During the summer, many people all over the United States set out on trips in RVs. Some senior citizens take to the road in RVs when they retire, while others are full-time homes for families. Taking a trip in an RV can be an excellent way to explore the country and bond with family.
RV owners are often uninsured or underinsured. Many people think that RVs can be covered by a standard auto insurance policy, but there are some important considerations that can affect the type of insurance required and the cost. RVs need to be insured differently than cars because they are much larger and can cause different levels of damage in an accident. They contain many more possessions than cars and require different types of service if they break down. The way an RV is used is also very different than the way a car is typically used.
How Much Is Your RV Worth?
If you want to insure an RV, one of the most important things you need to decide is whether to insure it for actual cash value, replacement value, or agreed value. If you choose actual cash value, you will receive the amount if it is worth before a total loss. That means depreciation will be taken into account and you could receive less than you paid for it. If you choose replacement value, you will receive enough money to buy a new, comparable RV if yours is a total loss. Agreed value means the insurance policy will pay the value that you and the insurance company agreed on when you chose the policy.
Is Your RV in Good Condition?
The condition of your RV is another factor that will affect your rates for insurance coverage. An RV should be inspected for signs of wear and damage so necessary repairs can be made and so the value can be assessed accurately. The condition of the roof is especially important.
How Do You Use Your RV?
How you use your RV will affect the type of coverage you need and your rates. Talk to your agent about whether you use your RV for camping and vacations or whether it is used as a full-time home. If you rent out your RV, you may need a rental endorsement or another type of supplemental coverage.
Do You Have a Tiny Home?
The tiny home trend has been sweeping the nation. Some RVs are actually tiny homes that are built differently than traditional RVs and have different insurance needs. If you have a tiny home, you should have it inspected and certified by the Recreational Vehicle Industry Association or the National Organization of Alternative Housing. You also need to consider zoning laws. If you have a tiny home, you may be required to place it on private land.
Get a Quote for RV Insurance from Petruzelo Insurance
If you own an RV, it is important to make sure you have the right insurance coverage. An RV is very different from a car, and your insurance needs will be different as well. Talk to a qualified agent about the type of RV you have and how you use it to find the right insurance coverage. Petruzelo Insurance can help you compare quotes from several top insurers. Contact us today to learn more about RV insurance.