Insurance policies are protective covers that keep us financially and medically safe in times of troubles, and just like any other personal belonging, owning an RV is an investment that should be protected. A typical recreational vehicle can cost anywhere between $10,000 and $300,000 – depending on its class, amenities, and functionalities. Having a $90,000 motorhome is no small feat for any RVer as it not only provides an exciting and satisfying camping experience during weekend getaways and vacations, but it also meets residential needs.

With such an expensive vehicle on your driveway, it is imperative to have it insured against theft, fire, and accidents. Interestingly, there are diverse insurance policies that cater to different budgets and preferences, whether you own a camper van or a motorhome. “Is it mandatory to have RV insurance coverage?” you may wonder. RV insurance is not compulsory, depending on the type of RV you have. In this guide, we will walk you through everything you need to know about owning an insurance policy, including its benefits.

What Does RV Insurance Mean?

RV insurance is an agreement a policyholder (RV owner) undertakes with an RV insurance company to protect their RVs, personal safety, and belongings. Just like any other type of insurance, RV insurance ensures that you are covered in times of RV-related troubles. Imagine waking up one morning and realising that your $150,000 motorhome no longers seats on your property. You have no clue about who stole it and where it may be found. Without an insurance cover, you would have to fork out more than $100,000 to get a new RV should you not find the stolen RV. RV insurance protects the RV and the owner from significant loss.

RV Insurance – A Must-Have Or Not?

The requirements for owning an RV is pretty simple; it depends on what type of RV you own. There are two RV categories: towable trailers and motorised vehicles.

Towable Trailers

These RVs have no engine. Hence, you can not drive them. They are usually attached to other vehicles like cars and trucks. RV insurance coverage is optional for this RV type, depending on your state of residence. However, lenders would require that your RV purchase come with a full RV insurance policy. Although not mandatory, it is necessary to protect your camper.

Motorized Vehicles

RVs in this category are powered by an engine, which implies that you can drive them around. Just like other vehicles, you will need at least a minimum liability coverage to legally hit the road. You will need full coverage, especially if you intend to purchase your RV on loan.

You can either get a traditional car insurance policy or a real RV insurance policy, depending on your presence. This guide to RV insurance explains in details the features available on both policies.

What RV Insurance Plan Is Okay For Me?

Inasmuch as having an insurance policy is important, you do not need too many products to protect your RV. Some factors determine what amount of coverage would be enough, including:

  • RV class – Class A, B, C, or camper and travel trailers.
  • Frequency in usage – part-time or full-time.
  • Travel destination.
  • Custom features.
  • Areas of protection

So long as your budget can meet your requirements, you can get enough coverage to protect your RV, belongings, and self. In addition, you can get life insurance, disability insurance, health insurance and dental coverage.

How Much Does RV Insurance Cost?

You do not need to break the bank to get an insurance policy. RV insurance is budget-friendly and can cost as low as $125 per year if you intend to procure a policy from Progressive. Other policies are available within a few thousand dollars, depending on the options and customization. You will spend the most on full-time RV insurance.

Factors Not Included In RV Insurance

Despite the fact that RV insurance covers basically everything pertaining to RV, including owners and belongings, it does not protect some aspects.

Towing Vehicles

If you own a towable RV that is attached to a truck or car, the latter will not be included in your insurance policy. This means that you may need to get a separate auto insurance coverage for the vehicle. Besides, it is not mandatory to have an insurance coverage on your towable trailer.

RV Damage By Animals

In view of vehicle damage and loss, insurance policies generally exclude vehicular damage resulting from insects, rodents, birds, and animals whereby the RV is parked. It does not also cover water damage. However, damage caused by factors like fallen tree branch, leaking appliance or broken pipes is included in the policy.

How To Claim Damages

No one likes to see his or her property destroyed, not even in an accident. However, if it happens and you have insurance coverage, you can always make an RV insurance claim via the following steps:

  • Take pictures of the accident scene
  • Have your receipts available
  • Contact your RV agent and other RV owners
  • Get a police report
  • Give accurate details of the event

Best RV Companies

We can’t talk about RV insurance without sharing light on some of the best RV insurance companies around. These companies stand out uniquely in areas such as best services, lowest discounts, vast customization options, and many more. Here is a list of three notable companies worth the try:

National General

This accredited insurance company makes it to our top list as they have stood the test of time with an outstanding rating of A+ from the Better Business Bureau since 1960. In terms of customization options, National General is your go-to insurance company. Better still, you can get an online quote easily. Insurance pre-discounted costs can be as low as $271 per year and cover personal effects, comprehensive and collision coverage, vacation liability coverage, and emergency expenses.


Nationwide

Formerly known as Farm Bureau Mutual Automobile Insurance Company, Nationwide is a BBB A+ rated RV insurance company that offers a wide range of customizable options with the best discounts. Their liability insurance covers up to $500,000 for motorized homes and $300,000 for towable trailers. The insurance covers comprehensive and collision coverage, custom equipment coverage, total-loss replacement or purchase price coverage, roadside assistance, and vacation liability. Other options include vanishing deductibles and personal effects.

Good Sam

If you are a full-time RVer, then Good Sam offers the best insurance, though part-timers can still get the best deals from them. They provide customized online quotes and discounts resulting from gas station participations. Their membership program provides additional benefits to RV members who enjoy more offers over time. According to the company, full-time insurance is on par with homeowners insurance. You can procure an insurance policy from this company for as low as $224 on all RV classes.

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