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How much does RV insurance cost? What is the cheapest RV insurance on the market? Learn the answers to these and more inside.
If you plan to live in your RV full-time or temporarily, you’ll need to purchase an RV insurance policy. An RV is an investment. The same concepts that apply to insure your brick and mortar home or passenger car apply to an RV insurance policy. Choosing the proper coverage to cover your house on wheels from theft, damage, and contents protection calls for cautious consideration. On average, full-time RV insurance costs around $1500. RV insurance costs range from $1000 to $2000 for most RVs in the US. However, RV insurance policies and costs can vary according to the type and condition of RV, the state, and the market in general.
Read on to learn more about RV insurance and how to choose the right policy for your travels.
What is RV Insurance?
RV insurance coverage varies between recreational and full-time policies. It protects you, as a recreational vehicle owner, from excessive out-of-pocket costs in the event of a loss or if you are at fault in an accident that causes bodily injury or property damage. It can also provide compensation for your costs if you have a roadside breakdown.
Factors Affecting Your RV Insurance Rates
In addition to your region, you’ll find that many other factors affect your rates. The following are some of the key variables that will affect your average RV Insurance cost:
The type of motorhome you drive: There are so many kinds of motorhomes that it is nearly impossible to get a “typical cost” until the particulars of your RV make and model are known.
The age and condition of your RV: Even comparing two relatively new RVs of the same make and model, there will be differences in value based on wear and tear.
Your experience driving an RV: Driving a motorhome is very different from driving a car. RV drivers require a period of adjustment to learn about height restrictions on bridges and in parking garages, checking blind spots, and watching “back swing” when turning corners in tight spaces. The more experience you have as an RV driver, the less risky you are to insure.
Accidents and traffic violations: Your history as a driver matters. If you have been in several accidents or have a number of traffic tickets, an insurance company will consider you at greater risk for another accident.
Where you live: If you live in an area with higher rates of accidents and thefts, your insurance cost will likely be higher. Areas with mountainous terrain or severe weather conditions, such as thunderstorms and blizzards, typically have more dangerous road conditions.
Where you will travel: How and where you use your motorhome makes a difference. If you only use it occasionally, you will not face as many risks as a full-timer. How far you travel is also important; you will experience more potential hazards by spending a month on the road and traveling thousands of miles.
How much you drive: If you are a full-timer and your motorhome is also your main residence, you will likely have higher insurance costs for two reasons – because you are on the road more, and because the risks of homeownership are associated with your RV instead of a street address.
How many claims you file: Let’s say you get into a number of scrapes in the process of learning how to navigate turns and lane changes in your new Class A motorhome. If you file a claim against your insurance policy for each one instead of managing some of the costs out of pocket, your insurance costs will rise.
The type and amount of insurance you buy: Even taking into account all of the factors above, the typical cost you can expect to pay for your motorhome insurance will depend upon what you get and where you set your limits.
What Coverage Do I Need
Because an RV is a vehicle, it makes sense that an insurance policy covering comprehensive (liability) and collision incidents would apply. But because an RV is also a temporary or even permanent home, RV insurance runs a bit deeper than a standard vehicle policy. RV insurance is basically a blending of elements from both a vehicle and a homeowner’s insurance policy, resulting in a complete, specialized coverage package. In addition to the basics, choosing from different options and levels of coverage are what makes RV insurance a smart move for complete protection. Some specialized RV coverage options include:
Total loss replacement
Personal property replacement
Emergency insurance coverage providing food, lodging, and alternate transportation should your RV break down while on the road.
The RV lifestyle is all about hitting the open road and the up-close-and-personal experience of enjoying the great outdoors. However, having the peace of mind that your RV, personal contents, and pocketbook are all protected in case of an incident or accident while on the road is priceless. For full-time RVers, insurance coverage has got your back with even more customized options:
Liability (damage to people or property) in the event of accidents in the RV, at the campsite, towing expenses/damage.
Stolen personal items not covered under a standard homeowner’s policy.
Comprehensive coverage for theft, vandalism, or fire.
Storage expenses.
Average RV Insurance Costs Based On RV Classes
Class A-type RVs are also known as motorhomes. These are the largest and most expensive types of RV. Premiums are calculated based on various factors as listed below. According to estimates, the average annual insurance premium for a gas-powered Class A motorhome is approximately $1,000-$1,300, based on usage of 140 days per year.
Class B recreational vehicles are also known as camper vans, conversion vans, or simply a Class B motorhome. These types of RVs are the smallest of the three categories. These RVs can be covered under a standard vehicle insurance policy. Annual premiums are calculated the same way a standard auto policy is calculated. These factors include driving record, the primary location of the vehicle, value, type of coverage, and specific insurance company rates. Due to the many different factors, rates are too varied to list.
Class C recreational vehicles are mid-sized, motorized styles. Most Class C motorhomes feature space, usually a sleeping area, which extends above the main cab compartment. Premiums are calculated on factors that vary by state, type/frequency of usage, age/value of RV. On average, annual premiums run anywhere from $800-$1,000+.
Fifth-wheel trailers and other travel trailers are less expensive to insure. Premiums vary significantly by state, age/value, size, and usage. A typical policy includes a minimum of comprehensive and collision coverage. Based on the many factors affecting premiums, it can cost anywhere from approximately $200 up to over $1,000 for newer, more frequently used trailers.
How to Get Discounts on RV Insurance
Bundling – The more policies you have, the more money you can save. It’s possible to bundle just about everything from auto and homeowners’ policies to motorcycle or boat policies.
New owner – If you are the original owner of a motorhome, you may qualify for a discount. An original owner of a trailer may qualify for a discount for taking out comp/collision coverage.
Paying the entire annual premium in full - Total annual payments are another way to qualify for a discounted rate.
Good driver – A clean driving record for at least three years may result in a nice discount.
Claim free – Filing no claims means saving money on discounts applied to new policies.
Autopay – By keeping administrative fees to a minimum, insurance companies can pass the savings on to you when premiums are taken out of your account automatically each month.
Paperless – Online statements and payments save time and money, which may result in a discount.
Non-smoker – Some insurance companies offer a discount for healthy, responsible lifestyles. Non-smoker discounts are something to ask about.
Anti-theft devices – Doing your part to prevent theft and damage save insurance companies thousands per year. Any preventative measures taken can result in a discount.
Best RV Insurances To Get Quotes From
Good Sam RV Insurance – Best for RV Full-Timers
National General RV Insurance – Best for Policy Customization
Progressive RV Insurance – Best for Variety of Vehicles
Safeco RV Insurance – Best for Optional Coverage
Nationwide RV Insurance – Best for Multiple Discounts
Geico RV Insurance – Best for Affordable Rates
Auto-Owners Insurance – Best for Personalized Customer Service
Get Insured Today!
Everyone's insurance policy will look different based on their RV and needs. I promise there is a policy out there for you!
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