RV insurance is a type of insurance that covers recreational vehicles (RVs), such as motorhomes, travel trailers, campers, and fifth wheels. RV insurance protects you from financial losses in case of an accident, theft, vandalism, fire, or other damage to your RV. RV insurance also covers your liability if you injure someone or damage their property while using your RV.
The cost of RV insurance depends on various factors, such as the type, age, and condition of your RV, how often and where you use it, the coverage options you choose, and your driving history and record. In general, the average annual cost of RV insurance ranges from $200 to $3,000. However, this is just a rough estimate and the actual cost may vary significantly depending on your specific situation.
Factors Affecting the Cost of RV Insurance
The cost of RV insurance is influenced by several factors, such as:
- Type, age, and condition of the RV: The type of RV you own affects the cost of RV insurance. For example, motorhomes are usually more expensive to insure than travel trailers or campers because they have more features and are more complex to repair. The age and condition of your RV also affect the cost of RV insurance. Older and poorly maintained RVs are more likely to break down or suffer damage, which increases the risk for the insurer and the premium for you.
- Usage and mileage: The frequency and duration of your RV trips affect the cost of RV insurance. If you use your RV frequently or for long periods of time, you are more likely to encounter accidents or damage, which increases the cost of RV insurance. On the other hand, if you use your RV occasionally or for short trips, you may qualify for lower rates. Some insurers offer discounts for low-mileage drivers or seasonal users.
- Location: The location where you store and drive your RV affects the cost of RV insurance. Different states have different laws and regulations regarding RV insurance requirements and minimum coverage limits. Some states also have higher rates of theft, vandalism, natural disasters, or traffic accidents than others, which increases the risk for the insurer and the premium for you. You may also pay more if you travel across state lines or to other countries with your RV.
- Coverage selection: The amount and type of coverage you choose for your RV affects the cost of RV insurance. The more coverage you have, the more protection you have in case of a claim, but also the higher the premium you pay. You can customize your coverage according to your needs and preferences, but you should also consider the minimum requirements in your state and the value of your RV.
- Driving experience and record: Your driving experience and record affect the cost of RV insurance. If you have a lot of experience driving an RV or a similar vehicle, you may be considered a safer driver and pay less for RV insurance. If you have a clean driving record with no accidents or violations, you may also qualify for lower rates. However, if you have a history of accidents or violations, especially involving an RV or a similar vehicle, you may be considered a high-risk driver and pay more for RV insurance.
Types of RV Insurance Coverage
RV insurance offers various types of coverage to protect you from different risks associated with owning and using an RV. Some of the common types of coverage are:
- Liability: This covers your legal responsibility if you cause bodily injury or property damage to others while using your RV. This is usually required by law in most states and covers both property damage liability (PDL) and bodily injury liability (BIL). The minimum liability limits vary by state but are typically $25,000 per person and $50,000 per accident for BIL and $10,000 per accident for PDL. However, these limits may not be enough to cover the full extent of damages in a serious accident involving an RV. Therefore, it is advisable to purchase higher liability limits or additional liability coverage such as umbrella insurance.
- Comprehensive: This covers damage to your RV caused by events other than collision, such as theft, vandalism, fire, hail, flood, falling objects, animal strikes, or other perils. This is usually optional but recommended if your RV is valuable or financed. The deductible is the amount you pay out of pocket before the insurer pays for the claim. The higher the deductible, the lower the premium.
- Collision: This covers damage to your RV caused by collision with another vehicle or object. This is usually optional but recommended if your RV is valuable or financed. The deductible is the amount you pay out of pocket before the insurer pays for the claim. The higher the deductible, the lower the premium.
- Uninsured or Underinsured Motorist: This covers your medical expenses and property damage if you are involved in an accident with a driver who has no insurance or insufficient insurance to cover your losses. This is usually optional but recommended if you want to protect yourself from drivers who are irresponsible or uninsured. The limits are usually the same as your liability limits.
- Medical Payments (MedPay): This covers your medical expenses and those of your passengers if you are injured in an accident involving your RV, regardless of who is at fault. This is usually optional but recommended if you want to cover your medical bills without relying on your health insurance or the other driver’s liability insurance. The limits are usually low, such as $1,000 or $5,000 per person.
- Personal Injury Protection (PIP): This covers your medical expenses and those of your passengers if you are injured in an accident involving your RV, regardless of who is at fault. It also covers other expenses such as lost income, funeral costs, and childcare costs. This is usually optional but required in some states that have no-fault laws. The limits are usually higher than MedPay, such as $10,000 or $25,000 per person.
- Roadside Assistance: This covers the cost of towing, fuel delivery, battery jumpstart, flat tire change, lockout service, and other emergency services if your RV breaks down or becomes disabled on the road. This is usually optional but recommended if you want to avoid paying out of pocket for these services. The limits are usually per occurrence, such as $100 or $200 per incident.
- Vacation Liability: This covers your legal responsibility if you cause bodily injury or property damage to others while using your RV as a temporary residence, such as at a campground or a park. This is usually optional but recommended if you use your RV for vacation purposes. The limits are usually high, such as $10,000 or $50,000 per occurrence.
- Safety Glass Replacement: This covers the cost of replacing the windshield or other safety glass on your RV if it is damaged by a covered peril. This is usually optional but recommended if you want to avoid paying for this expense out of pocket. The deductible is usually waived for this coverage.
How to Save Money on RV Insurance?
RV insurance can be expensive, but there are ways to save money on it without compromising your protection. Some of the ways to save money on RV insurance are:
Look for Discounts
Many insurers offer discounts for various factors that reduce the risk of claims or demonstrate responsible behavior. Some of the common discounts are:
- Multi-policy discount: If you have more than one policy with the same insurer, such as auto, home, or life insurance, you may get a discount on your RV insurance.
- Multi-vehicle discount: If you insure more than one vehicle with the same insurer, including your RV and other cars, trucks, motorcycles, or boats, you may get a discount on your RV insurance.
- Safe driver discount: If you have a clean driving record with no accidents or violations for a certain period of time, such as three or five years, you may get a discount on your RV insurance.
- Claim-free discount: If you have not filed any claims for a certain period of time, such as three or five years, you may get a discount on your RV insurance.
- Low-mileage discount: If you drive your RV less than a certain number of miles per year, such as 5,000 or 10,000 miles, you may get a discount on your RV insurance.
- Seasonal use discount: If you use your RV only during certain seasons of the year, such as spring or summer, and store it properly during the off-seasons, you may get a discount on your RV insurance.
- Safety features discount: If your RV has certain safety features installed, such as anti-lock brakes, airbags, seat belts, alarm system, GPS tracking device, or fire extinguisher, you may get a discount on your RV insurance.
- Membership discount: If you belong to certain organizations that have partnerships with insurers, such as AARP, AAA, Good Sam Club, FMCA, Escapees Club, or USAA, you may get a discount on your RV insurance.
Bundle your RV policy
If you have more than one type of RV, such as a motorhome and a travel trailer, you may be able to bundle them under one policy and save money on your RV insurance. However, this option may not be available for all types of RVs and insurers, so check with your agent before buying a policy.
Establish a Storage Period
If you do not use your RV for a long period of time, such as six months or more, you may be able to reduce or suspend some of the coverage options that are not needed while your RV is in storage, such as collision and comprehensive. However, you should keep the liability coverage active at all times, as it is required by law in most states and protects you from lawsuits if someone gets injured or damages their property on your RV site. You should also notify your insurer about the storage period and the location of your RV, as this may affect your premium and coverage.
Complete an RV Safety Course
If you complete an approved RV safety course, such as those offered by the RV Safety and Education Foundation (RVSEF) or the National Safety Council (NSC), you may get a discount on your RV insurance. This shows that you are a responsible and skilled RV driver who is less likely to cause accidents or damage.
Raise your Deductible
If you increase the amount you pay out of pocket before the insurer pays for a claim, you may lower your premium. However, this also means that you will have to bear more of the financial burden in case of a claim. Therefore, you should only raise your deductible if you can afford it and are confident in your driving abilities and RV maintenance.
Shop around for Quotes
One of the best ways to save money on RV insurance is to compare quotes from different insurers and find the best deal for your needs and budget. You can use online tools such as Microsoft Bing’s web search or image search to find and compare RV insurance quotes from various providers. You can also contact an independent agent who can help you find the best coverage and price for your RV.
Here are some of the frequently asked questions about RV insurance and their answers:
RV insurance covers various risks associated with owning and using an RV, such as accidents, theft, vandalism, fire, or other damage to your RV, as well as liability if you injure someone or damage their property while using your RV. The types and amounts of coverage you have depend on the policy you choose and the options you select. Some of the common types of coverage are liability, comprehensive, collision, uninsured or underinsured motorist, medical payments, personal injury protection, roadside assistance, vacation liability, and safety glass replacement.
RV insurance lasts for as long as your policy is active and paid for. Most insurers offer annual policies that renew automatically unless you cancel them. However, some insurers may also offer shorter-term policies that last for a few months or weeks, depending on your needs and preferences. You should check with your insurer about the duration and renewal terms of your policy before buying it.
You can save money on RV insurance by looking for discounts, bundling your RV policy, establishing a storage period, completing an RV safety course, raising your deductible, and shopping around for quotes. You can also reduce your coverage or limit your usage if you want to lower your premium further. However, you should not compromise your protection or violate the law by doing so.
Yes, you can buy additional coverages for your RV insurance if you want to enhance your protection or customize your policy according to your needs and preferences. Some of the additional coverages that may be available are total loss replacement, agreed value, replacement cost personal effects, emergency expense coverage, full-timer coverage, custom equipment coverage, awning replacement coverage, and pet injury coverage. However, these coverages may not be offered by all insurers or in all states, so check with your agent before buying them.
Yes, RV insurance is required by law in most states if you own or use an RV on public roads. The minimum requirements vary by state but typically include liability coverage for bodily injury and property damage. However, some states may also require other types of coverage such as uninsured or underinsured motorist, medical payments, or personal injury protection. You should check with your state’s department of motor vehicles (DMV) or insurance commissioner (IC) about the specific requirements in your state before buying an RV insurance policy.