When considering the purchase of an RV, it’s important to consider additional costs as well as the cost of the rig itself. In addition to things like maintenance, registration, and gas, you’ll also need to factor the cost of RV insurance into your budget.
The fact that an RV is part vehicle and part home suggests that it could be quite expensive to insure a home on wheels. after all, we’re driving a kitchen, a living room, and even a plumbing system down the road. Plus, many of us carry most of our personal belongings in our motorhome, especially full-time workers like us.
Reading: How much is insurance for motorhome
But how much does motorhome insurance really cost? the answer may surprise you.
In today’s post, we’ll cover what it costs to insure a home you drive: a Class A, B, or C motorhome.
what is the difference between motorhome and car insurance?
Just as RV and auto use differ, so does RV and auto insurance. While auto and RV insurance policies typically cover property, liability, and medical coverage, RV insurance is based on how and when you use the RV, and you’ll be asked questions about its intended use when you apply for coverage. .
For example, if you use your motorhome for three months out of the year and store it for the rest of the year, not only will your insurance premiums reflect that short period of use compared to a car, but your insurance may also be suspended. motorhome insurance. or modified during the period of non-use. So if your motorhome is stored for nine months, you can choose to have only a certain type of property damage insurance or none at all, thus lowering your annual cost.
all over the us states, however, the only coverage required for mobile homes is the minimum liability coverage. That means you must maintain bodily injury and property damage liability coverage. In addition, many states also require insurance for the uninsured or underinsured (more on this later).
In addition to these requirements, RV owners can choose from several types of insurance to add to their coverage. these would also reflect usage: for example, whether you use the motorhome recreationally or full-time like we do.
Just like auto insurance, you can choose to include collision, uninsured or underinsured motorist coverage (whether required or not), comprehensive coverage, or towing insurance. And as you might expect, the more coverage you choose, the more your insurance premium will cost.
With RV insurance, you can choose certain RV-specific options like camping coverage, roof protection, and pest protection. (No, that’s not protection against bad drivers; it covers damage from bugs, birds, and rodents, and isn’t usually offered to owners of older motorhomes.)
But generally, unlike auto insurance, RV insurance falls into two categories: recreational and full-time. So if you don’t intend to live in your RV full-time like we do, recreational insurance will cover you (inside and out) when you’re on the road or parked at a campground.
Those of us who use our motorhomes as a primary residence can add coverages similar to those found in a homeowners insurance policy, such as personal liability and loss.
And as with any insurance, the cost also comes down to risk assessment. For example, based on your demographics and experience, how likely are you to file a claim? How much would it cost to replace or repair your motorhome? what kind of team are you driving? how will you use it?
Depending on the insurance company, you may also choose from several options, such as total loss replacement coverage, camping and vacation coverage, emergency expenses, and roadside assistance and towing.
Are you required to buy motorhome insurance?
yes. In all 50 states of the United States and all provinces of Canada, if the RV is going to be on the road, it must have at least the minimum required for liability coverage (bodily injury and property damage). In addition, many states/provinces also require insurance for the uninsured and underinsured. And since a Class A, B, or C motorhome is a vehicle, you must have separate vehicle coverage in addition to your auto insurance. (this is not the case with a travel trailer).
what is the cost of motorhome insurance?
RV insurance rates vary based on a number of factors, including the class of RV you’re insuring. For example, the cost of insurance for a motorhome is less than insurance for a class A diesel car.
You’ll also pay less to insure an RV you’ll use during the summer months camping in your home state than you will for an RV you’ll live in and travel in full time.
Just like auto insurance, your age and driving record will be taken into account, as will the options you choose to add to your coverage.
But here’s the surprise: In most cases, you’ll pay less for RV insurance than regular auto insurance. Again, this depends on the coverage you choose, how you’ll be using the rig and the motorhome you’re insuring, as well as a few other factors. But many people think RV insurance costs are probably astronomical, and that’s usually not the case.
According to the National Automobile Dealers Association (NADA), the average insurance premium for a Class A gasoline-powered motorhome is about $1,000 to $1,300 a year, based on 140 days of use per year. however, for a Class A diesel pusher (the highest end luxury RV), depending on age/value, options, and frequency of use, it can cost $2,000 or more a year.
A class b motorhome (sometimes called a motorhome) is the smallest of the three classes of motorhomes. this category also includes conversion vans. Depending on the age/value of the motorhome and a number of individual factors, annual costs for Class B RV motorhome insurance can range from $300 to $1,000.
class c motorhomes are the middle child of motorhomes. Annual premiums for Class C motorhomes typically range from $600 to $1,000 depending on the age/value of the vehicle, the state/province where it is insured, the age of the driver, and frequency of use.
what does motorhome insurance really cover?
bodily injury and property damage liability
This is the only RV coverage required by law in many locations. This liability coverage would include injuries or damages that you cause while driving your motorhome, including necessary legal fees due to an accident.
Other types of coverage may include:
This covers medical bills (up to the limits you choose) for you and your passengers in the event you are in an accident, no matter who is at fault.
uninsured and underinsured property damage and bodily injury
Some states require this coverage which applies if you are hit by an uninsured or underinsured motorist, which means you may not be able to pay for the damages you caused. this insurance would cover your injuries and damages up to your policy limits.
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There are two types of physical damage coverage.
- comprehensive coverage for your RV in case of theft, acts of nature, vandalism, windshield damage and things like rocks kicked up by other vehicles or if you must hit a large animal and cause damage to your motorhome.
- collision covers damage due to an accident, regardless of fault.
Both types of physical damage coverage carry a deductible, and the lower the deductible you choose, the more this coverage will cost.
Again, you can choose to add specific coverage such as roof and pest coverage, camping liability insurance, and emergency coverage, but it’s important to note that RV insurance does not cover mold, rot, and fungus damage. . damage from earthquakes and floods are rarely covered.
Also keep in mind that you’ll want to compare RV insurance from several different companies before making your decision. what may seem like a good deal at first glance could end up being a nightmare when you discover that your “low cost” insurance plan is actually cheap motorhome insurance… with “cheap” applying to quality coverage, not cost.
How much motorhome insurance do you really need?
You really need RV insurance that meets your state’s requirements. as noted above, all of us states & Canadian provinces require liability insurance (bodily injury and property damage) and some require uninsured or underinsured motorist coverage. Beyond these requirements, the amount of additional insurance coverage you choose is up to you.
Clearly, an RV is an important investment that requires protection, and you may want to consider additional insurance coverage so that your investment is adequately protected in the event of an accident or incident. In many cases, it’s much easier to pay yearly insurance premiums than the replacement cost of a new RV in case something bad happens to you.
But another option, if you don’t use your RV much, might be to look into short-term coverage. You may need to maintain a basic level of coverage to insure against loss of the RV while it’s in storage, but for your use, you may be able to get weekly RV insurance (or weekly RV insurance) for the period only. (s) ) of time the rv actually has on the road. check with your insurance broker to see what options they may offer you.
Is it worth buying motorhome insurance?
It’s definitely worth buying motorhome insurance, considering the cost is different for everyone.
first, you’ll most likely need to have liability insurance (and possibly other), so that’s it. But beyond the required insurance is the wisdom that your home on wheels is adequately insured in the event of damage, theft, vandalism, or any degree of accident, on or off the road.
A motorhome is a house that we drive. it can be a full-time household or a part-time household. it can be a weekend house only during the summer. you can travel anywhere from thousands of miles a year or just a few hundred. but it is a house that contains our personal possessions, and it is a vehicle that shares the road with many other people, people who are distracted with many things on their minds, changing lanes with phones and hamburgers in their hands. 🚘🍔🤦♂️
Accidents happen and covering your investment is a reasonable effort, especially when the cost of RV insurance is a fairly insignificant expense relative to the cost of the RV.
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