Purchasing the right RV just brings you closer to having that RV vacation of a lifetime. The next step would be making sure all of your valuables and RV are properly insured. Here are tips on how to find the right RV insurance.
According to an article at allstate.com, “Understanding RV Insurance”
“Determining how much RV insurance you need to carry beyond state requirements is also important. Assuming that you own your RV and are under no obligations with a lender to carry otherwise mandated coverage’s, here are a few things to mull over that may help you determine how much coverage to buy.
- Where do you keep your RV when it’s not in use? If you don’t store your RV in a secure location, you could be exposing it to the risk of theft. In this case, consider carrying enough insurance to cover your losses if your RV is stolen or broken into and your belongings are taken. Another thing to consider is your RV’s exposure to weather and natural disasters. Even if you keep your RV safely stored away from the elements, there’s always the possibility it could get damaged or destroyed by a fire, a storm or another covered peril.
- How much is your RV worth? Unlike cars, which depreciate in value quickly, RVs can carry their value for much longer. If your RV was lost or seriously damaged, would you suffer a serious financial hit? Keep this in mind when deciding whether to get comprehensive or collision coverage.
- What’s the value of the belongings you keep in your RV? If you’re a tech connoisseur, it’s likely you may have a premium sound and video system installed in your RV. Likewise, no RV would be complete without a mini-fridge, stove and microwave oven. Take note of the value of the belongings that are kept inside of your RV at all times and factor these into deciding whether to take out a comprehensive policy to protect you against a covered loss.
Understand your coverage options. When you buy RV insurance, you’ll find that a lot of the same coverage options from your auto policy are also available for your RV. But, there are additional options of which you may want to take advantage. The typical RV insurance policy may include the following coverage options:
- Liability for bodily injury and property damage.
- Collision coverage for damage done to your RV.
- Comprehensive coverage, which includes insurance for non-accident damages such as fire, theft and falling objects.
- Contents coverage for damage done to the personal belongings you carry in your RV.
- Medical payments coverage for injuries to you or your passengers in an accident.
- Personal Injury Protection. This comes into play regardless of who’s at fault. PIP may pay for a broad range of expenses including medical bills, lost wages and funeral expenses. Check with your local agent to determine whether you live in a no-fault state.” To read the entire article click here.