Leaving home without the insurance you need is like hitting the road without your hitch locked. You might get lucky and make it home unscathed—but hit the wrong bump and your investment is toast. However, RV insurance might be even more confusing than regular insurance, which is to say that it can be very confusing. So save your time and energy with some quick answers to your insurance questions.
Common Questions and What-Ifs:
“Is insurance required?”
Not every RV has to have insurance, and every state regulation is different. Doublecheck your state’s requirements before any trips.
“What are my options?”
Like car insurance, you can get liability coverage or comprehensive coverage, which means more types of damage are covered in the event of an accident.
“Do I need liability insurance?”
There are three times you typically must carry liability insurance:
- if you’re driving a motorized RV,
- if you still owe on a loan for the vehicle, or
- if you’re driving a rental.
“What if I still owe on a loan?”
You probably will have to carry full coverage because whoever owns the title will want to be compensated if you have a total loss.
“What if I own a towable trailer with no loan?”
You might not have to carry insurance depending on what state you live in.
“What if I’m renting using a credit card?”
Check with your card issuer to see whether your program offers additional insurance.
“How much will it cost?”
Just like a car, insurance costs vary widely based on the vehicle and the driver, but can range anywhere from $125 annually for some liability-only policies and up to $1,000 annually for nicer motorhomes.
“Are discounts available?”
Many insurance providers give discounts if you carry multiple policies. At a minimum, you should get a quote from your current automobile insurance company.
“Is insurance the same for full-timers?”
You might want to consider a special policy designed for folks who use their RV as a full-time residence. This typically includes some extra coverage.
“Is the RV the only thing covered?”
There are almost always extra things you can pay for, like pet injury coverage, cost for hotels during an emergency, vacation liability, and more.
“Are there RV-specific policies?”
Most major insurance providers offer RV insurance. A great example is GEICO, which has several RV-specific policies to cover motorhomes and towables.
Important Insurance Premium Factors
- The provider you are using
- Type and size of your RV
- How often you use your RV
- Custom equipment
- Who is driving your RV
- Discounts you may qualify for
How to Pick Your Provider
It’s fine to pick the cheapest provider if you’re looking to pinch pennies. But, consider that if a major loss occurs, it will be a significant emotional event. And the quality of your provider will make a big difference in how you'll make it through. That’s why we suggest starting with a provider you know and trust.