Factors That Impact the Cost of RV Insurance

Owning an RV opens a whole new world to you. It allows you to travel all over the country while enjoying all the comforts of being at home. You can visit campgrounds, national parks, outdoor festivals, and national attractions with ease. This allows you to enjoy all life has to offer even more. RVs are also vehicles that are an investment in your enjoyment in life, and like every investment and vehicle you have, you want to protect it. RV insurance is one such way to protect your precious assets. However, the cost of RV insurance will vary based on several factors. Below, we will explore these factors to help you make an informed decision on what type of RV you may want to purchase and the coverage you want for that RV.

• RV Type and Class: The type and class of your RV play a significant role in determining insurance costs. There are several classes of RV which include class A, B, and C. Class A are the largest and most luxurious RVs which will require the cost the most for insurance while class C are the most compact RVs and will cost the least to insure. Additionally, fifth wheels and travel trailers may have different insurance requirements and rates.

• Usage and Mileage: How you use your RV and the number of miles you travel each year can affect insurance costs. Naturally, the more you use and drive your RV, the more insurance will cost. That is because the more you use it or drive it, the more chance there is of being involved in an accident or having an issue with your RV. If you make your RV your primary residence, you may need specialized coverage, which will cost more money.

• Driving Record and Experience: Much like your normal auto insurance policies, RV insurance considers your driving record and experience. A clean driving record with little to no accidents will lower your insurance premiums. If you have a driving record that is full of insurance claims and/or traffic violations will mean that your insurance premiums will be higher.

• Location and Storage: Where you live and store your RV can affect insurance rates. Areas with higher crime rates or that experience extreme weather conditions may have higher insurance premiums. Additionally, if you store your RV in a secure facility or have anti-theft devices installed, you may be eligible for insurance discounts. Insurance providers consider the risk associated with your location and storage arrangements when determining your premiums.

• Coverage Options and Deductibles: The level of coverage you choose and the deductibles you select will impact the cost of RV insurance. Choosing policies with higher deductibles will come with lower premiums. However, choosing policies with more coverage such as comprehensive insurance which covers theft, vandalism, and natural disasters will cost more. So, you must consider what type of coverage you want and the deductibles you are willing to pay.