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Owning a Recreational Vehicle (RV) offers families the freedom to explore the beauty of America while enjoying a few comforts of home. Whether you’re a retired couple traveling or taking the great family vacation America’s roadways, even the best plans can go astray. Traveling in a Motor home or RV can leave vacationers subject to problems and when that happens most policyholders are happy when they investigated their insurance options first.
Many Personal Auto Insurance policies will allow an insured to add their motor home or RV to the personal auto policy and some estimates indicate that as many as half of the RV owners do just that. It’s important however, to understand that an RV is a huge investment and instead of insuring with the same coverage’s as your family car it might be wise to consider specialty insurance specifically designed to cover RV’s.
Every RV owner should consider these insurance needs:
- #1 Roadside Assistance and Towing
- The standard auto insurance policy may include or offer towing and roadside assistance, but many standard auto policies may exclude this service or offer very limited coverage. The auto policy may allow for towing but generally only up to a specific limit. RV’s can cost three times more to tow and this may mean additional costs to the policyholder.
- Specialty RV insurance policies may also include “emergency expense” coverage. RV owners will have insurance to cover temporary living quarters when there is a break down and in many cases this coverage will also cover the cost of returning the RV to the home following an accident or breakdown over 50 miles away from home.
- #2 Involved in an Accident
- Standard personal auto insurance will handle claims under the auto division. An Adjuster normally dealing with auto claims may be assigned an accident with an RV insured on a standard policy.
- With a Specialty RV insurance policy the claim adjuster will be better trained and experienced in estimating damages and repair costs.
- #3 Stolen or totaled
- Standard personal auto insurance will generally pay the Actual Cash Value (ACV) for stolen or totaled RV’s. This means the market value as determined by third-party sources.
- Most specialty insurers will offer choices for this type of loss. Some specialty RV insurance providers will offer Agreed Value coverage meaning the insurance company agrees up front to the amount an insured will be paid in the event of a total loss or theft. There may also be Total Loss Replacement coverage an RV owner may want to consider. This insurance provides the policyholder with a new RV if the insured suffers theft or total loss to an RV that’s under five-years old.
- #4 Personal Property Stolen from the RV
- Personal auto policies don’t pay to replace lost, stolen or damaged personal property.
- Specialty insurers usually offer “personal effects” coverage. This insurance pays to replace personal property used in conjunction with your RV.
- #5 Personal Liability While On the Road
- When an RV is parked at a campsite, the owner of the RV may be liable for the area around it. If someone trips and falls the RV owner may be held responsible for any injuries. Most personal car insurance policies exclude this kind of coverage.
- Specialty RV insurance policies may offer Vacation Liability coverage. This insurance pays up to the limit of liability for injuries the RV owner is legally responsible as a result of an accident occurring during the time an RV is used as a temporary vacation residence.
Related Blogs:
- Actual Cash Value (ACV)
- All-Terrain Vehicle (ATV) Insurance
- Things to Know Before You Buy The Family Boat or Watercraft.
Glossary of Insurance Terms:
A | B | C | D | E | F | G | H | I | J-K | L | M | N | O | P | Q-R | S | T | U-V | W-Z
Families.com Blogs are for informational purposes only. Families.com assumes no responsibility for consumer choices. Consumers are reminded that it is their responsibility to research their choices properly and speak to a certified insurance professional prior to making any decision as important as an insurance purchase.
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