What are the auto insurance costs for an RV?

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Here's what you need to know...
  • RV insurance costs range from $3,000 to $5,500 per year, on average
  • In addition to the RV itself, RV insurance takes your personal belongings into account
  • If you have safety features on your RV, you can get discounts on your coverage

Recreational Vehicles (RVs) can be fun and exciting to travel in, live in, or vacation in; however, there are many costs involved, including car insurance coverage. RV insurance costs range from $3,000 to $5,500 per year, on average.

Car insurance costs for an RV vary depending on the type of coverage you want and the type of RV you have. The following article will give you more information about car insurance costs for an RV.

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What is covered in an RV insurance policy?

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An RV is different from a car in that you keep many belongings in an RV that you would not typically have in a car, such as multiple pieces of clothing, cooking supplies, food, jewelry, travel documents, personal paperwork, and DVD players.

In addition to the RV itself, RV insurance takes your personal belongings into account.

Also, different RV parks and campgrounds have different rules and regulations according to individual state law. One RV park may require that you be responsible for the area around your RV as well as the RV itself.

Another park may require you to cover any injuries that happen on the camping lot you are renting. RV insurance works differently than auto insurance by protecting you and your RV’s surrounding property, no matter where that may be.

When choosing a policy, you typically have the choice of three main types of coverage:

  • Total loss replacement
  • Agreed value
  • Market value

Market value will replace your RV for the price it was worth at the time it was stolen or destroyed. This replacement cost is based on the RV’s age, mileage, and upkeep. It is important to keep records of any maintenance, upgrades, replacement parts, or mechanical work you have done on it.

If you have proof of the work that was done, it will add to the replacement value.

Total loss replacement provides the money to replace your RV if it is declared a total loss by the insurance company in the event of vandalism, theft, an accident, or a natural disaster. This coverage only applies to RVs that are five years old or less.

It is a good option for a newer RV because, just like automobiles, RVs lose value as soon as they are driven off the lot.

Agreed value is an amount of money that you choose as the replacement value for your RV at the signing of your policy. The amount you choose stays the same no matter how much time passes between the signing of the policy and the need for a replacement.

Agreed value is a good choice for older models that will have little market value. It is also beneficial for an RV that is six to nine years old, as it no longer qualifies for the total loss replacement but still has a higher value.

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Factors that Affect RV Insurance Rates

There are many factors that affect RV insurance rates. Like with auto insurance, the higher the deductible you choose, the lower the monthly premium will be.

Be sure to choose a deductible that fits into your financial picture because you do not want to get in a situation where your deductible is due and you cannot pay it. If you do not pay your deductible, the insurance company will not pay their part of the replacement policy.

If you have safety features on your RV, you can get discounts on your coverage.

Safety features include anti-lock brakes, a security device or alarm, and a backup brake system. A backup brake system is becoming standard on many newer RV models; however, some older RVs may need to have one added.

If you have taken an RV safety driving course or are part of an RV motor club, you can receive discounts as well.

Don’t let all the choices involved with RV insurance slow you down from getting started on your road trip adventures. The RV insurance comparison tool on this page helps you narrow down your choices and focus on hitting the road.

Use our online comparison tool to compare insurance rates and quotes from top companies!

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