Owning an RV means hours of fun on the road. Just as you’d protect your investments and loved ones with auto insurance, you’ll need coverage to safeguard your recreational vehicle. If you’ve never sought insurance for an RV before, you may have many questions about it. To help you answer them, here are a few of the most common ones new owners have.

Everything You Need to Know About RV Insurance

Is it always required?

RV insurance is required if you’re financing the vehicle, renting it, or it serves as your permanent residence. If your RV is paid in full or is towable (as in the case of travel trailers), then insurance may be optional. In New York, you must have minimum liability insurance to register your vehicle with the Department of Motor Vehicles (DMV).

What will my RV insurance cover?

Liability coverage pays for the injury or damages you cause to other people during an accident. You can also opt for collision coverage, which pays for damages to your RV during accidents. RV insurance also includes uninsured and underinsured motorist coverage (UM/UIM), which means you’ll get reimbursed if the other party has no insurance or their policy is not enough to cover damages. 

A total loss replacement policy is a safe option if you own a fairly new RV and want to have sufficient funds to buy another one in case of disasters, accidents, or theft. Another option is agreed value coverage, where you will receive the money you agreed as your RV’s replacement value. Lastly, there is market value coverage, which releases funds based on your RV’s market value at the time when it was damaged or lost.

What is the price of the premiums based on?

The cost of your auto insurance will depend on the type of RV you own, state laws, and the coverage you want. For example, your premiums may be higher depending on your state’s required minimum liability insurance. Your premiums can be lower if you own a Class B model (instead of a Class A), and you’ve been driving it for several years. 

How do I save on RV insurance costs?

You can get insurance discounts by paying annual premiums in full and making timely payments. If you and your spouse are paying for home, RV, and auto insurance policies, you can also bundle these to lower your payments. 

Bryan Nelson Ives-Johnson Agency INS has been helping families in the Western New York area protect their assets since 1935. Whether you’re looking for home, health, business, or auto insurance coverage, you can rely on him for the right product at the most reasonable rate. Learn more about his offerings online or call (716) 488-1191 to get a quote.