RV Insurance, Travel Trailer Insurance, Fifth Wheel Insurance

Recreational Vehicle or RV insurance is an auto insurance policy which is specially designed to cover risk factors associated with a travel trailer, motorhome, vacation trailer, or fifth wheel.

What RV Insurance Covers?

There are two basic types of RV insurance policies. These are comprehensive or collision policy and liability only policy. The earlier one covers damage due to fire, theft, vandalism, accident or collision with another vehicle. A liability only policy covers accidental damage by the insured RV to another person or property.

Additional Coverage for RV Insurance

Insurance companies offer a wide range of additional coverage options. An RV owner can buy optional coverage against payment of some extra money. Additional coverage for RV insurance includes the following:

Roadside Assistance: This offers help in the event of a breakdown. It should be included while buying RV insurance so as to avoid financial crisis.

Emergency Expenses Coverage: This includes expenses caused due to an emergency situation such as hotel expenses in case of a breakdown.

Total Loss Replacement: During the first five years after a vehicle’s purchase, this cover will replace it with a new one if the RV is a total loss. After five years, it covers the cost of repairing the damaged parts.

Accessories Insurance: It provides coverage for expensive utilities fitted to the RV such as satellite dishes and awnings.

Personal Property Insurance: This cover pays for contents inside the RV, travel trailer or the fifth wheel.

Full Timer’s Insurance: It provides liability coverage to those who live in the RV for more than five months in a year. It is similar to a homeowner’s insurance policy.

Towing or Labor Cost Reimbursement: It pays off expenses for towing the RV to a nearest service station.

How to Reduce RV Insurance Premium?

RV insurance is expensive due to the high cost involved for its maintenance and repair. The following tips are helpful to reduce the premium of the RV insurance policy:

Membership of RV owners’ association.

Certificate from driving institutions declaring that the policyholder is a defensive driver.

Installation of high-quality security alarms in the vehicle.

Lastly, it is important to buy RV insurance from a reputed insurance company with an extensive service network. Spending time to compare insurance quotes from different companies is sure to yield long lasting financial benefits.