A recreational vehicle lets you hit the open road in comfort and style. It's no secret that an RV can be an expensive investment, with some costing as much as a new home. Carrying insurance is an excellent way to protect that investment. But there are a few situations in which an RV owner is required to have insurance in place.

When Is RV Insurance Required?

1. When an RV Is a Class A or B Motorhome

Class A motorhomes are essentially luxury houses on wheels. They are large and boxy and can comfortably sleep a family of four, if not many more. Class B motorhomes are smaller and can accommodate only two people. If your RV falls into one of these classes, you are legally required to carry insurance in every state.

2. When You Have an Outstanding Loan

If you're financing an RV, the lender will almost certainly require you to carry insurance. This is a protective measure that guarantees the lender will be reimbursed for the loan in case the RV is totaled or stolen. Insurance often needs to be secured before a lender will even approve a loan.

If they do approve it without insurance in place, and the owner subsequently fails to secure insurance, the lender can purchase their own policy and bill the owner directly—often at a premium.

3. When You Rent an RV

A person renting an RV is legally responsible for the vehicle while it is in their possession. Some car insurance policies include coverage of rental vehicles, so be sure to check your plan to see if it covers rented RVs. If not, you should purchase a policy from the rental provider, or consult an insurance agent to see about expanding your existing auto insurance coverage to include a rented recreational vehicle.

RV insurance will give you significant peace of mind on your travels. The Dunlap Agency in Fairbanks, AK, offers a variety of plans and policies to clients throughout the state. From home and renter's insurance to auto and small business coverage, they are here to protect what is most important to you. Request a quote by calling (907) 456-5202 or visiting their website.