Pros and Cons of RV Insurance

Sep 24, 2020 | Personal Insurance

Driving your RV or a rented one off the road to travel is a great way to unwind. You’ll be seeing landscapes and beautiful views along the way and in your destination. It gives you the comfort of traveling while appreciating the scenery that surrounds you.

Enjoying your RV has its perks and also rising worries as you go along the way. You get to enjoy the features of the motorhome that stood as your temporary home while on your trip. Others even make it their permanent residence. But apart from these, you also thought of how to maintain the good standing of your vehicle and your protection from the outside. 

How about your safety while on the road or while camping? Do you consider availing an RV insurance? Have you wondered about its pros and cons and weigh everything before buying it?

It is a good choice to invest money in insurance when we’re talking about your safety and security. However, you must put into consideration the advantages and disadvantages that it entails.

Advantages of RV Insurance

Traveling on the road has its risk as well as staying in one place where you planned to have your vacation. It’s best to spend on buying insurance for your recreational vehicle that will protect you in times of trouble and uncontrollable circumstances.

Different coverages will fend for you. Your passengers are your responsibility. So whatever happens while on your journey, you are accountable for their welfare. You’ll be surprised or even shocked by sudden incidents you might encounter that you are not prepared for.

  • Liability coverage will cover for you and also the lots and campsite you’ve rented. If ever you’ve caused injury to other people, your insurance provider will pay the bills of their medication and also yours and your passengers. They will pay for the loss and damage you have caused to others’ property and vehicles.
  • Collision coverage compensates for the damage you have brought to others during an accident. It doesn’t matter who is at fault because they will cover for you. Even incidents of bumping to other objects like trees and crashing against surfaces that will lead to a lot of risks.
  • Comprehensive coverage covers for your RV and even when it is not in use. It pays for the damage and replaces for the loss of your RV other than collision. These damages include theft, fire, natural disasters, falling objects, and vandalism. 
  • Underinsured/ uninsured motorist coverage protects you from motorists or drivers without insurance or whose insurance doesn’t cover fully for the harm they might cause to you and others. Some can’t pay for the damage due to a lack of money. This coverage got your back in times like these and will pay for the offenses.

Valuable features of your RV are well-protected. RV is just like your home, you have essential components inside it that you want to protect and preserve. Since your motorhome can be your residence too, you’d want to keep your possessions intact and unscarred.

  • Your policy will pay for the loss that might happen with your property and will cover for the features like your refrigerator and other basic appliances inside your RV. 
  • Also, for the upgrades you have made, you could implement additional coverage. These additions include:
  1. Pet coverage pays for the expenses on veterinary consultation if your pets got hurt or wounded in accidents.
  2. Emergency expense coverage pays for hotel bills and transportation through reimbursement of emergency expenses in case your RV was lost.
  3. Personal effects replacement cost coverage pays for the damage and protects your valuable stuff like furniture and personal belongings that you have brought within your motorhome.
  • Being able to grab an RV insurance gives you the feeling of being secured and free from frets that will upset you in the long run. Since you won’t be using your RV most of the time, you can find better options for you. 
  • If ever you just want to use it during vacation, some providers allow temporarily shutting off some of your coverage until you use it again and start driving. This way, you can save money and have it protected at the same time.

Disadvantages of RV Insurance

After lingering on the advantages, how about the disadvantages? What might be the downside of availing an RV insurance? 

Restrictions hinder you from availing it. As much as you want to avail of this insurance, there are guidelines that your provider strictly follows. These help them figure out if you are qualified to avail of their policy.

  • Customizing or altering some features on your RV to change its look or performance is subject to approval like modifying original specs from the manufacturer.
  • Depending on your record on a legal basis, if you had committed any fraud case, more likely you won’t be given a chance to have insurance. Even refusal or rejection to comply with providing the documents needed is restricted.
  • Other issues that will give you a hard time owning one is keeping your RV as your permanent residence. This will cause a higher amount of insurance policy because their policy claims that you will pay more if you’ll use your RV more often.

Insurance cost varies depending on location. Planning to buy insurance for your RV requires stating your address for verifying your eligibility to avail it.

  • If you will choose a place that has more risks like hurricanes and is prone to crimes, you have to pay for a higher amount of RV insurance. 
  • The same goes for the location of where you planned to store your RV. Storing your RV in a place where the high cost of living exists, will most likely give you a higher policy computation from your provider.
  • Choosing residence, for full-timers, is very important because this will conclude where your RV is registered. It states the zip code or address that will be used for insurance purposes. However, it is more favorable for full-timers than RVers because they can choose more locations to store their motorhome.

The cost of your RV will determine the cost of your policy. Owning an RV and have it insured has its consequences especially when talking about the cost. We all know that this kind of insurance for RVs is quite pricey. The more expensive your motorhome is, depending on its class, the more expensive your insurance premium will be.    

However, some insurance companies offer premium discounts if you add some personal security stuff in your vehicles like anti-lock brakes, back-up cameras, airbags, anti-theft devices, and steering wheel locks. Just make sure to mention it to the agent or representative of the company to know whether they honor these things to avail of discounts.

After gathering all the pros and cons of RV insurance, it will boil down to weighing up conclusions. Try to ask a licensed and reputable agent to supply the answers that are still unclear to you.

Discussing each detail with you will make you come up with your final judgment. You can then start deciding what coverages you’re going to pick, the location of your RV storage when not in use, and most especially the cost of the premium.

Living and driving your RV is an experience worth taking. But apart from all the benefits of traveling within this dashing vehicle, comes the call for security and safety that only an insurance provider can give.

Should you have any questions or suggestions, please do contact us and we’ll get back to you right away.