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How Much Does RV Insurance Cost?

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 | November 13, 2020

Recreational vehicles give you the freedom to explore the country on your terms—with all of your comforts and essentials along for the ride. Whether your RV is your primary residence or use it for weekend vacations, RV insurance is a must-have to keep your vehicle, belongings, and other assets safe. But how much does RV insurance cost?

We know there are a lot of expenses that go into keeping your RV up and running. From gas to the cost of a generator, piling on insurance costs can sometimes feel like “just another bill.” In this article, we’ll go through the benefits of RV insurance, how much it costs, and discounts to reduce your RV premiums so you can have access to full coverage at a price within your budget.

What is RV insurance?

RV insurance is similar to auto insurance. It can help cover your personal liability if you are found at-fault for someone else’s injuries or property damage while driving your RV, and it can help cover your own RV in the case of certain covered perils like collisions, theft, or fire.

A standard RV insurance policy will include bodily injury liability, property liability, collision and comprehensive, and some level of personal property. A lot of carriers offer supplemental optional coverage as well, which you can read about here.

Learn the differences of insuring an RV, motorhome, and camper here.

Do I need RV insurance?

Most states require RV insurance, just like they require auto insurance. If you finance your RV, your lender will likely also require that you carry insurance.

When you’re driving your RV, you have the same risks and liabilities as anyone else on the road. Accidents, both small dings and large collisions, are more likely in an RV, so you want to have your liability covered as well as coverage for your own RV itself.

If you don’t have RV insurance, you would have to pay out of pocket for any incidents that arise. If you cause an accident that results in $80,000 in property damage and $100,000 in medical bills, you would be entirely responsible for those costs. If your RV is stolen, you wouldn’t have an insurance company to help you reimburse the cost of that RV or the belongings inside.

A recreational vehicle is a risk and a huge asset. You absolutely want to consider to having it fully and completely covered with the right RV insurance policy.

How much does RV insurance cost?

RV insurance cost can vary from a couple hundred dollars to a couple thousand. Some of the variables that impact RV insurance rates include:

  • Model, type, age of RV
  • Driver’s age and gender
  • Driver’s credit score
  • Driver’s driving record
  • Type of usage (primary residence versus vacation)
  • Intended number of days in use (usually broken into more or less than 150 days per year)
  • Risk of theft (storage location when not in use, location of storage and primary usage, crime rate in that location, etc.)
  • Type of policy and deductibles

The type of RV you’re insuring is the first major factor in the cost. A new, expensive RV will cost more to insure than a used one. A full motorhome with luxurious furnishings will cost more than a tow trailer.

Then, the drivers of the RV come into play. The primary driver will determine risk, but other drivers can impact the cost of insurance as well. The more experienced the driver is with an RV, the lower their insurance rates will be. A less experienced driver will see higher insurance rates. Your insurer will determine this level of experience and associated risk based on age, driving record (with RVs and regular vehicle), and sometimes credit score (which can be used to evaluate risk level in some states).

Next, they’ll look at your overall risk of damage to your own RV. What is your risk of collision? What is your risk of natural disasters or theft? This is especially important in terms of collision and comprehensive insurance and your location is oftentimes a factor.

Finally, the policy and coverage will also matter. If you have low limit liability coverage and nothing else, it will be cheaper than an all-inclusive package. This doesn’t mean you should skimp on insurance, though. Doing so ends up putting you and your assets at major risk. (Figure out how to find the right kind of RV insurance for you here.) Rather, think of it like you are purchasing coverage. The more coverage you have, the more risk your insurer is assuming, so the premiums will be higher. This refers to both higher coverage limits as well as if you add optional coverage to your policy, such as pet injuries, vacation liability, personal effects, trip insurance, trailer coverage, and roadside assistance.

Your deductible will also play a role in how much your insurance costs: higher deductibles means you are assuming more risk, so your premiums will likely be lower. Learn more about the relationship between deductibles and premiums here.

Read: Do you have enough RV insurance?

RV insurance discounts

We know that the cost of RV insurance can feel prohibitive, but there are ways to make sure you’re getting a policy in your price range without sacrificing coverage.

Below are some discounts you can look into to help lower your RV insurance cost:

  • Bundling: If you purchase a multi-policy through an insurance carrier, they’ll likely offer you a discount. This means you purchase multiple policies through the same carrier for RV as well as at least one other insurance policy for auto, home, renters, motorcycle, and/or boat.
  • Payment: Your insurer may offer certain discounts if you pay the year in full at the beginning of your policy and/or if you “go paperless” with electronic payments. Also, if you show a history of paying monthly bills on time, they may also reward you with a discounted rate.
  • No-claim history: If you have no accidents on your RV or driving record and you haven’t made a claim in the last 3-5 years, you may qualify for a good driver discount.
  • Responsible driver: Along with a clean driving record, if you attend a defensive driving course, you could get a safety discount. Taking a safe driving course shows that the driver(s)of the RV are a lower risk, so you may be able to get a reduced rate.
  • Safety and storage: If you can prove that you have a safe spot to lock away your RV when not in use, you’ll be deemed a lower risk for theft and damages. This lower risk could translate into a discount on your RV insurance cost.
  • Vacation-only: If you don’t use your RV frequently, you may qualify for lower rates as well. The less you’re on the road, the lower your risk of liability or collision (which means a lower chance of you making an insurance claim). As long as you have secure storage, especially for the winter months, you can talk to your agent about getting a discount based on the number of miles you drive in your RV.

The best way to get the lowest rate on your RV insurance cost is to shop around. At InsuraMatch, we can help you shop from our wide array of insurance company partners to help you find the best available coverage for your RV (and other insurance needs). Our goal is to make sure you’re protected for all of life’s unexpected mishaps, while taking care to find you competitive rates and discounts.


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