If you love spending time on the road and seeing beautiful new sites, then buying an RV might be the change of pace you need in your life. RVs hold a bigger impact on the American economy than most might care to think. The RV industry has held strong throughout the years; it creates about $50 billion a year, according to a 2015 economic analysis done by the RV Industry Association.
Just like any standard automobile or home, you’re going to want to some insurance coverage for your new vessel. While a standard auto policy might transfer over to recreational vehicles, this does not guarantee that you’ll have coverage for all of your risk exposures, especially if you’re planning on taking your RV on long, rugged journeys. But is RV insurance required? What does the process entail? If you’re looking for an RV insurance quote, start the process off with these answers to some of the most common questions about RV insurance, courtesy of The Balance.
When is RV Insurance Required?
What’s required for an automobile is typically also required for an RV. Laws vary by state and county, so it’s important to check them if you are planning on traveling in your RV. But overall, having some type of protection is always best.
You’ll definitely need a separate RV policy if:
- Your RV is a Class A or B motorhome;
- If you do not own the RV outright via loan;
- If the RV is a rental.
A financed RV needs coverage because the owner simply doesn’t own it, which also applies to rentals. It’s your responsibility to handle, and that’s why it’s imperative to have coverage. Motorhomes must have liability insurance while being driven on the road in most states. While having full coverage is optional, that does not mean that you shouldn’t go down that path. Accidents happen and they aren’t always avoidable. If you’re living in your vehicle full-time, then complete coverage is an absolute must.
Is RV Insurance Ever Optional?
There are a few scenarios when insurance is going to be optional for your RV. If your RV is only towable, not drivable, then you won’t necessarily need insurance. The other time when you won’t have to have coverage is when you completely and utterly own the entirety of the RV, and your state doesn’t require liability insurance. But while it’s good to know the times when insurance is optional, it’s important know that it isn’t exactly wise to opt-out of coverage to save a quick buck. In the end, you could be paying for it for the long term. Be aware of the pitfalls if you’re not going to insure your RV; your RV is susceptible to damage even if it’s just sitting out front of your home.
What Coverage is Included?
An RV insurance policy can include both property and liability insurance coverage.
- Property coverage will apply to your RV’s contents, any emergency expenses incurred while traveling, your hitch package, awnings, and even a replacement RV should you experience a total loss. Covered perils include fire, theft, collision, vandalism, and animal destruction.
- Liability coverage will protect you against damages from legal defense costs, monetary settlements and awards if you are alleged to be responsible for property damage or personal injury.
For many people, the best part of owning an RV is getting to take it out on the open roads. Our RV policy offers complete coverage wherever it goes in the United States. Some policies may also extend coverage to Canada.
It’s always easier to have protection in advance than try to get it once an accident or emergency has already occurred. Our RV Insurance program offers comprehensive coverage at affordable rates. Contact us today for an RV insurance quote and more information about how we can keep you and your vehicle covered through any situation.
About Transparity Insurance Services
Transparity Insurance Services was founded for the purpose of helping clients to ensure their property and assets with no hassle. We are committed to providing a simple, easy, efficient, and positive experience to all of our clients, and prioritize open and transparent communication with our clients. Through our excellent customer service and technology, we can help you to find the right insurance program at a competitive price. Contact us today at (855) 889-2037 to learn more about what we can do for you.