Like home, auto, and renter’s insurance, people who own recreational vehicles, or RVs, should also carry an appropriate insurance policy. However, insuring an RV may not be as straightforward as choosing an automobile or home policy. Determining the best type of RV insurance will depend heavily on the type of vehicle that will be covered by the policy and how the driver intends to use it.
Full-Time vs. Part-Time
When people think of RVs, traditional motor homes generally come to mind. However, travel trailers and medium duty tow vehicles may also be covered by RV insurance. Certain vehicles are obviously intended for limited use and may not be used for full-time dwelling while others can be used for travel and as a living space all year. People who wish to only use their vehicle seasonally may be able to take advantage of benefits insurance companies offer to part-timers. Examples may include a lower premium rate during the times of year when the vehicle will not be in use.
However, people who intend to travel and live in their RV full time should opt for full-time coverage. Emergency insurance that will cover a vehicle in the event of fire or other damage is also recommended for policy holders who choose to use their RV for residential purposes. In addition to insuring the vehicle itself, RV owners should consider the items they plan to store in the vehicle’s cabin. Not getting enough insurance is a common mistake many recreational vehicle owners make. Insuring the contents can come in handy in the event that an expensive electronic or other item is stolen or damaged.
Insuring Valuable Additions
Choosing a policy that covers upgrades that have been made to an RV is wise for recreational vehicle owners who have invested a significant amount of money in adding enhanced technology, appliances, and furniture to their vehicle. Upgrades should be treated as an investment in the overall quality of the vehicle and should be insured as such.
Similarities With Auto Insurance
While RVs are a different variety, there are some similarities people should consider when choosing coverage. People generally feel safe inside an RV due to its size. However, injury is still possible. For this reason, RV owners should consider obtaining medical coverage. Having uninsured motorist coverage is also a necessity as accidents with inadequately insured motorists may still take place when driving an RV.