Things to Consider When Purchasing RV Insurance (2024)

FAQs

What is not covered by RV insurance? ›

What does RV insurance not cover? RV insurance will not cover general wear and tear or damage from mold, delamination repairs, fungi, or rot.

Actual Cash Value or the ACV of your RV is the actual market value of your RV. This number should come from a third party source such as the National Automobile Dealer's Association (NADA), or other similar source.

Common RV insurance coverages and requirements

Because you drive your motorhome like a car, you'll usually need to carry liability insurance that meets the state's minimums for auto insurance coverage. On the other hand, the towing vehicle's liability policy usually covers trailer-type RVs.

Increase Your Deductible

A higher deductible means you're willing to pay more out-of-pocket in the event of a claim. In return, your insurance premium could be lower.

Nationwide, Progressive and Allstate are our top three picks for the cheapest RV insurance providers. The cheapest type of RV coverage is liability insurance, which is required for driveable RVs. RV insurance can be as cheap as $125 per year for basic coverage.

If you take vacations in a motorhome or live in an RV as your full-time residence, having RV insurance is a must. RV insurance covers your financial responsibility if you cause an accident, and another driver suffers losses.

Replacement cost value refers to the full cost to replace your items with new ones, while actual cash value refers to what your current items are worth in their depreciated state. For example, say you bought a couch for $3,000 five years ago, and now it's worth $1,500 due to age and wear and tear.

NADA Value - it's like a Kelly Blue Book for RVs. It is used by banks and dealers to determine the national value of your RV. RV Listing Site - use RV listing sites like RV Trader and RVT to see what the going rate of your RV is in your market.

Comprehensive coverage may pay for water damage that's out of your control. For example, if a tree falls and puts a hole in the roof of your RV and it rains inside your RV, comprehensive coverage may pay to repair the damage, minus your insurance deductible.

Key Takeaways: RV insurance can cost about $125 per month on average depending on your RV and situation. Motorhome insurance for full-timers is typically more expensive than standard policies and can be as expensive as $3,000 per year.

How is RV insurance determined? ›

When you buy RV insurance, your insurer or agent will ask simple questions about you, your RV, and how often you use it. You'll then select coverages to best protect you and your vehicle. Options include liability, collision, comprehensive, uninsured/underinsured motorist, and even RV towing insurance.

When reviewing Progressive RV insurance, we rated the company 9.1 out of 10.0 stars for their superior coverage options, low costs, and great customer service ratings. Key Takeaways: Rates from Progressive can start as low as $125 per year for basic liability coverage (excludes travel trailers).

They're easy to drive

There's almost no learning curve before you're pulling in and out of tight campsites with ease. It's also nice that they are more like your car in terms of gas mileage. Whether you're towing or driving, a Class B will be near the top of the fuel efficiency list compared to other RVs.

Without comprehensive coverage on your motorhome policy, damage from hail won't be covered by your RV insurer. Explore Progressive's editorial standards for Answers articles to find out why you can trust the insurance information you find here.

If the power surge resulted from a covered peril, then your RV policy's comprehensive coverage may pay for the damage, minus your deductible. If the power surge was caused by negligence, such as a lack of upkeep or faulty wiring, then any consequent damage isn't likely to be covered.

Appliance Coverage Is Typical In RV Insurance

Therefore, they are also considered a home unit. So items such as the refrigerator, television, plumbing systems, and your air conditioner can be covered. It all depends on the scope of your policy and how you set it up with your insurance provider.

Keep in mind that warranty companies will always look at the root cause of the failure to determine whether or not an item will be covered. Take a leak for example. A leak is the result of something else failing. If something like a water heater or water pump caused the leak, that would be covered.