Having an RV insurance policy is as important as owning an RV. You can always have a financial safety net to fall back on should you experience an unfortunate event with your RV. Many state laws require that RV owners insure their motorhomes. It is financially unsafe to own an RV without any coverage. Whereby it gets stolen or damaged, you are left to purchase a new RV or fix the damaged parts with your hard-earned money, which is more expensive.
In this guide, we will put you through on getting the best RV insurance deals for your needs, whether it be minimum insurance coverage or a full-option policy.
What Is RV Insurance?
RV insurance is a type of insurance policy that protects RVs and RV owners against specific losses and challenges. This insurance is not just limited to individuals with motorhomes, but also those with small campers, towable trailers, toter homes, small pop-up campers, teardrop trailers, fifth-wheel trailers, and many more.
Types Of RV Insurance
Getting an insurance policy will depend on how you use your RV, either occasionally or full-time. Drivers in either of these categories have different insurance coverage.
For occasional RV drivers and those who spend less time in their motorhomes or trailers, purchasing a part-time insurance policy is the right call. Also known as campsite insurance, this policy covers some important areas, like medical expenses for you and your passengers.
For full-timers, their RVs can be likened to their homes. They drive it or live in it all the time. For this reason, they need full-time RV insurance. Having this policy protects them from theft and damages. Such people can benefit from coverage like homeowner’s insurance policy, medical expenses, medical payments, and emergency coverage.
An RV insurance coverage includes personal property and belongings coverage, personal attachments coverage, uninsured motorist coverage, full replacement cost coverage, collision coverage, storage coverage, medical payment coverage, roadside assistance, comprehensive coverage, vacation liability coverage, emergency expense coverage, and vacation liability coverage. You can learn more about these individual coverages here: https://www.thewanderingrv.com/rv-insurance-guide/.
Why you need to have RV insurance
RV insurance is more than just purchasing any auto insurance policy. This is because RV insurance involves both home and auto insurance and can include some special coverage options.
This doesn’t mean that this insurance should cost you as much as home insurance unless your motorhome is worth tons of money. Keep in mind that an RV is considered as a motor home, camper van, motor coaches, professional and non-professional bus conversions. Therefore, to be regarded for RV insurance, it needs to run on a motor, and also have some extra features like a bathroom, cooking appliances, and many more.
So when buying RV insurance, you should understand that your RV is a home on the wheel, especially when you’re not at home. Like your home, an RV may have valuables that can be more than your standard coverage. Besides, you should consider other liability issues like you or someone slipping and hurting themselves while inside the RV.
That said, you need to know that the need for insurance usually depends on your level of risk. This risk can depend on various factors, such as the amount of time your spend in your RV, the cost of repairs, and the personal belongings you keep in your RV.
Many insurers offer a variety of coverage options like vacation liability coverage which applies to your RV when it’s parked and being used as a home and emergency expenses coverage that you can use to pay for lodging when your RV is damaged and you’re far away from your home.
The best part is that the insurer can assist you to figure out your financial risk and which RV insurance makes sense for your situation. Also, they can work out the calculations to determine the cost of insuring the RV and show you the available coverages.
How RV insurance works
No doubt, RV insurance can protect you. This means you don’t need to worry about excessive out of pocket expenses in case of an RV loss or if you are involved in an accident that caused property damage or injuries. Even better, it can also offer compensation for expenses due to a roadside breakdown. Below are some of the scenarios of how RV insurance works:
- If another vehicle collides with you but you are uninsured or have under insured coverage, your insurance company can pay for the damages. But the amount of compensation usually depends on the extent of the damage, the limits on your policy, and your deductible amount.
- If you are considered to be an at-fault party in the accident, the other party can file a claim from your insurance company. This means your insurance company has to pay the claim depending on the limits of your policy. You will be required to pay the costs for any damages or injuries out of pocket if the costs go beyond the limits of your policy.
- Your insurance is responsible for towing your disabled RV. The insurance company will also provide coverage for the losses due to the RV being stolen, damage caused by a hail storm, or an animal causing damages to the RV.
Best RV Insurance Companies
The insurance coverage you get is as good as the company you get it from. In this guide, we have selected some of the top-rated companies that provide the best deals on RV insurance.
This specialty insurance company is one of the best in the industry with a wide range of insurance products for all individuals, including RV owners. They are available round-the-clock to render assistance on inquiries, requests, and complaints.
Good Sam provides full-time insurance, RV storage options, and other features as well. Located in all states, their services extend to other car insurance policies that are non-RV related.
Founded in 1920 and formerly known as GMAC Insurance Group, National General provides other insurance companies with insurance policies. This insurance company is highly rated A+ by the Better Business Bureau (BBB) and operates 24/7. Regardless of your location within the country, you can easily access them for quotes and other inquiries.
If you are looking for one of the best RV insurance firms for your camper vans, towable trailers, or motorhomes, then RVinsurance.com is your go-to insurance company. They offer one of the most affordable rates on insurance. RV owners and drivers can enjoy flexible policies.