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RV insurance, What To Know Before Buying RV Insurance

What To Know Before Buying RV Insurance

For the occasional weekend road trip, minimal RV insurance is generally sufficient. But when you go on longer drives, vacation in your RV for a full season or even full-time, then it’s time to really look at your insurance options. RV insurance is paramount to preventing an accident from leaving you in a financial quandary.

But how do you go about getting the best RV insurance coverage for your needs? Consider the following tips for choosing the best RV insurance:

What To Know Before Buying RV Insurance

  • Know the core terms. There are three very important terms RV owners should understand before choosing a policy:
    • Total Loss Replacement (TLR) coverage. A policy with TLR coverage will replace a totaled RV with either a new comparably-equipped one or will payout at or near the RV’s purchase price. This is a key policy to have when you are buying new from the dealership, as it protects against depreciation.
    • Actual Cash Value (ACV). An ACV policy will generally have cheaper premiums, but that’s because this policy, in the event of a totaled RV, will pay out the replacement cost minus depreciation. So if you bought a used RV at $15,000 and it gets totaled, the insurance company will estimate its perceived value at the time of impact.
    • Agreed Value. Not quite as common, this policy is generally reserved for unique and vintage RVs. Here, the policyholder and insurance company settle upon an agreed value of the RV to be paid out in the event of an accident.
  • Know the difference between the extras. Add-on insurance coverage is just as important as that base replacement coverage. But these add-ons can be widely different between insurance companies. For example, different insurance companies and even different policies within one insurance company will have different coverage options when it comes to marketed roadside assistance. Some may list free fuel delivery should you run out of gas, but that may mean for some companies that the delivery of the fuel is free and you pay for the gas.

In a Roadside Jam? Let Our Team Help

Our team offers our own RV roadside assistance towing and recovery. We are also listed by many insurance companies as an insurance approved preferred repair provider, as they know that we offer high quality and cost-effective repairs and automotive assistance. Contact us today to learn more.