If youâve decided to purchase a recreational vehicle, you are joining a large and growing group of Americans. According to the RV Industry Association (RVIA), 11.2 million US households own a recreational vehicle.
This tremendous growth extends to all ages, as the average age of a first-time RV owner is now 32, down from 41 just two years prior.
What does RV insurance cover?
Just like your car and your house, if you have secured a loan to purchase your RV, your lender will almost certainly require you to have insurance coverage.
Even if you donât have a loan for your RV, you will want to protect your purchase. And, most states require RVs to have basic insurance coverage. But what exactly does RV insurance cover?
Basic RV Insurance Coverage
Basic RV insurance takes a variety of factors into consideration. With so many different types and styles of recreational vehicles, one of the first questions youâll be asked is what kind of RV you own. Travel trailers, Class A motorhomes, truck-top campers, and teardrop trailers are all very different, and so will require different amounts of coverage. There are some common elements, including the following types of coverage.
Bodily Injury Coverage
If you are in an accident with your RV and are found to be at fault, bodily injury coverage will help to pay for things such as the injured partyâs medical bills and lost income while they are recovering. The majority of states require RV owners to carry bodily injury liability insurance.
Uninsured Motorist Coverage
This coverage requirement varies from state to state, but itâs a good idea to have uninsured and underinsured motorist coverage on your RV policy.
It is designed to protect you in the event that youâre in an accident that is the other driverâs fault, but they either donât have any insurance coverage (uninsured motorist), or donât have enough coverage (underinsured motorist) to pay for the damage or injuries theyâve caused.
Property Damage Coverage
This coverage is for accidents that involve another personâs property. If you are driving your RV and slide off the road, hitting a gate or destroying some landscaping, this is designed to help cover the damage.
Collision Coverage
If youâre in an accident with another vehicle, collision coverage will help cover the cost of repairs to your RV. In addition to being a really good idea to have, most lenders require owners to carry collision coverage if you are financing or leasing your RV. Damage from an RV collision can be expensive, given the number of systems and parts that go into many of the newer motor homes on the road today, so this is important coverage to have.
Comprehensive RV Coverage
Comprehensive RV insurance coverage is to help you to pay for damage to your recreational vehicle that happens outside of a collision. Some examples of when you might need comprehensive coverage are things like theft, vandalism, or fire.
Itâs important to read your policy and understand what it covers. Because an RV both travels and is a living space, there are situations and systems that could failâlike a water line to a sink, or a kitchen fireâthat more closely resemble the concerns of a homeowner, rather than a driver.
Maintenance is an important part of ownership, whether it is a car, a home, or a recreational vehicle. As with car insurance and homeowners insurance, damage that is determined to be the result of a lack of proper maintenance is unlikely to be covered by your RV insurance.
Medical Payments Coverage
This coverage will help pay for medical bills for you and/or the passengers in your RV, if you are in an accident with injuries.
Optional RV Coverage
RVs are frequently an expensive purchase, and having the right insurance coverage can help to protect you from the sudden and sometimes surprising damage that can happen. Optional coverages available can vary by state and by insurer, but here are some examples of additional insurance riders you might want to add to protect your RV.
Replacement Cost Personal Effects â As mentioned above, you use an RV differently than you use your car, since it functions as both a vehicle and a living space. Personal effects coverage insures your âstuff,â and will help to replace personal property that is damaged or destroyed in a covered event.
Roadside Assistance/Towing & Labor â Some basic RV policies offer this, or it can be offered as additional coverage. If you are planning on a long road trip in your RV and roadside assistance isnât part of your basic policy, consider adding itâif you need a tow or a tire change, youâll appreciate the coverage.
Vacation Liability â This offers liability coverage for injuries or damage that occurs at a vacation site, such as someone tripping and getting injured in your RV when it is parked at a campsite.
Windshield Safety Glass Replacement/Windshield Deductible Coverage â This coverage helps to pay to replace a cracked, damaged, or broken windshield.
How can I get a quote for RV insurance today?
Contacting the experts at Guaranteed Rate Insurance is a great place to start if you are looking for an RV insurance quote. They will help find the best plan for how you use your RV, whether you are on the road year-round, or an occasional camper.
Disclaimer:
*Savings, if any, vary based on the consumerâs profile and other factors. Contact your insurance agent for more information. Restrictions apply.
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