For many people, recreational vehicles (RVs) represent the freedom of the open road. RVs provide accommodations for travel and for family fun, and they represent a substantial financial investment. For RV owners, RV insurance is a must. In this article, we’ll discuss the basics of RV insurance, including typical coverages and how these valuable insurance policies can protect your hard-earned investment.
What is RV Insurance?
Recreational vehicle insurance is simply that: insurance protects this investment against the risks that an RV may experience, including loss, damage, or emergency roadside repairs. In many ways, RV insurance is much like an automotive insurance policy, which typically includes collision and liability coverage. RV insurance policies can also include camp or vacation coverage, towing, and emergency expenses, depending on the insurance product chosen. For those that live in their RVs full time, as in the RV is a person’s primary residence, “full-timers” coverage may also be available.
And, just like most automobile insurance policies, RV insurance often covers uninsured and underinsured motorists – a valuable feature if the RV owner should be involved in a crash with someone who doesn’t have insurance of his or her own.
Is RV Insurance Required?
All states in the U.S. require RV owners to have valid insurance policies before hitting the road, just like in regular car insurance. The most basic RV insurance policy covers a minimum amount of liability (set by each state); the RV owner can purchase additional coverage over and above these minimums. Collision and comprehensive coverage is also available. Some states require RV owners to have insurance against uninsured and underinsured drivers, too. Speak to your insurance agent to see what coverages are required and what your personal needs are to find the perfect RV insurance policy for your investment.
RV Insurance – How it Works
Just like automobile insurance, RV insurance typically operates in the same way, protecting the RV’s owner from out-of-pocket costs in the event of a collision or loss. These policies usually protect the RV owner if he or she is at fault in an accident that leads to property damage, injury, or death.
RV owners file claims just like automobile drivers would. In the event of a crash or other accident, even one that you are at fault for, the insurance company should cover the expenses associated with the incident. Here are some examples:
An uninsured motorist crashes into your RV while you’re on vacation. In this case, your RV insurance policy and insurer will pay for the damages caused if you have uninsured/underinsured motorist coverage on your policy.
If you cause a crash (are found at fault) in your RV and someone gets injured, the liability portion of your RV insurance policy will help to pay for costs associated with the injured person’s medical bills, property damage and even legal fees.
If a crash or mechanical issue causes the RV to become inoperable, many insurance policies cover towing expenses.
In all of these examples above, the amount of financial compensation the RV owner receives is dependent on a number of factors, including the monetary amount(s) of coverage in the policy, the amount of damage caused by an incident, and the limits that each policy has.
An RV insurance provider will be able to help RV owners get the perfect policy to cover expenses against damage, loss, and liability. RVs represent a sizeable investment; it makes sense to protect them with insurance!