Top Ten Tips Choosing the Right RV Insurance
This is a list of things to keep in mind if you are trying to decide on specialized Recreational Vehicle insurance (RV) and need an idea of where to start, what to keep in mind, and what companies offer RV coverage. After deciding on the right insurance coverage for your needs be sure to get insurance quotes from several companies before you choose a coverage.
1. RV Trailer Insurance
Many RV owners believe that since their car insurance covers their RV travel trailer, and that they don’t need any other coverage. That’s not the case. In most cases your RV trailer is only covered while it is hooked up to the towing vehicle with most regular insurance policies. To have motor home insurance coverage, or for RV trailer when it’s not hooked up, it would be wise to consider specialty RV insurance.
2. Medium Duty Trucks
Trucks over 10,000 lbs. that are used to carry truck RV’s are not covered by many normal policies, and so require specialty insurance.
3. Recreational Vehicle Theft or Accident Replacement Policies
Check the insurance policy of the company, or companies, that you have in mind to see if they offer to pay the Actual Cash Value (ACV), Agreed Value, or Total Loss Replacement (TLR) in case of loss or theft. These coverages have a huge affect on the price of the policy. ACV is the market value of the RV and is decided by third party sources, Agreed Value means that the company agrees to an amount up front with the policy holder, and TLR means that the company will provide the insured with a new replacement RV if the lost or stolen one is less than five years old.
4. Emergency Expenses
For those living in a RV on a full time basis, this specialized RV option is an especially good idea. It reimburses any expenses that are incurred living outside the RV while it is being repaired after an accident or mechanical failure. This option usually is dependent upon the insured being within a certain amount of miles from their home, and covers hotel, food, and car rental to get back home.
5. Towing and Roadside Assistance
In case of an accident or mechanical failure an RV’s can cost up to three times more than a normal car to tow, an expense that is not covered in every policy, or if it is it may only be partial coverage.
6. Saving money on collision Coverage
Most owners don’t live full-time in their RV’s, storing them during most of the year. Some parts of a policy that apply only to when the RV is moving, like collision coverage, and may be suspended while not in use. Doing so can save the unnecessary expense of unneeded coverage.
7. Higher Personal “Vacation” Liability Limits
An RV owner can be held liable for injuries sustained as a result of an accident while on vacation. Most people are not aware that this can also include instances where the RV is immobile and someone is hurt in the area around it.
Specialty Recreational Vehicle coverage gives an owner higher coverage limit than other policies on incidents of this sort, paying out a capped amount in case of a mishap.
8. Stolen Property Replacement Coverage
A Specialized RV policy gives the insured the option of choosing the amount covered in case of theft, allowing them to make sure that the amount paid in case of theft will be enough to replace the stolen property.
9. Full-time Residence Liability
In the same way vacation liability does, residence liability covers the treatment of people who are injured in or around the RV, but is for RV’s that are permanent residences.
10. Insurance Companies Offering Recreational Vehicle Insurance
There are several online insurance companies that specialize in RV policies and have good insurance rates. Here are three of the top rated companies:
- Gilbert RV Insurance
- RV America Insurance
- Good Sam RV Insurance
Each of these companies can be found with additional online searches, most will give online insurance quotes. Compliments of Northern California RV Parks
Other articles you might like;
