Insurance Considerations for Your RV

An RV is essentially a home on wheels, designed to help you travel in comfort. These vehicles tend to keep their value much longer than cars, which depreciate in value quickly. Therefore, when it comes to insuring your investment, there are things you need to consider if you just bought (or are thinking of buying) an RV.

When Is RV Insurance Required?

Simply put, RV insurance is almost always necessary. While most RV owners require the minimum required liability coverage in the event of an accident that causes damage to another vehicle or injury to passengers, there are specific state laws that dictate different requirements for RV insurance.

For instance, if you own your RV, then you’ll have a lot more options for the amount of insurance you can take out. But it does vary from state to state. On the other hand, if you’re financing the RV through a lender, you’ll most likely be required to get comprehensive coverage or collision coverage to protect it.

Where Do You Park Your RV When You’re Not Using It?

If your RV is parked in an unsecured location, you’re exposing it to damage and theft. Therefore, you should consider coverage that covers losses in case your RV is stolen, vandalized or broken into. You should also consider its exposure to weather and natural disasters, such as fires and storms.

How Much Is Your RV Worth?

When deciding whether to get comprehensive or collision coverage, never forget that your RV may be worth more than the family car. If your RV were to ever be stolen or seriously damaged, would it be a severe financial hit? Remember to take into account any items you keep inside your RV, such as a mini-fridge, TV or camping gear, when making this assessment. You should always note the value of your belongings kept inside your RV to factor into your decision as to whether to take out a comprehensive policy or not.

Wondering which type of RV insurance is right for your family? Call our agency for personalized assistance.

Protect your home away from home. Call Guardian Insurance at (855) 464-8273 for more information on Lawrenceville RV insurance.