What Is RV Insurance?
Owning a recreational vehicle, or an RV, is like owning freedom. You have freedom to travel and explore the country. You enjoy freedom to vacation or even live wherever you choose. However, one thing you are not free to do without is RV insurance for your travel and living investment. RV insurance is much like auto insurance, but there are special things you should know and unique coverage options you should consider when purchasing an RV insurance policy.
An RV may range from a fully drivable motor home to a fifth-wheel or travel trailer. All are prone to damage caused by accidents on the road, accidental weather or fire damage, or by theft or vandalism. Thus, an RV should have the proper vehicle insurance coverage policies in place, such as liability, collision, comprehensive, medical, towing, etc.
Additionally, there are special insurance coverage options designed particularly for RV's that can be helpful.
- Full RV Replacement - If you own an RV that suffers a total loss in an accident or is stolen, full replacement coverage will assure that the insurance company provides you with a new, comparably-equipped RV of the same or similar make and model.
- Personal Effects - Your RV most likely has a lot of personal property inside the vehicle. Personal effects coverage will provide full replacement of your personal property. There is usually a limit, but similar to a homeowner personal property insurance policy, you can purchase additional insurance coverage for higher-valued items.
- Fulltimers - Some individuals and families choose to live in their RV and make it their primary residence. Full timers coverage provides insurance much like a homeowner's policy, giving you personal liability, personal property, and protection from injuries around your home.
- 24/7 Roadside Assistance - RVs, like any vehicle, may suffer a breakdown. Having roadside assistance with towing allows you to get your RV off the highway and to a safe place, or even straight to a repair shop.
Other RV insurance coverage options are available that may come in handy such as:
- Locksmith
- Low branch damage
- Accessories protection
Suspend RV insurance coverage
Your RV may not be in use all the time. If you are not a full-time RV dweller and only use your RV for infrequent vacations, you may want to request a suspension of coverage from your insurance company. A suspension request will hold your collision and liability coverage options in pause while your RV is in storage. Comprehensive coverage, however, should always remain in force in case of damage caused by weather, theft, or vandalism. However, by suspending coverage, you can save a lot of money on your RV insurance.
Whether your RV is for recreational use or is your primary residence, you should have the proper insurance coverage options in place. Take an assessment of your needs and be sure to get the right RV insurance for your investment.
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