RV Insurance 101: Your All-in-One Guide to Protecting What You Love

Let’s talk about that thing you don’t think you need until it’s too late. Yup, you guessed it – we’re talking about insurance. Though you might think a simple RV trip to the State Park to be a harmless excursion, the possibility of calamity is always just around the corner. Consider this statistic; there are on average, more than 70,000 accidents involving an RV or camper in the United States per year. And while this is a much smaller number than personal vehicles, it’s important to take into account the fact that RVs make up such a small minority of all vehicles on the road when compared to their smaller counterparts. 

If you’re planning on getting out in about in your RV, camper, or mobile home, you might want to consider taking out a policy to insure, not only your vehicle, but the people and items inside. But before you begin Googling “Cheap RV Insurance”; check out all this helpful information we’ve gathered for you on insuring your RV.

What is RV Insurance?

RV Insurance is a policy that you take out on a recreational vehicle, camper, or mobile home, for which you are charged a monthly, quarterly, or annual premium (depending on your plan) and which will offer some financial protection in the event of an accident, theft, vandalism, or natural disaster. RV insurance is different from car insurance. To protect an RV, you must consider all of the various belongings, attachments, and liabilities involved. RVs tend to be much more valuable than a single-family car, which makes the process of insuring these vehicles a bit more complicated. Below is a list of considerations to be aware of before taking out an RV insurance policy.

Personal Belongings 

RV life can be as luxurious or as basic as you want it to be. For many, an RV becomes a home away from home. This means many of your most valuable belongings (think electronics, jewelry, passports, expensive clothing, or outdoor equipment) will be housed in your vehicle. You’ll want to account for the value of these items as you consider policies in case of theft or destruction. 

Vacation Liability 

Vacation liability coverage is a type of insurance coverage that is commonly included in RV insurance policies. It provides protection for bodily injury or property damage that you or your family members may cause to others while you are using your RV as a temporary residence or vacation home.

Specifically, vacation liability coverage will pay for legal fees, medical bills, and other expenses associated with injuries or damages that occur inside or outside of your RV while you are using it for vacation purposes. This coverage typically extends to accidents that occur at your campsite, in the parking lot of a campground, or on the road while you are driving your RV.

Vacation liability coverage is not the same as liability coverage for your vehicle. While liability coverage for your RV will protect you if you cause an accident while driving your vehicle, vacation liability coverage provides additional protection for accidents that occur while you are using your RV as a temporary residence.

Special Equipment & Attachments 

RV insurance can be fine tuned to account for special pieces of equipment that are permanently attached to the vehicle such as a satellite dish, retractable awning, or built-in generator. 

Full Replacement vs. Purchase Price 

Full replacement coverage means that your insurance company will pay to replace your RV with a brand new one of the same or similar make and model, regardless of the original purchase price or current market value. This coverage is usually only available for RVs that are less than a certain number of years old, typically around one to three years old.

Coverage that pays out the purchase price of the vehicle on the other hand, means that your insurance company will pay you the original purchase price of the RV, minus any applicable deductibles, taxes, and depreciation. This coverage is typically available for RVs that are older than the maximum age for full replacement coverage.

The main difference between these two types of coverage is the amount of money you will receive in the event of a total loss. With full replacement coverage, you will receive enough money to purchase a brand new RV, while with restoring the purchase price coverage, you will receive the original purchase price of the RV, which may be significantly less than the cost of a new RV.

Roadside Assistance & Towing 

Roadside assistance and towing coverage for RVs is a type of insurance coverage that provides assistance in the event that your RV breaks down or becomes disabled while on the road. These coverages typically offer an all-inclusive roadside service for a monthly premium. 

How Much Does RV Insurance Cost?

The cost of your RV insurance policy depends on a number of factors:

1. Make and Age of the RV

   The make and age of your RV can have a significant impact on the cost of your insurance. Newer and more luxurious RVs will cost quite a bit more to insure than older, more basic models. 
   
   

2. How you use the RV 

   If you use your RV for frequent or extended trips, you may pay more for insurance than someone who only uses their RV occasionally.
   
   

3. Your driving record

   Your driving history can also impact the cost of your RV insurance. If you have a history of accidents or moving violations, you may pay more for coverage than someone with a clean driving record.
   
   

4. Location

   Where you live and store your RV can also impact the cost of your insurance. Some areas may have higher rates of theft or damage to vehicles, which can increase your insurance costs.
   
   

5. Deductibles

   The amount of your deductible—the amount you pay out of pocket before insurance kicks in—can also impact the cost of your RV insurance. Generally, higher deductibles can lower your premiums, but may also mean you pay more out of pocket in the event of a claim.
   
   

What are the Risks of Going Without RV Insurance?

If you risk going without RV insurance, you might find yourself in a real financial bind in the event of an accident, injury, or natural disaster. While an RV typically doesn’t cost as much as a permanent home, it’s still a sizable investment. The cost of totally replacing an RV can be astronomical. More importantly, in most states, you are required by law to at least carry liability insurance on your motorhome if you plan to drive it anywhere. Therefore, if you choose to completely forgo insurance, you not only risk financial burdens, but legal consequences as well.

What are the Best RV Insurance Company’s?

1. Progressive

2. National General

3. Geico

4. Auto Owners

5. Nationwide 

6. Blue Sky

7. Allstate

8. Farmers

9. Country Financial

10. Safeco

So, since you’re likely the type of person that thinks of everything before launching out on an RV expedition, check out our Ultimate RV Camping Checklist to make sure every detail is covered for your next camping trip! Happy trails!