RVs and Travel Trailers offer great opportunities to camp, vacation, and see the country. So, it's no surprise that over 8 million Americans are proud RV owners.
When it comes to insuring an RV however, some happy campers leave themselves vulnerable to expensive claims and potential damage repair costs. This can be avoided! An RV is not only a financial investment, but also represents dreams, memories and hopes. Of course, you will want to have adequate protection for your investment.
It is true that an RV can be added to an Auto insurance policy with a special endorsement. However, we strongly recommend a stand-alone RV insurance policy because it provides much broader coverage.
A stand-alone policy does not necessarily come at a higher cost. In fact, in many cases, a stand-alone RV policy actually costs less than the endorsement to your auto insurance, although it provides broader coverage!
Here is what you get from an RV insurance policy:
An RV policy is very similar to an auto insurance policy, in that it provides some of the same coverages as your car insurance, just adapted for the larger size (and the usually higher cost for repairs) of an RV.
Bodily Injury / Property Damage Liability
This coverage pays for any damages or injuries that you cause to another party
Uninsured / Underinsured Motorist
Pays for your losses if the person who hit you does not have insurance or the financial resources to pay.
This coverage may be used to pay for your necessary medical expenses in case of an accident, regardless of who is at fault.
Comprehensive / Collision Coverage
Pays if your RV is stolen or damaged, regardless of who is at fault.
In addition, RV Insurance provides extra coverage that apply specifically to the size and exposure of an RV:
- Replacement Coverage
One of the biggest advantages of stand-alone RV insurance is that it offers “replacement coverage” while your auto policy will only cover your RV for “actual cash value”. That means if your RV is totaled and insured on a separate RV policy, your insurance will pay the cost to replace your RV. Your auto insurance will only pay what your RV was worth at the time of the loss. At the quick rate that all vehicles depreciate in value, that won’t be as much, especially if your RV was an older model.
- Roadside Assistance
An auto insurance policy provides limited towing coverage, and the towing coverage you get on an auto policy is, well, designed for a car. An RV is bigger, heavier, and much more difficult to tow, not to mention that RV repair shops are far and few between, as opposed to car repair shops. Adequate towing coverage makes sense for an RV.
- Disappearing Deductible
Stand-alone RV Insurance also offers another the stand-alone deductible: Every year that you have been driving your RV claims- and accident-free, your deductible will drop 25%. Yes, your math is correct: That means, after four years without a claim or an accident, you will have a zero deductible on your RV Insurance.
- Emergency Expenses:
This coverage is automatically included with Comprehensive / Collision coverage and applies if a fire department needs to be called to save your RV, your RV insurance will cover the cost.
- Vacation Liability:
This optional coverage can protect you if you are held liable for bodily injury or physical damage to another person, for example if a guest falls off the steps of your RV. Coverage limits are available from $10,000 to $500,000.
- Contents Coverage:
Contents coverage protects your personal property that you take with you on your RV trip (all your luggage, sports gear, camera, electronics, jewelry, or other items that are not part of the basic installed equipment of your RV.) If you have homeowner’s insurance, your homeowner’s policy will extend to cover your personal belongings, but after 30 days, this coverage drops to $10,000. If you plan on taking high-value items that exceed this limit, consider Contents Coverage for your RV. (Keep in mind that your TV, stove, and other built-ins are actually not part of your ‘personal property’, but are considered built-ins and are covered under your RV insurance.)
* Please Note: Insurance policies vary from company to company and from State to State. Not every Washington State insurance policy will include every coverage described above. Be sure to read your policy and check with your insurance agent for personalized information.