RV at night with it's awning down in the forest around Walcott, IA.

Understanding RV Insurance: What You Need to Know

RV insurance is a critical form of coverage that helps protect your travel investment and ensure a worry-free camping experience. Insuring your RV or travel trailer is a complex process requiring plenty of consideration to ensure you land on the right plan. Learn how to navigate the insurance process properly to get the protection you need.

RV at night with it's awning down in the forest around Walcott, IA.

Types of RV Insurance

RV towing insurance provides coverage for your RV, whether it’s a motor home or a travel trailer. As with car insurance, you can set up several types of coverage. Some are required by law, while others are optional inclusions. Here are the types of coverage you need to consider:

  • Liability coverage: Liability coverage is required by law for RVs in most states but not for travel trailers, which will be covered by your vehicle’s insurance policy. Liability coverage pays for damages and injuries suffered by the other party in an accident if you’re at fault, but it doesn’t provide coverage for yourself or your vehicle.
  • Collision coverage: Collision coverage pays for damages to your RV or trailer if you collide with a car, fence, tree, or other object. This coverage applies whether you’re at fault or not.
  • Comprehensive coverage: Comprehensive coverage compensates you for damages outside of collisions, such as falling trees, hail, vandalism, or theft.
  • Total loss replacement: Total loss replacement provides the full sum needed to replace your RV if it’s totaled. You’ll settle on the necessary amount to replace your RV when you set up coverage.

Coverage Essentials

Traveling in an RV exposes you to many potential threats. You should carefully consider these hazards and select additional coverage as needed to ensure your family has the compensation they need in the event of an accident, theft, or other unfortunate situation.

Medical Payments Coverage 

This coverage helps pay medical bills for you and your passengers, regardless of who is at fault in an accident.

Uninsured/Underinsured Motorist Coverage 

When another driver is at fault in an accident, their insurance should pick up the tab. However, you could face hefty bills if that driver is uninsured or underinsured. Uninsured/underinsured motorist coverage helps pay for your damages and medical expenses.

Personal Property Coverage 

Personal property coverage will pay for your personal belongings if they’re stolen from or damaged in your RV. This is important because your camper may contain thousands of dollars worth of belongings, including electronics, sporting equipment, and camping supplies. Your homeowner’s insurance may cover your belongings up to a point, but you can add additional coverage through your RV policy.

Loss of Use Coverage 

Consider what you’d do if your RV became uninhabitable for some time. If you’re on vacation, you might need hotel accommodations and a rental car to get you home. If you’re a full-trim RVer, you’ll need accommodations for as long as your RV repairs take. Loss of use coverage will help pay for these types of expenses.

Full-Time RV Coverage

Full-time RV coverage is like homeowner’s insurance for your RV. It’s designed for families who live in their RVs year-round and don’t have a homeowner’s insurance policy elsewhere. This coverage will pay for property damage, personal liability, and injuries that occur when the RV is parked.

Cost-Saving Tips

According to Progressive, it costs an average of $958 to cover an RV for 12 months and $573 to cover a travel trailer. Liability-only coverage is much cheaper, starting at just $125 a year for an RV. However, many factors influence the final price of your insurance policy.

Your deductible is the fixed amount that you pay for injuries and damages before your insurance policy kicks in. The higher your deductible, the lower the cost of your insurance. While increasing your deductible is an effective way to lower your RV insurance premium, you shouldn’t make the deductible more than you can afford. Keep an emergency savings account on hand with at least this sum in it so you’re always prepared to pay your part in the event of an accident.

Your insurance provider prices your insurance based on the likelihood of an accident. You’ll enjoy a lower RV insurance premium if you have a clean driving record because you present a lower risk. Avoiding tickets and driving as safely as possible are good ways to keep your RV insurance low.

Bundling policies can also help you save on your RV insurance. When you’re setting up a new policy, speak with the company that provides your current car or homeowners insurance first. If you choose to explore other providers, ask what kind of savings you can enjoy if you transfer your car or homeowners insurance to them.

Choosing the Right Policy

The larger, nicer, and newer your RV is, the more it’ll cost to insure. An RV is more expensive to insure than a trailer, as it’s usually more expensive to purchase, care for, and replace.

As your RV gets older, your insurance costs may decrease. You need to consider whether your coverage should decrease as well. If you’re already saving up for a new RV and wouldn’t want to repair your aging vehicle if it were seriously damaged, consider carrying a little less insurance coverage and funneling the savings toward your new RV fund.

Usage determines the type of insurance you need as well. If you rarely use your RV or trailer, you won’t need immediate funds for a fast replacement if it gets damaged. If you live in your RV full-time, however, it’s as important as any home and requires the best coverage you can afford to put on it.

Consult an Insurance Agent

Proper RV insurance provides both legal protection and peace of mind. Take the time to carefully consider your insurance needs and options so you can enjoy your RV adventure to the fullest. Consult our team at Cheyenne Camping Center in Walcott, Iowa, for knowledgeable recommendations on budgeting for your RV purchase and trusted insurance providers specializing in RV coverage.

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