When You Should Invest in RV Insurance

​Although having an RV for yourself sounds exciting and fun, it still requires a significant investment. However, even if it’s not a requirement of the state to purchase RV insurance doesn’t mean that you shouldn’t. Here are the few instances when you should invest in one.

When RV Insurance Is Generally Required
At a minimum, most states require liability coverage for RVs the same amount that cars need. However, a separate RV insurance policy is necessary if you own a motorhome RV (whether class A or B), you don’t fully own the RV (may it be you took a loan), and if you have a rental RV. In most states, liability insurance is required for motorhomes by the law. Purchasing the full coverage is optional only on instances where the vehicle is financed.

RV Value
You can weigh out your RV’s value and the loss in your savings account by self-insuring the damages that your motor home might risk. Ideally, it would be better to purchase additional insurance coverage if you permanently live in your vehicle.

If you only rented out and RV, know that the vehicle is ultimately your responsibility for borrowed time, which is why it is essential to ensure having an RV insurance coverage. You can inquire from your auto insurance company if the purchase coverage includes rental RVs. If it doesn’t, most dealers automatically include an insurance price in their total payout, or they may inform renters of short-term policies that they can obtain.

Times When Insurance Is Optional

• When the RV is not drivable (class C), only towable.
• When you have full ownership of your RV outright without any financing and live in a particular state where the law does not require RV or liability insurance.

Most towable RVs compose of pop-ups, travel trailers, and fifth wheels. Fortunately, if you also own car insurance, the policy extends liability insurance to your RV when towing. To state a liability example, these are instances in which your camper might suddenly unhitch from your truck and accidentally causes damages to another person’s property. Because your car insurance covers liability, towable RVs don’t require protection from the state.

Other than budgeting expenses for financing and maintenance when planning to purchase wheels that you can turn into a home, it’s still crucial to know whether you might need the benefits of RV insurance or not. Remember to include the costs in your budget as well.

At AllRisk Auto Insurance, LLC, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (360) 693-4044 or Click Here to request a free quote.