There’s been a pretty big shift in the RV (or recreational vehicle) world in the past few years as more and more Gen Xers and Millennials have begun celebrating the traveling home on wheels lifestyle.
And who can blame them? After all, with an RV, you get all the joys of travel rolled-up tight with the comforts of staying right on your couch.
But before you go all-in and invest in your very own RV, you’ll want to make sure you’re set up with the right insurance coverage to protect you from any potential hazards of the road.
Types of RVs and Motorhomes
Before you can find out what type of insurance you need, you need to know how your vehicle is classified. So which is it:
- Class A Motorhomes: Largest RVs on the road – a home on wheels
- Class B Motorhomes: The small RVs – a van with amenities
- Class C Motorhomes: Midsize models, sometimes called mini-motorhomes
Why Do I Need RV Insurance?
Your RV is pretty much a combo of your home and your car. And despite being on wheels, it still includes homey comforts like a bed, dishes, a TV, and even a fridge. That means your policy coverage needs to be a bit more extensive, to reflect the protection you need.
Now, you most likely financed your RV through a bank. And more often than not, the lender will require insurance for your RV in order to finalize the deal and protect their investment in you. So in this case, it is mandatory.
Beyond that, most US states require a liability policy at an absolute minimum to cover any property damage, medical costs, or legal fees that come along with an accident.
Several states go even further, requiring uninsured/underinsured motorist coverage in case you’re hit by another driver who doesn’t have insurance, or doesn’t have enough to pay for the damage.
Just now, required or not, proper coverage is always recommended. After all, you never know what type of incidents you’ll encounter out on the road. And without the right protection in place, you’ll be paying it all out of pocket.
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RV Insurance Coverages
Covers the costs associated with any injuries or property damage you’re responsible for due to an accident.
Covers the costs to repair or replace your damaged or destroyed vehicle after an accident.
Formally known as “other than collision,” this portion of your policy covers damage to your vehicle from things like theft and weather damage.
Pays medical bills and other expenses whether you’re at fault or not
Protects you financially if the other driver doesn’t have any car insurance or not enough to pay for all expenses.
Pays to replace your RV in the event of a total loss. This is usually only available for brand-new RVs that have never had a previous owner.
Covers physical damage or theft.
Covers vet fees for an injury to an animal or replacement costs for death.
Covers the cost for a professional to help fix covered problems or to tow your vehicle to a repair shop.
Coverage helps to repair or replace things like antennas and awnings.
Covers personal property like dishes and sporting equipment.
Covers the cost of bodily injury or property damage that occurs when the RV is being used as a temporary residence.