Is your RV Insurance covered with your auto insurance? Do you think the cover is adequate? If so, think again.
This is no doubt a common practice. However, note that the claims that occur when the RV is under an auto policy cause unnecessary headache and consume large amounts of time. Added to that understand, that the coverage is insufficient.
Aspects of an RV that can be the speed breakers include the internal components, including appliances and plumbing. In most cases, you will end up footing the bill for the replacement or repair of these various items. Which is why it makes sense to go in for an insurance policy that is customized and tailor made for your RV. The RV insurance policies begin from where auto insurance policies left off. 4Insurance.com answers your queries on RV Insurance and what it has to offer.
What does it cover?
Collision: Covers damages to your RV and all its fixtures which may result from an accident with another vehicle or object. Your agent can help you determine the degree of coverage based on the value of your vehicle and frequency of usage.
Un-insured/Under-insured motorist: Covers upto a specific limit all injury to the body caused by a non insured or an inadequately insured motorist.
Comprehensive: Covers damage due to wind, water, vandalism, theft and fire.
Bodily injury/Property damage: Covers what you are legally liable for.
Specialised coverage: (varies for different companies)
Full Timer Coverage: Covers those individuals who are perpetually on the road, reside in their RV and have no permanent home.
Personal: Covers your valuables placed in the vehicle
Emergency Assistance Coverage or Towing and Labor: Most auto policies provide inadequate cover expenses incurred when your vehicle is towed away, because they are not designed for RV's. With coverage meant for your recreational vehicle, you can have peace of mind if your rig breaks down. This also covers the loss of personal property in your RV.
Total Loss: This cover provides a replacement vehicle if your RV is totally wrecked by acts of nature or those of man. The replacement vehicle will usually be a new vehicle of the same model year as your original.
Lowering your Insurance Costs
How much you pay for insurance depends on many factors. The following suggestions may help you lower the cost of your RV insurance.
Before you buy an RV — be it a motorhome, fifth-wheel or pop-up camper—check the insurance costs with your agent. If the RV you wish to buy is expensive then, be prepared to see a commensurate hike in costs of repair, maintenance and insurance. Check for discounts based on the safety equipment you install.
Stick to one company. Identify one company from where to buy your home, auto and RV insurance policies and stick to it.
Increase your deductible. By hiking your deductible, you can save more on your policy.
Weed out overlapping insurance. If you have an excellent health and life insurance policies you can look at reducing the medical or bodily injury coverage on your RV and auto policies, and save the difference. Ask your agent to explain the trade-offs.
Drive safely. A clean driving record gives you a clean chit. This can potentially lower your insurance rates and get you a discount.
How you pay can also influence what you pay. Payment using the electronic medium or in cash can also determine your premium. You can also pay your entire premium in full either by check or credit card. These can also fetch you some discounts