Making Sense Of RV Insurance

1. Making Sense Of RV Insurance

2. Recent studies have shown that many RV owners are choosing not to purchase insurance coverage for their recreational vehicles, and are instead covering them with ordinary auto insurance, and those who do purchase coverage for their RV, are often paying far too much for policies that don’t fit their needs. If you don’t bother to purchase an insurance plan specifically for your RV, or don’t pay proper attention when you do purchase coverage, you could be exposing yourself to some very real financial risks.

3. If you own your RV outright, then you’ll have more flexibility in the amount of coverage that you get. If you’ve purchased your RV through outside financing, then the lender will dictate the minimum coverage required, and the same applies if you’re renting your vehicle; the agency will dictate the type of insurance that you’ll need. Selecting the right coverage for your RV can be confusing and time consuming, but here are a few factors that you should account for, when browsing insurance policies:

4. What is the type of RV that you own? Depending on the weight and age of your RV, some states require you to pay property tax when you register your vehicle. Take note that different states will also have varying regulations concerning how much insurance coverage you must purchase and which type. Have you added any permanent features to it? Some coverage, such as Permanent Attachments Coverage, provides you with automatic insurance of your RV’s attachments at the full cost of replacing them, and includes awnings, satellite dishes, antenna, hydraulic levellers, tow kits and so on.

5. How do you plan to use it? If you plan to live in your RV full time, then there are coverage plans such as Full-Timer Coverage, that includes additional coverage for personal belongings and even personal liability coverage if a guest injures themselves in or around your RV. Other policies such as Emergency Expense Allowance, mean that you are entitled to claim up to $500 for food, lodging and transportation costs if you’re unable to live in your RV due to a mechanical or structural issue, while you’re on the road.

6. What is your financial situation like? If your vehicle is stolen or damaged beyond repair, do you have the funds to be able to replace it? Some coverage, such as Optional Full Replacement Cost Coverage, enables a RV that has been stolen or totalled within its first five model years, to be replaced with a comparable model. After the first 5 years, you will receive the full price that you originally paid to go towards purchasing a replacement. Do note that this type of coverage must be bought within the RV’s model year or within the following four years.

7. During the time that you’re not using your RV, you’re not legally obliged to pay for collision and liability coverage, and some companies will allow you to suspend these coverages if your RV is off the road for a minimum of 30 days. Many Americans love and cherish their RV’s – whether they live in them permanently or use them for vacations – so if you love yours, don’t get caught out without the right insurance coverage. Do your research and seek professional help with finding the right coverage, should you need to.

8. At Welch, Graham & Ogden Insurance, your financial security is our mission. If you’re looking for auto insurance in Virginia, MD or Washington DC, visit the Welch, Graham & Ogden Insurance website, today and get a free quote. We also offer homeowners, renters and business insurance in Virginia. Located in Manassas, Virginia, we serve all of Virginia, Maryland, and Washington, DC.