If you're thinking about buying a recreational vehicle (RV) when you retire so you can travel around the country, be sure you understand how recreational vehicle insurance works. Since an RV is a large investment, you need to protect it with insurance. Plus, a minimum amount of insurance is usually required by state laws.
Finding the most affordable coverage that also fits your needs can be difficult, so you may want to work with a recreational vehicle insurance broker who can compare coverage and rates from a number of carriers. Here are things to know.
Why RV Insurance Is So Important
Recreational vehicles are large and often tricky to maneuver. If you happen to get in an accident, the damage to a car or someone's property could be significant due to the size of your RV. It's not worth the risk of having to pay for damages and medical costs because you lacked insurance.
Driving with RV insurance also gives you peace of mind. A luxury Class A RV can cost as much as a house, and you wouldn't want your house to be uninsured. The insurance covers all your belongings inside the RV too, so you're fully protected with a good policy.
What Affects The Cost Of RV Insurance
The same things that affect the cost of regular vehicle insurance also affect the cost of RV insurance. Your driving history, credit score, amount of deductible, and the amount of coverage all factor into the price. However, RV insurance has additional considerations. Your coverage and cost will be different if you live in your RV for a long period instead of just taking occasional vacations.
The class of RV you drive, the value of the RV, and the accessories you have installed affect the cost of your insurance too. Plus, rates vary by carrier. That's why it's helpful to work with a recreational vehicle insurance broker who can compare rates across a large number of insurance companies.
What Perks May Come With RV Insurance
Recreational vehicle insurance may come with perks according to the company you buy your policy from. These might include coverage for towing if you have a breakdown, compensation for a roadside mechanic, vacation and campsite coverage, coverage for hotels and meals if your RV needs to be towed, and discounts on gas, camping gear, and other travel-related purchases.
Some insurance companies cater to RV owners and try to provide useful and comprehensive policies. An insurance broker can help you compare costs to determine if such a policy is a better investment than a policy that just provides the minimum coverage you need.
Share4 August 2022
Hi, my name is Dwayne Norton and this is a blog that you should read before you purchase residential insurance. This type of insurance is for home and mobile home owners, landlords and renters. It's so important that individuals have the right kind of insurance that's needed for their specific situation. It's also important that individuals don't pay for types of policies they don't need. I had to learn about residential insurance right when I purchased my new mobile home. Since I wanted to learn everything about this type of insurance, I spent many hours doing research before I actually bought my policy. I'm writing this blog so that I can share all that I've learned with other people. It's my intention to help others discover what they need to know about residential insurance.