Owning an RV is an exciting thing that opens up your world to endless possibilities for adventure. As tempting as it can be to hit the road right away, it’s important to make sure you’re adequately protecting yourself and your investment from the hefty price tag that can come from an accident. That’s right— we’re talking RV insurance.
You can be the safest driver in the world and do everything right, but accidents can still happen. Even seemingly minor incidents can result in thousands of dollars in damage for all parties involved. Luckily, insurance coverage catered to RV owners can protect your investment should the worst occur. We know you’d rather be navigating the open road instead of the ins and outs of RV insurance, so we’ve created this nifty guide to help you out.
In this guide, we’ll cover common questions about RV insurance:
- What is RV insurance and do I need it?
- What kind of RV insurance do I need?
- What does RV insurance cover?
- Is RV coverage different if you live in an RV full-time?
- What does RV insurance cost?
Let’s get some answers to these questions.
What is RV insurance and do I need it?
Do you need RV insurance? Yes! Just like our homes and cars, RVs can (and should) be insured. Similar to other types of insurance, you’ll pay a set premium every month in exchange for coverage. That means if you get in an accident, you’ll pay your deductible, and your insurance company will cover the rest of the bill up to your policy limit. Of course, this is only if the situation is covered under your specific policy.
But RV insurance can get a little tricky— after all, you’ll find them in all shapes, sizes, makes, and models. What sort of coverage that you need and can find will vary depending on several factors. We’ll talk about that more in a bit.
What kind of RV insurance do I need?
The type of RV insurance that you need will depend on what type of RV you own.
If your RV is a Class A, B, or C motorhome, your state likely requires general liability insurance at a minimum. This is because a motorhome is drivable like an automobile, making it subject to the same insurance laws as the other cars on the road.
If your RV is towable, such as a pop-up camper or a fifth wheeler, it likely doesn’t need insurance. General liability insurance from the towing vehicle will extend to what is being towed. However, it’s still a good idea to have coverage to protect the money you’ve invested in the RV, as collision and comprehensive policies likely won’t extend over.
Even if your state doesn’t require it, there are several other entities that may want you to have insurance.
Lenders are a big one. If you’ve taken out a loan to pay off a motorhome or camper, your lender will want to make sure that they can recoup their money in the case of damage or total loss. They often require a higher level of coverage beyond what is required by state governments, so make sure you budget for this when you purchase your camper.
Some RV parks also require certain types of coverage, so be sure to check with places you plan to stay at for their requirements.
What does RV insurance cover?
You’ll find that most insurance companies offer many different types of policies, ranging from minimum liability to comprehensive coverage.
Some of the most common RV insurance policies are:
- Liability Coverage
- Uninsured and Underinsured Motorist
- Valuables Coverage
- Misc Add-Ons
This is the most basic policy type and what is generally required by law to have. Liability insurance helps pay for other’s medical bills and property damage if you are at fault for an accident. This doesn’t cover any damages that may occur to your vehicle.
Uninsured and Underinsured Motorist
Though most states require insurance to hit the road, not everyone follows the law. If you are hit by someone who doesn’t have insurance, you may end up having to foot the bill if the other person isn’t able to pay. Similarly, if a motorist is underinsured, their policy may not cover all of the damages done to your RV. An uninsured and underinsured motorist policy will prevent you from having to bear the consequences.
If you cause an accident, collision coverage will cover the cost of repairing or replacing your vehicle after your deductible is met.
Some accidents don’t happen on the road. You can run into all sorts of trouble while RVing, from inclement weather to falling tree limbs to fire. Even bears have also been known to do a number on recreational vehicles. You truly never know what’s going to happen in the great outdoors, which is why many choose comprehensive coverage. This covers most things that could happen to your RV.
If you want to protect what’s inside of the RV as well as the vehicle itself, you’ll want to add valuables coverage.
Many times, you can also add on certain features like roadside assistance, windshield replacement, towing & labor costs, and more. These will help offset some other costs should you need to use these services.
Keep in mind that not every company will offer every type of coverage. Folks often ask what is the best RV insurance, and that question is hard to answer without knowing your specific situation. It is always important to fully understand the details of coverage before purchasing a policy.
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Is RV coverage different if you live in an RV full-time?
For full-time RVers, you may be required to have a policy that’s a little different. Because your RV is acting as your full-time residence AND a vehicle, your limits may need to be adjusted to look more like a homeowner’s policy. Be sure to specify whether or not you’re a full-timer when purchasing a policy.
What does RV insurance cost?
There’s no set cost for RV insurance. It can vary based on a number of factors, including:
- The state you live in and the required limits
- The make, model, and year of your RV
- Your driving record
- Where your RV is stored and how often you use it
Some policies can cost as little as $125 a year, while others can reach into the several thousands. A small teardrop camper is going to be much cheaper to insure than a massive RV that cost six figures. The best way to figure out how much your policy will cost is to simply reach out for quotes from different companies.
With RV insurance, you can kick back and relax knowing you’re protected in the case of an accident. Even if it’s not required by your state or lender, insuring your motorhome or camper is a good idea, especially if you’ve invested a good chunk of change in it.