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What Are the Different Types of RV Insurance?

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  • Written By: Jeremy Laukkonen
  • Edited By: Allegra J. Lingo
  • Last Modified Date: 11 September 2016
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    Conjecture Corporation
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There are many similarities between recreational vehicle (RV) insurance and policies that can be obtained for other cars and trucks. Most companies that insure other vehicles will also issue comprehensive, collision, and liability insurance for RVs. There are typically other policies available as well, since recreational vehicles can be lived in for extended periods of time. Specialized RV insurance policies often include theft coverage for any belongings that are contained within the vehicle and liability coverage for anyone that is injured in or around it. Other RV insurance coverages can pay for lodging and transportation if the vehicle breaks down on the road.

Most areas require liability insurance for recreational vehicles, just like any other car or truck. This type of RV insurance will pay for any damage that occurs as a result of the driver of an RV causing an accident or destroying property. Bodily injury and property damage coverage is typically required by law. Specialized RV insurance policies can offer expanded liability coverage. Unlike standard liability that only covers accidents on the road, special RV liability insurance can pay for any injuries that occur in or around the vehicle when it is parked.

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Collision and comprehensive insurance can also be a little different for recreational vehicles. One of the biggest differences is valuation for total losses, since RV policies often allow three different methods. The choices that are typically available are market value, agreed upon value, and replacement cost. In the event of a total loss, market value will allow the policy holder to be reimbursed for the amount of money that he could have sold the vehicle for. Agreed upon value is an amount that the insurer and insured set when the policy is issued, and replacement cost is the amount of money that it would take to buy a similar unit.

Since RVs are typically used in a different manner than other vehicles, many other types of insurance are available as well. Theft protection can be similar to homeowners insurance in that it will pay for any items that are stolen from the RV. Since normal comprehensive insurance typically does not cover stolen items, this can provide a measure of protection if there are any expensive electronics or other items inside an RV.

Vacation protection is another type of RV insurance that can be very important. When a recreational vehicle breaks down on the road, it can be expensive to find another place to stay on short notice. This type of RV insurance can not only pay for lodging, but it can also cover transportation costs, such as car rental fees.

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