RV Insurance During the Off-season
Recreational vehicles (RVs) are a prized possession for millions of Americans. They allow families to enjoy economical vacations whether exploring the country or just the local campground. While vacationing in an RV is often cheaper than many hotels on a per-night basis, RVs have a number of costs that do not go away once the fun is over.
Maintenance is required to keep your RV operating in tip-top shape. Then there are the costs associated with off-season storage, including winterizing and storage fees. But the one cost where there may be an opportunity to save a few dollars during the off-season is on your insurance.
Before you contact your insurance agent and begin changing your insurance coverage, it is best first to understand the function of the coverages provided in your insurance policy. Although each policy is specific to the needs of the RV owner, most policies have the same basic coverage terms including:
Bodily injury liability – Covers the medical cost of injury you caused in an at-fault accident.
Property damage liability – Pays for another person’s vehicle or property if you cause an accident.
Collision – Repairs or replaces your RV if you are in an accident, regardless of who is at fault. Rollovers are covered by collision.
Comprehensive – Pays for damage caused by incidents other than collisions, such as weather-related events such as fire, storms, and floods. Coverage is also afforded for theft and run-ins with wildlife like deer.
Medical payments – Also known as no-fault, med pay will pay for you and your passenger’s medical costs regardless of who caused the accident.
Uninsured/underinsured motorist – Protects you from drivers who do not carry, or do not have enough insurance to cover your costs associated with an accident in which you are not at fault.
Your coverage needs will vary depending on the type of recreational vehicle you own. The needs of a class A or C owner differ from owners of a travel trailer or 5th wheel. Those towing their recreational vehicle will be provided certain coverages under their tow vehicle’s policy while the RV is in motion.
It is important that if you use your RV as your primary residence, a homeowners policy is likely more appropriate. Coverage under a homeowners policy usually requires the unit to be permanent (wheels removed).
Cover Only the Unexpected
Putting your rig in storage for the off-season can often be a sad time of year. The camping season is over, and all that remains are the memories from your travels. But, saving a little money on your insurance during the off-season may be just what you need to perk back up.
One method of reducing your insurance premium to insure your vehicle only for comprehensive coverage. Comprehensive only coverage will still provide protection if your RV is damaged due to a weather event, stolen, or vandalized.
Most insurers will require your RV to remain in storage for at least 90 days before coverages can be added back. This means you should not consider changing your policy to comprehensive only coverage if there is a chance you may want to use your recreational vehicle before the next camping season.
Delete Optional Coverages
Optional coverages are just that, optional. Your policy may include a number of enhancements that serve little to no purpose, while your RV is in storage. Consider removing the following options from your policy:
- Vehicle rental
- Campsite liability
- Towing and labor
- Roadside assistance
- Emergency expense
The savings to remove optional coverages may not be substantial, but every little bit helps. Just remember to add your optional coverages back onto your policy before heading out next season. While the cost of each enhancement may be minimal, benefits such as towing and emergency expense can be vacation saver when your RV breaks down.
One of the most popular premium saving methods is increasing your policy’s deductibles. Higher deductibles mean you retain more of the financial risk if you are involved in an accident. It also means a higher deductible will apply if your RV is damaged or stolen while in storage. Be sure to ask your insurance agent if you are able to reduce your deductible once you are ready to hit the road as some insurance companies will reduce deductibles only at renewal.
Ask for Discounts
When contacting your insurance agent about changing your insurance coverage for the off-season, ask that all available discounts are applied. New discount offers may have been announced since the last off-season. Alternatively, you may now qualify for discounts not previously available such as:
- Claim free
- Paid in full
- Good credit
- On time payer
- Original owner
- Responsible driver
Getting married may also provide a nice discount on your RV insurance. Every insurance company has a different method of determining your premium and discounts. Your insurance agent can shop your coverage to take advantage of your specific situation and maximize the discounts available to you.
Finding the Best Coverage
Whether you are a weekend warrior, ready to set out to a nearby campground, or a full-time nomad exploring this great country, obtaining the coverage right for you and your rig will keep you moving.
To learn more about finding the right RV insurance solution for you and your rig, contact the experts at DemontInsurance.com at (850) 942-7760. Our licensed insurance experts will be happy to answer any questions you have.