Insurance - New Life RV

Insuring your RV

What is RV Insurance?

Like insurance coverage you have on your car or truck, you must also insure an RV for accidents or other causes of damage to your or someone else’s property. Since your RV has more to cover, like personal belongings and appliances, and is of greater value, you will need to have RV-specific insurance coverage. When parked at home, your RV and your personal belongings inside it may be covered by your homeowner’s insurance, but only if you have specifically listed it on your homeowner’s policy. When on the road, your RV will need to be covered as a vehicle. If you don’t own or rent a home, then your RV should also have full-time RV-er coverage, which is more similar to a homeowner’s policy.

What’s Covered?

Your RV insurance will include liability insurance, which is required in all states. It may also include collision and comprehensive coverage, and some RV specific expense coverage.

Liability Coverage

Liability covers costs of another person’s damage claims against you if you cause an accident. This coverage is required in every state.

Collision Coverage

Collision covers costs of your own vehicle’s damage caused by an accident, regardless of who was at fault. This coverage is not required by law, but may be required by your lender if you have a loan on your RV.

Comprehensive Coverage

Comprehensive insurance covers the costs of damage to your RV caused by events other than accidents. It covers things like theft, vandalism, fire, weather, etc. Comprehensive is an optional coverage but may be required by your lender if you have a loan on your RV.

Uninsured/Underinsured Motorists Coverage

If another driver causes an accident and is not insured, your insurance company will pay your damages. Some states require this coverage.

RV Specific Coverage

Your RV policy may also include coverage for total loss replacement, emergency expenses, and roadside assistance. Be sure to ask your agent about extra coverage options listed below.

Total loss replacement

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.

Pet injury coverage

Covers vet fees for an injury to an animal.

Towing and roadside assistance

Covers the costs of some repairs and emergency roadside services and towing.

Attached accessories

Coverage helps to repair or replace things like antennas and awnings.

Personal property coverage

Covers personal property like jewelry or other valuables.

Vacation liability

This coverage protects you if someone is injured at your campsite or in your RV while it is being used for recreational purposes.

Full-timer RV Coverage

If you will be living in your RV full-time, this coverage is essential. This is more similar to homeowners coverage and will also protect you against losses when your RV is parked. If you have full-timer insurance, it may already include some of the options listed above. Be sure to ask your agent what is included.

Options can include:

Full-timers personal liability
Full-timers medical payments coverage
Full-timers loss assessment coverage
Full-timers secured storage contents coverage

KNOW WHAT YOUR COVERAGE IS. As always, ask questions ! When we purchased our fifth wheel, coverage was added at the dealership since we were financing the purchase, and we weren’t really sure what was covered. Share your thoughts and experiences about insurance below!

RV Insurance costs

Coverage can cost anywhere from several hundred dollars to over $4,000 annually.

Factors that determine cost:

Insurance coverage required by the state you reside in. All states require liability. Some require uninsured/underinsured motorist coverage. Michigan requires Personal Injury Protection coverage as well, making Michigan the most expensive state for RV coverage.

Driving history. Just like automobile coverage, your driving history will affect the cost of your coverage. If you have traffic tickets or accidents on your driving record, then your rates will be higher.

Your experience driving an RV. There is an adjustment period when you start driving an RV, things like getting used to making turns, backing up, checking blind spots. More experienced drivers will have a better chance of getting lower rates.

How much you drive. Just like auto insurance coverage, costs are higher when you drive more miles annually.

If you are a full timer. If you will be in your RV full time and using it as your residence, then you will need additional coverage that is more similar to homeowners insurance.

Type of motorhome.

Age and condition of your RV.