WWhether you own a deluxe land yacht with all the bells and whistles or a simple folding camper, having any type of motor home or recreational vehicle represents a change in lifestyle…and insurance needs.
You can insure most motor home or recreational vehicles under your personal auto policy. However, specialized recreational vehicle or motor home policies provide better coverage. You won’t notice the difference until you need to file a claim, but then differences become apparent.
Auto policies pay actual cash value when your vehicle is stolen or totaled, but mobile home and RV insurance companies often offer agreed value coverage. With agreed value coverage, the insurer will pay you the amount you select when you buy the policy in the event of total loss or theft. Some insurers also offer total loss replacement coverage, which will pay for a new RV like the one you own if yours is stolen or suffers a total loss in its first five years.
RV policies can also provide unique coverages designed to prevent your vacation from turning into a nightmare. Your homeowners policy provides only limited coverage for your personal property away from home, and puts strict limits on coverage for jewelry, electronics and other valuables. Most mobile home and RV insurance policies offer better coverage for your personal property carried in the RV, along with coverage for attached accessories, such as satellite dishes and other valuable equipment. However, like regular homeowners insurance, flood is not generally covered, so be sure to find out whether you are in a flood zone and can purchase flood insurance through the National Flood Insurance Program.
Additional features of mobile home and RV insurance include:
- Vacation Liability: Coverage to protect you from claims if someone is injured at your campsite or in your RV.
- Towing and Emergency Assistance: You will need more than the kind of coverage on your auto policy. Consider that it costs a lot more to tow a Winnebago than a Mini Cooper, and RV servicers are fewer and farther between than auto mechanics.
- Additional Expenses: Some policies will even cover your temporary housing or travel expenses to help you get home if your RV is damaged while you are traveling.
To supplement the liability limit on your mobile home and RV insurance, you may want to consider purchasing an umbrella policy, which will supplement your liability limits for your homeowners, auto, boat and other policies as well.
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