Being on the road in a recreational vehicle (RV) is exciting. If you are in the market for a new RV, then it is time to think about insurance. Unlike insurance for your daily vehicle, recreational vehicle insurance protects you against unique risks raised by a recreational vehicle.
This is referred to as specialty coverage because it goes beyond traditional auto insurance. An example is destroying the RV in an accident and receiving the actual cash value of the vehicle. This would help with some losses, but not enough to purchase a new RV. To do that, you would need a total loss replacement value policy to completely replace the vehicle.
There is also coverage for when an RV is vandalized, stolen, or damaged in a collision. In those cases, you will need to repair or replace more than just the vehicle. An RV is usually filled with personal belongings that can be stolen or broken. You need a rider to cover personal items.
Determining Factors for Premiums
How you use the RV plays a role in determining your premiums. For instance, the insurance company will want to know how the RV will be used, where it is stored, and if it is a primary residence. An RV used once or twice a year will require different coverage than an RV that is continuously on the road