RV Insurance for Seniors
When seniors retire, many use their new free time to travel. While some may add a few stamps in their passports, others take to the open road in an RV, otherwise known as a recreational vehicle. An RV brings along the comforts of home while you’re on the road as you travel from state to state and explore. RVs are appealing to seniors because they can work with pretty much any budget. There are simple ones that contain just the basics and then there are luxury RVs that can include things like king-sized beds and flat- screen TVs. The sky’s the limit!
As with any other type of vehicle you take on the road, you need to have insurance. All states require it. But, you also want to shop around so that you get the best deal with the most coverage possible.
What Does RV Insurance Cover?
RV insurance covers much of the same areas as regular auto insurance does, including:
- Collision – This will help to pay for repairs to your RV if you cause a crash or crash into an object, like a tree.
- Comprehensive Coverage – This can cover a wide variety of issues like vandalism, theft, or even damage caused by an animal.
- Liability Coverage – In order to legally be on the road with your RV, you’ll have to have at least the minimum liability coverage required by your state for automobiles. If you’re at fault for a crash, liability coverage will pay for injuries to the other driver and damage their property sustains up to your limit.
While those are the basic areas of coverage, you can also opt for additional coverage to take care of things like:
- Total loss replacement
- Campsite & vacation coverage
- Towing & roadside coverage
- Uninsured & underinsured coverage
- Personal property
- Personal attachments (awnings, satellite dishes, antennas)
If you’re going to travel extensively with your pet, you can also look into pet insurance as part of your coverage. This can help if something were to happen to your pet while you were on the road.
All of these factors will weigh into the cost of your RV insurance. If you plan on leaving your RV in storage for an extended period of time, look into storage coverage. This can drastically reduce the amount of your monthly premium.
Is There Anything RV Insurance Doesn’t Cover?
The answer to this question may vary from carrier to carrier, but generally travel trailers, campers, and other non-motorized units would not be covered. Those items would need their own separate policies.
Also, many companies won’t cover you if you travel to Mexico and end up needing to use your coverage. Some companies also exclude Canada from their coverage. If you plan to travel to either of these places, be sure to ask so that you don’t end up with any unwanted surprises.
Why Can’t I Just Get Regular Auto Insurance For My RV?
Regular auto insurance will not cover living spaces in the RV such as kitchens and beds. It will only cover the “vehicle” portion. To best protect yourself and others on the road, it’s advised to opt for the RV insurance.
How Much Does RV Insurance Cost?
There is no flat-rate insurance cost, but there are some general rules of thumb when it comes to determining your cost. First, the type of RV you have will play a role. If you have a Class A model you can expect to pay the most expensive coverage, followed by Class C. Class B vehicles typically cost the least to insure. It is possible that a Class A recreational vehicle will cost you around $2,000 a year to insure, while a Class B could fall in the $1,000- $2,000 range.
Other things to take into consideration are your driving record, how frequently you use your RV and whether you actually live in it, and the limits and deductibles on your policy.
If you actually live in your RV versus a regular home, this can also play a major role in the final cost of coverage a year. You can also choose between full-time and part-time coverage depending on how frequently you use your RV.
Where Do I Get an RV Policy?
Whether you already know the type of coverage you want or you need help devising a policy, an insurance agent can help. You can look at various companies near where you live so that you can compare coverage and cost. Any agent can review your policy and advise you about the best plan for you.
The bottom line is that if you have an RV you need to have some type of insurance. The type of coverage and what it includes can be totally up to you. If you’re going to invest in an RV, then you should invest in enough coverage to protect it and yourself while you’re on the road.