Is RV Insurance Worth It?

Jan 9, 2022 | Personal Insurance

Is RV Insurance Worth It?

First of all, Recreational vehicles are lovely and unique. It avoids hotels and planes to travel more cheaply. Living in an RV full-time requires Full-Time RV insurance. Your house insurance won’t cover an RV you buy or rent. You may own an RV and question if insurance is worthwhile. Is RV insurance worth it?

RV Insurance 101

RV Insurance helps to cover your losses financially if your vehicle caused injury or damage to property. Similar to an auto insurance policy, RV Insurance is designed for the vehicle, including all of its types. This may be independently driven or towed. 

Vehicle Types that are classified under the RV category: 

  • Luxury coaches
  • Recreational vehicles
  • Travel trailers
  • Camper vans
  • Converted buses
  • Motorhomes

Standard Coverage for Recreational Vehicles 

The standard coverage for basic insurance coverage for your motorhome can depend on what you can afford, what you need, and your provider’s advice. 

Liability for Body Injury

This helps pay for injuries to a person’s body resulting from an accident.

Property Damage 

It helps pay for damages to property that resulted from the accident you are liable for.

Uninsured or Underinsured Motorist Coverage

As the title implies, coverage and reimbursement is provided as policyholder sustains injury from an underinsured or uninsured motorist.

Medical Fees 

Assists you and anyone onboard your RV in paying for medical expenses.

Comprehensive 

This covers you from a wide range of events that could harm your motor home. Other coverage include natural events like typhoons, hurricanes, flooding, hail, theft, vandalism, and accidents like fire. 

Collision

This prevents you from colliding with anything like a lamppost, mailbox, building, fence, and much more that damages your motorhome. 

Other Important Coverages For Your RV

Here are some valuable additional coverages that you can get for your recreational vehicle.

  • Equipment Coverage is the one that usually covers custom parts added after sales. 
  • Windshield replacement or Safety Glass replacement 
  • Total Loss Coverage pays for replacing your RV if it is totaled after an accident.
  • Emergency Coverage pays for the expenses of living in a hotel in the event your RV is entirely unlivable or totaled. 
  • Replacement Coverage or Accessories Coverage for your awningsolar panel, or satellite dishes, if there are any.  
  • Roadside Assistance includes services like towing and jump-starting your vehicle.
  • Full Timers Coverage, Full-Time RV Coverage, or Package is the one that covers you if you are using your motor home as a permanent home with no other declared properties.

Buying Your Very First RV

  • Winter is the slow season for RV sales and is the best time to buy.
  • Many salespeople like to show off their vehicles to buyers.
  • Used RVs might save you money over time.
  • In their excitement and adventure, people sometimes lose sight of what could go wrong.
  • To acquire a towable motorhome, you must know its weight.
  • You can buy an RV based on how many people will live in it.

The Cost Of RV Insurance 

There are different factors affecting the cost of RV insurance, and here they are: 

  • The condition of the vehicle, being new or used
  • For leisure or as a permanent residence 
  • How old is your vehicle is
  • The type of RV that you own falls under these classes: 
    • First, Class A: Big RVs that are very similar in size to a tour bus at around 75 feet in length
    • Second, Class B: RVs that are very similar in size to that of a van 
    • Third, Class C: RVs that are in between Class A and B and usually have an over cab sleeping area

Above all, RV insurance is similar to auto insurance. It covers crucial things and weighs the hazards of full-time or temporary living on it. Protecting your RV is a wise investment. Denver, Colorado’s Advantage Insurance Solutions can help you today!

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