Memorial Day can be a great time to hit the water with your jet ski or explore nature with your motorhome.  

Don’t make the mistake of assuming your homeowner’s or auto insurance policies will fully cover you if something happens while enjoying your recreational vehicle of choice. To avoid critical gaps in your coverage and guarantee you are fully insured, you need RV insurance. 

RV insurance has coverage options like auto insurance. These include: 

Liability coverage: This protects you financially if your RV causes injury to others or damage to their property in an accident or other incident. 

Collision coverage: This applies to damage to your RV in an accident involving another vehicle or object on the road, like a tree or utility pole. 

Comprehensive coverage: This pays for damage caused by everything else, such as fire, vandalism, collisions with animals, or weather events like hail. 

Skimping on costs by relying on your auto or homeowner’s policies only guarantees that you’ll lose money and face other major inconveniences if something unexpected happens. Securing RV insurance avoids these scenarios, providing the following benefits. 

Fully protects your investment. A motorhome can cost as much as a small house. You may not think of it as an investment like your home, but having RV insurance offers protection for the money you’ve put into your RV. Without insurance, a major accident could leave you on the hook for major repairs, or, worse, with a totaled RV that you can’t afford to replace. Through RV insurance you can obtain total loss replacement coverage, ensuring that you will be able to continue to enjoy an RV after the old one is totaled. 

Roadside assistance. RV insurance includes assistance on the road and towing. This is especially important if you happen to be hundreds of miles away from friends, family members, or others who you might normally be able to call on to help. 

Personal belongings. Your homeowner’s insurance policy offers very limited coverage for possessions in an RV. If you have valuable items, like expensive electronics, in your motorhome, RV insurance will cover it. 

Pets. Many people like to take their pets with them on vacations and road trips. With RV insurance, if an accident injures your pet RV insurance will cover their veterinary bills. 

Emergency expenses. If you are in an accident, RV insurance can also cover hotel costs, a must-have if you’re vacationing far away from home. 

How much does it cost? The cost of premiums is tied to the value of your vehicle. Other factors that affect premium rates include how you use it and how often you use it. As a result, premiums can vary widely based on vehicle circumstances. A basic policy for a pop-up camper could go for just $100 a year. Coverage for a motorhome, on the other hand could top out at $7,000 a year. 

Each policyholder has their own unique circumstances and RV preference, whether it’s a jet ski, boat, camper, or motorhome with all the bells and whistles. It’s best to speak to an agent to assess your needs. Please contact our office to learn more.  

Sources included: Rolling Stone, Kiplinger’s, The Balance, and lendedu.

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