10 RV Insurance Mistakes You Should Avoid

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10 rv insurance mistakes you should avoid

Accidents are around every corner. Whether we are moving in a vehicle or the comfort of your home, we can’t control what’s to come.

Being prepared could be your best weapon in every life’s unexpected misfortunes. One thing that can help you survive uninvited karma is insurance. But, buying insurance can be expensive, most especially with RVs. Remember that an RV is both a car and a home, so you need an insurance policy that covers the aspects of both.

You also need to do a lot of research and find the right insurance broker. You don’t want to end up paying thousands of dollars only to find out that you are not covered at all. The right insurance can help you prevent all the financial stress during an accident. Thus, take note and avoid these mistakes when getting your RV insurance policy.

You Prefer The Cheapest Insurance Policy.

Avoid the cheapest insurance policy. You are only wasting money if you choose insurance with too little coverage. You could end up with more crucial dilemmas down the road.

Opting for the cheapest policy will result in not having any coverage at all. Most inexpensive insurance policies have the least liability coverage. Liability coverage helps pay for the expenses if you get into a car accident.

Also, most insurance policies will only pay the limit that a liability coverage stipulates. If that amount is not enough to cover the damages of the accident, you will pay the discrepancy. Thus, choosing cheaper insurance with lower liability coverage will only bring a crisis. You’ll end up carrying all the financial responsibility.

In the end, the cheapest policy can cost more. Thus, buy insurance policies based on the coverage and service they provide. Always choose a policy with adequate liability coverage. As they say, quality is more important.

You Think That Car Insurance Is Enough To Cover Your RV.

An RV is more than a car. Thus, it requires an insurance policy that accommodates its unique needs. Keep in mind that regular insurance will only cover a trailer if it’s connected to the car. Thus, it would be best if you had separate insurance for the motorhome itself.

If you’re living in your RV full time, you’ll also need to cover emergency expenses. Regular car insurance won’t reimburse you for living expenses when damage occurs.

Your RV also houses expensive equipment, unlike a regular vehicle. You can carry stereos, tv, or even another car. Be sure to secure a policy that has a replacement option for your investments.

Having these policies will insure your vehicle and the motorhome. Don’t hesitate to ask your local insurance broker if you accommodate your RV to your auto insurance policy.

You Are Getting an Insurance Policy From Inexperienced Brokers.

An inexperienced broker will only prevent you from getting the best policy. Your broker is your consultant when it comes to getting insurance. He/she will provide insight, suggestions, and even offer discounts. Thus, it will benefit you if you choose a reliable insurance broker.

It also helps if your car insurance broker can assist anywhere in the country. An accessible insurance broker can make your life easier. As an RVer, you’ll travel in-between states. If you’re in an accident away from home, you’ll have a hard time filling claims if your agent is unavailable.

Also, work with agents that specialize in RV insurance. Those who specialize in RV insurance policies can provide more suitable coverage for you.

If you don’t know where to start, consider checking local insurance brokers near you. There are many licensed brokers that offer personal, business, and auto insurance from top insurance carriers. These brokers are reliable in providing the right insurance policy at an affordable price.

You Are Hiding Your RV’S Modifications From Your Insurer.

The insurance quotation you get for your RV is due to its performance. Models with more powerful engines and expensive modifications cost more to insure.

Trying to hide these modifications to cut your insurance cost will only do you more harm than good. Once they know that you didn’t include a conversion, it will make your policy invalid. Thus, it is crucial to inform your local insurance agent of every improvement you make with your RV.

You should also inform your insurance broker if you decide to change your RV after getting a policy. Any changes with your RV will affect your current insurance.

You Did Not Understand The Fine Print.

You’re making a big mistake if you don’t understand your insurance policy. Understanding the fine print is the most crucial aspect when you’re getting into a contract.

A lack of understanding will only confuse and frustrate you. You will only end up stressing about your insurance because you don’t understand how it works.

To avoid misunderstanding, talk with your car insurance broker and ask questions. It would help if you also read the fine print. It may be laborious, but it is also rewarding. You can also read articles online about insurance policies to strengthen your comprehension.

If something confuses you, always ask your agent to explain things to you. It’s also best not to assume anything when it comes to your insurance policy. Make sure that you verify it with your insurance broker.

You Are Buying an RV That You Can’t Afford.

You can afford an expensive RV through motorhome financing. But, aside from paying the loan, you’ll also need maintenance costs and insurance along with other fees.

Remember that getting anything that you can’t afford will only overwhelm your finances. Thus, it would be best to look at the other expenses before getting anything.

Make sure you talk with your local car insurance agent and discuss the type of RV you want to get. An insurance agent can give you an estimate of the insurance cost so that you know beforehand how much you need.

You Are Missing Out on Potential Discounts.

There are plenty of insurance agencies that offer savings and discounts. Avail these offers to reduce your insurance cost.

Try to find a car insurance broker that offers multi-vehicle discounts. You’ll get more affordable insurance if you cover your RV and another vehicle on the same policy. Others even offer rewards for clients with a safe driving record.

Try to inquire about any specific offer when shopping for an insurance policy. Most agents only offer special discounts if you ask!

You Are Not Shopping Around.

When buying insurance, you have to look at more than one insurance provider. If you only check one company, you are limiting your options. You should check various companies and get several free quotes.

Weigh your options and consider checking the deductibles, offers, and coverage. Ensure that you are getting what you need. Doing so will also help get the right policy at a reasonable price.

It would help if you also give yourself enough time to decide. Giving yourself time will allow you to contemplate and avoid making rash decisions. You may even discover a more reasonable option along the way.

If you want, you can reach out to your local insurance brokers and compare companies for the best rates. They can also provide recommendations on coverage. You can also request accurate insurance quotes based on your needs.

You Fail To Explain How You Will Use Your RV.

Your insurance provider should have a clear understanding of how you plan to use your RV. Different RVers carry different lifestyles. Some use a motorhome as a house, while others use it for occasional vacations.

If you don’t explain how you tend to use your RV, your agent can not provide the appropriate policy. Also, if an incident occurs beyond your intended usage, you won’t have any claims. In dealing with a car insurance broker, honesty is the best policy.

You Are Renting Out Your RV.

Renting an RV is a business venture, and several policies will not offer coverage for this use. It is also not under a personal insurance policy.

If you are planning to lease your RV out, inform your insurance provider. You can get separate insurance coverage related to RV renting to safeguard all parties. That includes the renter, the RV, and yourself. Always remember that personal and business use carry different insurance policies.

You Are Overlooking Possible Life Changes.

Any life changes can impact your insurance and the rate of your coverage. Your RV may be your least priority when you get a new house or turning another year older. But, these life events could impact the policies you need.

Thus, always update your information and keep your insurance policy current. Any new life event is an opportunity to reexamine your RV insurance coverage.

Takeaway

These are a few of the coverage mistakes that RV owners should consider. Make sure you’re paying close attention to these things when you get your RV insurance.

Avoid any of these mistakes, and you’ll have a peaceful mind. If something happens on the road, you won’t worry because you have the right insurance policy. Enjoy your next RV adventure!

Author’s Bio

Lauren Cordell was a certified RV full-timer. She lived in her RV for three years and travelled across the United States. Loren is now a permanent resident of Los Angeles after getting married and giving birth to her daughter. She enjoys occasional boondocking with her family in summer. In her free time, she writes about her lifestyle and experiences on her blog.

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