Most of the insurance companies you are most familiar with through commercials, advertisement or news provide RV coverage. They include Allstate, Blue Sky, Esurance, Farmers, Foremost, Good Sam Insurance Agency, Liberty Mutual RV Insurance, RVInsurance.com, National General, National Interstate, Progressive, RV America Insurance, Safeco and State Farm.
As you may know, bodily injury insurance covers injury you cause another person. Collision coverage applies to repairs you may need after you hit an electrical pole and includes a deductible cover. Comprehensive coverage also comes with a deductible cover. It is relevant for falling objects, property damage by animals, theft of your vehicle and vandalism. Personal injury covers medical and related costs and lost wages. It is referred to as “no-fault” disability insurance. Personal liability policy does just as it states and pays for another’s injury and property damage if you cause an accident. Property damage covers you if you damage the property of another. Finally, uninsured and underinsured motorist coverage addresses you and your passenger’s bodily injury if both of you are struck by an uninsured or underinsured driver.
Additional Coverage Options
Every RV policy provider and plan is different, and some offer more coverage choices than others. Aside from the standard insurance coverage categories we outlined for you above, you can also choose from full replacement costs, storage options to suspend coverage, multi-vehicle discounts, emergency costs, personal effects, renters insurance, vacation liability, travel costs, roadside assistance, lodging coverage, RV attachments and Mexico coverage.
You may not be familiar with these categories but some may be self-evident. Full replacement cost insurance refers to receiving the full value of your RV if it is stolen or destroyed. Storage options to suspend coverage means that you can stop coverage if your RV is in storage and will not be used for a period of time. Full-time coverage mimics homeowners’ insurance and addresses injuries to visitors to your RV and any stored items.
Multi-vehicle discounts are used to cover both your RV and your standard vehicle whether that is a car, truck, van or boat. Emergency expense kicks for hotel and rental costs if your RV is in an accident 50 miles away from home. Personal effects means the value of all your belongings of your RV to be replaced if they are damaged. Renters insurance takes care of any damage to your RV when it is rented out. This especially holds true if you use the Outdoorsy or RVshare website for rentals. Vacation liability resembles full-time coverage in that it covers a non-family member at your campgrounds or in your vehicle when it is parked.
Travel expenses become active if your RV suddenly breaks down in the middle of travel and takes care of lodging in that particular case. Roadside assistance includes towing and servicing of your RV in case of an accident or emergency. Coverage for RV attachments means damage to such accessories as awnings and satellite dishes. Finally, Mexico coverage means that your RV underwent damage in Mexico but your repairs will be made in the United States.
The Right Choice
Again, no two insurance policies or providers are alike. Each differs in its offerings and this fact works towards your advantage as you man need a plan that is tailor-made for your set of RV circumstances. As a result, it pays to investigate your different options and make your own calculations before deciding upon the most appropriate coverage for your rig.
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