No different than the protection of other large investments, recreational vehicles owners are well served by obtaining good RV insurance. Motorhomes, campers, vans and even buses that have been converted can all fall under the category of recreational vehicles. Since these sort of vehicles can be quite costly, owners should seriously look into what is called ‘replacement cost’ or ‘damage repair’ coverage.
RVs are generally classified by insurers into the following categories:
The first is Class A, which would include such vehicles as motor coaches, converted buses and motor homes. Those in this class can be as long as 75 feet and are often be colloquially referred to as ‘land yachts’.
Those in the category of Class B will generally include vehicles such as camper vans and travel trailers, among others.
Class C is the category that includes vehicles such as a van or truck that drives or pulls a camper.
Factors that determine cost
When shopping for good RV insurance, keep in mind that the miles you will drive on an annual basis will have an impact on the determination of premiums. Should your RV be used as either full or part time living quarters, this too will be a determining factor, as well as your driving record.
Who needs this coverage?
Just about any owner of an RV is a good candidate for purchasing this insurance coverage, as they are exposed to potential loss. As RV owners will have different needs and desires, each is well advised in considering both the risks of everyday ownership and the potential expense in the replacement of such a costly item.
How it functions
RV owners are safeguarded from out-of-pocket costs should some kind of loss, bodily injury or property damage occur. RV owners are smart to figure the risks and replacement costs to come up with appropriate policy coverage. In the use of such coverage, the policyholder simply pays his or her chosen deductible and then any extra costs over the limits stated in the policy details.
Kinds of coverage
There are several types of RV coverage. One is collision coverage, which pays for the repairs of the RV should it be involved in an accident. Also, when a policyholder, for example, hits a tree or some other stationary object, then the insurance provider will compensate for the repairs or replacement, up to the agreed upon replacement cost. Various deductibles are available to mitigate premium costs.
Comprehensive insurance is what will compensate for any needed repairs not in the purview of the collision coverage. These can include fire, floods, vandalism or wind damage, for example.
Liability insurance will pay out for any repairs and damage when the insured driver is at fault.
Uninsured/underinsured motorist insurance will cover the damages from the effects of an uninsured/underinsured motorist hitting your vehicle.
There is also extra coverage available for awnings and other attachments.
In the end, RV owners with good RV coverage are financially safeguarded from loss of property and the consequences of bodily injury. It means unequaled peace of mind.