How To Get Cheap RV Insurance In 2022 (Cost+Coverage)
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There are a lot of different companies offering various packages of RV Insurance and it can be confusing to choose. Some of these packages can be quite expensive as well. Is RV insurance is really worth it? How do we find cheap RV insurance options and what do they cover? With these questions, we’ll help you choose the right RV insurance for you so you can get the most of it for a cheaper price.
On average, RV insurance can cost between $200 to $3,000 annually. For travel trailers, it ranges from $200 to $1,000. Class C and Class B, premiums could range between $800 to $1,000 and $1,300 to $2,000, respectively. Take note, several factors could affect your RV insurance rates.
Generally, an RV insurance premium depends on several factors like the age and condition of the RV, how often it’s used, the type of insurance policy you are getting, and up to how much do you want them to cover you for. Even your location is a factor too.
NOTE: RV insurance can be complicated since you are insurance a moving vehicle (like car insurance) and a home that you live in (like house insurance). So you need to make sure all situations are covered.
Do You Need Special Insurance For an RV?
You might be wondering if special insurance for your RV is necessary when you have auto insurance already. Aren’t RVs covered by auto insurances? Although your auto insurance might extend coverage to your RV, it is limited only to some extent so you can’t expect much from there.
You should know that some car or truck insurance will cover a trailer while it is being towed. However, that insurance does not extend to when the trailer is parked or spending time inside the RV.
RV insurances are specifically designed to perfectly fit the lifestyle of worry-free RV living, whether part-time or full-time. For one, RVs aren’t cheap. Secondly, accidents can happen anytime so having RV insurance to cover for you in case something happens can save you a lot of money in the long run. It is a worthy investment if you ask me. Besides, there are cheap options available to suit your lifestyle.
Why is RV Insurance So Expensive?
When you look at the RV insurances at their face value, it’s easy to think how expensive the premiums are. As I said earlier, RV insurance must cover both a vehicle that is driven or towed and a home environment that you spend time inside. So it must cover many uses and include accidents that happen on the road or at the campground.
Given that you must have one, the question now is, how do we find the cheapest option?
Most insurance companies will offer full coverage of your RV for most situations you might find yourself in. However, not all of these are necessary. You might be surprised to learn that you can actually customize your insurance coverage based on your specific needs.
The best way to negotiate a lower price is to speak to your insurance agent and ask for the best insurance policy for your RV based on how many days you are camping and how you use your RV.
You might be able to opt-in for features you only need. Sometimes, they would also offer great discounts if you get all your insurances under one policy.
Do You Need to Have Insurance on a Travel Trailer?
Unlike a motorhome, travel trailers are not motorized and are not required to carry insurance to be on the road. Sometimes the insurance for the tow vehicle will cover the trailer while it is towed. However, other uses, such as camping inside the trailer, require additional insurance.
If a travel trailer is financed, you will likely be required to carry insurance on the camper.
Travel trailers are generally more affordable compared to their class C and class B counterparts but still are valuable assets. The fact that the RV itself is valuable and may contain valuable belongings, is still worth getting it insured.
For example, if an accident happens inside the trailer while you are camping, you will need to be covered by insurance.
Make sure you know exactly what is covered by the insurance on the tow vehicle. Towing a travel trailer adds additional risk to driving a truck when taken on the road. Accidents may happen that may cause damage not only to the trailer; worse is if it damages another property or causes injury to another person. Getting both personal property insurance and liability insurance is a great idea and can save you a lot too.
The good thing about camper trailer insurance is it’s more affordable since the camper is smaller in size and its value is less expensive. For camper trailers, the insurance premiums are more or less $200 to $1,000 annually.
What Does RV Insurance Typically Cover?
In general, RV insurance will include liability, comprehensive and collision, uninsured/underinsured motorists, and medical coverage for accidents. Add ons include personal liability, emergency roadside assistance, tire protection, RV roof protection, pest protection, and more.
You’re probably wondering what’s the most basic insurance you should get for your RV and what can it get you covered for. Most states will require you to have some form of RV insurance (comprehensive and liability insurance coverage) but each one requires a different minimum. Although, in general, they are quite inexpensive to get, they may not be enough to get you out of a bad situation. You might still be left with some financial burden in the end.
Depending on the choices that you make, RV insurance will cover a variety of different scenarios. Let’s look a little closer at the different types of RV coverages:
- Standard Liability Insurance Coverage – Some States require a minimum liability insurance coverage. It covers costs brought about by accidents that caused property damage and/or bodily injury to another party.
- Comprehensive Insurance Coverage – Comprehensive insurance covers for damages to your RV brought about by any accident or incident that does not involve collision (includes theft, fire damage, floods, water damage, etc.)
- Collision Coverage: On the other hand, Collision Insurance will cover damages to your RV in case of a collision with another person’s property. Basically when you cause an accident that is your fault. Some States will require a minimum amount of collision coverage.
- Uninsured or Underinsured Motorist Insurance Coverage – Most States will require this. It covers you and your passengers’ medical bills and/or wage loss in case of an accident with someone who is uninsured or doesn’t have enough insurance to cover for these.
- Personal Property or Personal Effects Coverage – Aside from insurance to cover damages to the RV itself, you also have the option to get insurance for your personal belongings contained inside your RV. Similar to your homeowners insurance, this is based on its value and to a certain amount of coverage.
- Medical Payments Coverage – Covers for medical expenses related to accidents.
- Roadside Assistance – Covers for expenses when your RV breaks down and requires roadside assistance like towing your RV, changing tires, needing on-site repairs, and when you run out of fuel.
- Vacation Expense Coverage – Covers for accommodation expenses up to a certain amount like transportation and lodging expenses when your RV breaks down.
- Pet Injury Coverage – Covers for medical expenses for pets that are injured brought about by an accident while traveling.
Does RV Insurance Cover Water Damage?
Which insurance type do you need to cover for any costs related to water damage in an RV?
Most insurance policies will actually protect you from expenses related to water damage to your RV under your comprehensive policy. Although this may be the standard in most insurance companies, it is best to consult with your insurance agent.
How Much is RV Insurance Monthly?
When you try to get a quote from these different companies, you will find that they are priced competatively. They vary in the cost of premiums based on the extra coverage you are getting because sometimes they come in bundles or packages. You might be able to save some money from premiums when you modify your policy with your insurance agents.
Given that several factors are considered to calculate your monthly premiums, it is best to speak to your insurance agent. They will ask you to provide some information so they can give you an accurate amount. Get a quote from some of the Best RV Insurance Companies in 2021 below.
What Are RV Insurance Deductibles?
An insurance deductible is the amount of money set that you have to pay upfront when making a claim. Most insurance companies will require you to pay a certain amount of deductible before your insurance steps in to cover the rest (up to a certain limit).
Although you might find some insurance companies that won’t ask for an annual deductible, the premiums are actually much higher. But how does having an insurance deductible affect your premiums? The higher the annual deductible you commit, the lower the premiums will be.
Final Thoughts
RV insurances can be your savior. You’ll never know when they’ll come in handy but when something happens, at least you know you are covered for losses, damages, and/or liabilities. The amount you have to pay monthly is still significantly less compared to the amount you are getting covered for so it is definitely worth getting one.
The best way to find the best deal is still to check out and compare different policies, review each of them thoroughly, and make sure you let your insurance agent know what exactly you need and how much you want them to only cover. Getting only the essential types of insurance can save you on premiums. They can protect you from heavy financial losses due to damages and liabilities in the worse scenarios possible without having to pay extra fees. However, if you can afford the full coverage, go for the maximum coverage, avail of their discounts, and enjoy worry-free RV living.
Be sure to check out our Etsy Store and grab a planner and journal to help keep track of your camping needs, as well as write about your additional expenditures.
Hi, I’m Shauna – Welcome to Family Travel Fever. We are a large family, that was bitten by the travel bug! I take the kids by myself because I don’t mind flying or driving solo with my crew to discover the coolest places.
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