Need to Insure Your RV? Know These 3 Things
Insuring your RV is going to be a bit different than your car. The vehicle itself is going to be much more expensive than any vehicle that you've owned in the past, and you don't want to end up without enough coverage or paying too much. Here are some things to know for getting the right policy for your RV.
Why Is Special Insurance Coverage Needed?
Specialty coverage is needed for an RV because you want an insurance provider who has experience making claims for this type of vehicle. Your regular car insurance provider may not be as familiar with the damage that can happen to an RV, but someone that specializes in RV insurance will simply know more about it. There are also a lot of things that can become damaged in an RV, leading to more expensive repairs that are not covered in a standard car insurance policy.
Do You Need A Total Loss Replacement Policy?
When looking at insurance policies, you'll notice that there are actual cash value policies and total loss replacement policies. This can leave you wondering what the differences are between the two and if the more expensive total loss replacement policy is worth it.
If your RV was in a total loss scenario, an actual cash value policy is only going to give you enough coverage for the cost of the vehicle at the time of the loss. You may have purchased a $50,000 RV, but after several years you may discover that it is only worth $30,000 if you were to buy the same vehicle used. This means that you would only receive $30,000 for your RV, making it difficult to buy a new one since you need to make up the difference yourself.
Having an actual cash value policy is going to give you the money to replace your RV with a similar model today. It can get you back into a working RV quickly since the replacement cost is fully covered. This may be important to you if you are living out of your RV rather than using it for recreational purposes, and going without an RV is simply not an option.
How Much Personal Property Coverage Is Needed?
While RV insurance is designed to cover all of the specialty items built into an RV, you want to make sure you have enough for personal property as well. Always ask about how much personal property coverage comes with your insurance, and determine if you need more based on your needs. People that live out of their RVs for long lengths of the years may have more personal property than those that simply take it out on the weekends.
To learn more, visit an Airstream insurance provider.