Most RV owners understand how important insurance coverage is for their motorhomes. What they may not know is that no matter what kind of RV they own, their insurance needs go beyond the scope of a traditional auto insurance policy. Lazydays insurance expert Judy McNab explains that, “There are components offered with RV insurance that aren’t available on a regular auto policy. And they can make a big difference.”
“Many RVs come with slide-outs, awnings, external racks and satellite dishes,” she says. “You’ll also want coverage for tow dollies and trailers. And because your RV is your home while you’re in it, the most effective coverage includes both auto and homeowner’s components.” Here are some of the options available on an RV policy that are not part of basic auto insurance.
Emergency vacation expense provides living expenses when your vehicle is uninhabitable due to an act of God or man, and you’re more than 150 miles from home. This includes food and lodging and in some cases transportation.
Vacation liability covers slip and fall injuries. When you stay at a campsite, it’s almost like renting a condo. You’re liable for the property you’re on, for yourself and for anyone visiting. If someone jogging through your campsite trips on your wiring and hits his head, it’s your liability exposure.
Full-timer’s liability coverage goes beyond vacation coverage. This works more like a homeowner’s policy, including personal liability along with living expenses. If you went golfing and you hit someone in the head with your ball, that’s your liability, and you need protection for accidents like that.
Personal effects coverage covers the replacement costs for the contents of your RV.
Diminishing deductible reduces your deductible over time. For every year you go without a loss, 25 percent of the original deductible is eliminated. After four years with no claims, you have no deductible.
Total loss replacement reimburses the entire replacement cost if your vehicle is totaled. This specific component is only written if the unit is less than two years old. If the damage occurs within the first 5 model years, the RV will be replaced with a brand new vehicle. For damages that occur in the 6th model year or later, you will receive the purchase price toward the purchase of a replacement vehicle.
Purchase price guarantee covers vehicles that are more than two years old. When you provide documentation of the purchase price, if an act of God or man destroys your RV, you’ll receive the purchase price toward a replacement.
Choosing to purchase your RV insurance from an agency like the Lazydays RV Insurance Center can also save you money. Many RVers have toys like Jet Skis, ATV’s, golf carts and motorcycles, all of which can be protected by Lazydays’ coverage partners. RV owners who tow campers or fifth wheels can also reduce their premiums by insuring both their RVs and the trucks they use for towing with one company.
Lazydays insurance agents are licensed to write in 35 states and are experts at knowing each state’s requirements. To assist RVers in determining the best policy for their needs, McNab offers a free insurance seminar every Monday at the Lazydays Sales Center in Seffner, Fla.
“Insurance is needed and it can feel complicated,” McNab says. “But when you have someone to help you filter through all the information, the RV insurance world can be simple and keep your investment protected.” To reach Judy McNab with questions about insurance or for more information on the seminars, call 1.866.317.4014.
Insurance Glossary
ACV (Actual Cash Value) What your insured item is worth at fair market value, including depreciation. This is what most auto insurance companies use when writing a policy.
RV (Replacement Value) What it will cost today to replace your insured item. This is what many RV insurance companies use when writing a policy.
Act of God The type of damage done by hurricanes, floods, tornadoes, winds and sometimes a wild animal, such as a deer.
Act of Man The type of damage incurred from a collision with another vehicle or entity.
PIP (Personal Injury Protection) A type of insurance required by some states that covers your medical costs, up to the purchased policy amount, in the event of an accident.
Under/Non-insured motorist This covers you in case of an accident with someone who has a small amount of insurance or none at all. It covers, up to the policy amount, what your auto insurance doesn’t pay if you need additional medical care.