The Ultimate Guide to RV Insurance

Whether you plan on using your RV as a full-time home or for occasional road trips, insurance is a must. For the best financial protection, consider RV insurance. This coverage combines elements of auto and home insurance to account for the unique potential problems that could arise with a recreational vehicle. Many Insurance Companies will insure your RV, but often you are only getting coverage for physical damage, and it may not cover items that “RV Specific” Insurance does.

Lichtsinn RV Insurance

What does basic RV insurance cover?

A basic RV insurance policy may include slightly different coverage types depending on the insurer, but you can expect the following to be required or added automatically when you get a quote:

Liability insurance: To legally operate your RV, you’ll need at least the same amount of liability coverage that your state requires for car insurance. If you ever cause a crash, liability covers others’ injury and property damage costs, up to your limit.

Collision and comprehensive coverage: Collision coverage helps pay for repairs to your RV if you cause a crash or run into objects such as a tree or street sign. Comprehensive covers a variety of issues, including theft of your RV, animal collisions, falling objects, vandalism and more. Note that collision and comprehensive come with a deductible, which is the amount your insurer subtracts from claim payments. If you file a claim for $2,000 to repair damage from a fallen tree branch, for instance, and you have a $500 deductible, your settlement would be $1,500.

Uninsured/under-insured motorist coverage: Uninsured/under-insured motorist bodily injury coverage helps cover your and your passengers’ injury treatment if you’re hit by a driver who doesn’t have insurance, or who has some insurance but not enough to cover your bills. Uninsured/under-insured motorist property damage coverage kicks in at the same time but goes toward repairing your damaged RV.

Medical payments coverage: If you crash your RV, this coverage pays for injury treatment for you and your passengers, no matter who was at fault in the incident.

You might want to consider some additional RV insurance coverage that will protect your investment.

RV Full/Total Loss Replacement: If your RV is stolen or totaled, comprehensive coverage through car insurance typically pays a depreciated replacement amount. This means you only get back what your RV was worth at the time of the loss. With RV insurance, on the other hand, you can choose Total Loss replacement coverage and get back the replacement value of your RV plus tax, title, and license fees.

Vacation Liability: When your RV is in a park or campsite, it’s considered a temporary vacation residence. It’s wise to have liability insurance to cover the damages in case, say, someone is injured inside your RV or you accidentally throw a football through a neighboring camper’s window.

Pet Injury Coverage: Lichtsinn RV insurance offers pet injury coverage as part of your Collision coverage. This coverage pays up to $1,000 toward veterinary bills if your dog or cat is injured when you’re in a vehicle accident. We also cover them for Comprehensive claims, such as vehicle theft or fire. In the unfortunate event that your pet dies as a result of injuries sustained in your Collision or Comprehensive claim, we provide a $1,000 death benefit.

Personal Effects Coverage: RVs are made to be loaded with items and attachments that a traditional auto policy won’t cover, such as cooking appliances, sporting and camping supplies, satellite dishes, awnings and furniture. If your stuff is stolen or damaged, you’d need separate RV insurance to repair or replace it.

Emergency Expense Coverage: Pays up to specified limits for reasonable temporary living facilities, transportation and the cost of returning the RV if it becomes inoperable due to a covered loss more than 50 miles away from the primary residence. $750 is included when physical damage is selected. Up to $2,000 is available for Pleasure users.

For insureds who use their RV as a Primary Residence: Pays up to specified limits for reasonable temporary living facilities and transportation expenses if the RV becomes inoperable due to a covered loss. $750 is included when physical damage is selected. Up to $7,500 is available for these users.

For more information call:  1-800-343-6255 to speak with Brandon or Kevin in the Business Office today to find out how we can give you peace of mind that comes with knowing that you are getting the best RV Insurance at the lowest price!

Affording an RV: RV Specific Insurance

Beginning the RV lifestyle may seem like a daunting task, but our blog series Affording an RV will clear up misconceptions and reveal that RVing is an affordable, enjoyable way of traveling with family and friends.

RV Specific InsuranceWhy choose specialized RV insurance? Because you want to protect your investment as well as those you love. Your RV, whether it’s new or has some great road-trip miles on it, is a vehicle requiring special consideration.
 What’s Special About Specialized RV Insurance?
An RV is a home on wheels. Specialized RV insurance is a unique blend of auto and homeowner’s insurance coverage, yet the price is typically comparable or less expensive than standard auto insurance. The extent of coverage is the major difference between a standard auto policy and an RV-specific policy.As you and your insurance agent put together your customized RV package, keep the following coverages in mind for combination into a comprehensive policy.Total Loss Replacement (TLR)
With TLR coverage, also called Replacement Cost Coverage, if your RV is totaled, the insurance company either replaces your RV with a new one or pays you your initial purchase price, depending upon the age of your unit at the time of loss. Generally, this policy is in effect for the first five model years. After that, because of age, many companies convert TLR policies into Purchase Price Guarantee or Actual Cash Value policies.

Purchase Price Guarantee (PPG)
In case of a total loss of the RV, this policy will reimburse owners for the amount paid for the unit as written in the policy toward the purchase of another unit. Some insurers extend this policy for the life of the vehicle, while others offer it for the vehicle’s first 10 years and then convert to an Actual Cash Value policy in the 11th model year.

Actual Cash Value (ACV)
These policies will pay the prevailing depreciated, fair-market value of your RV in case of a total loss. ACV is the most common type of policy offered to RV owners.

Vacation Liability
This type of coverage extends to you while your RV is parked. If someone is injured at your campsite, your liability exposure is covered up to the specified policy limits.

Full-Timer Coverage (FTC)
FTC works like a homeowner’s policy for RVers who live in their vehicles full-time and who can be left with potential liabilities exposure, including personal liability and additional living expenses. FTC policies protect full-timers’ unique needs.

Diminishing Deductible Coverage
Designed to reward good drivers by reducing comprehensive and collision deductibles by 25% of your original deductible for each claim-free year until the policy reaches a zero deductible. If a loss occurs after four claim-free years, you pay no deductible on your claim.

Personal Contents Coverage
Covers personal property, such as housewares, tools, clothes and sporting goods. A homeowner’s policy may provide coverage, but there are often limitations to coverage for off-premises property, items in storage or belongings damaged in a collision. RV specialty policies replace stolen or damaged items at full replacement cost.

Other Benefits of RV Specialty Coverage

Add-Ons and Tow Dollies Included
Most RV specialty policies automatically cover items like awnings, antennas, external racks and satellite dishes for no additional charge. Additionally, tow dollies and trailers are often included in coverage.Agreed Value Coverage
Offered for classic coaches and bus conversion vehicles that don’t have a standard market value. With a bill of sale or qualified appraisal, you can lock in the coach’s value up front. This protects your investment in the RV without the worry of depreciation in the event of total loss.Free 24-Hour Emergency Roadside Assistance
With most policies, insurance companies will cover the towing of your RV to the nearest qualified repair facility, regardless of cost. These policies are often extended to the tow or towed vehicle, as well, if it’s being used in conjunction with the RV.

Emergency Travel Expense
If your RV is incapacitated because of a covered loss, most RV policies cover the cost of a rental car and/or hotel room while your RV is being repaired. If your RV is not repairable, the policy can cover airfare to return you and your family home.

Experienced RV Claims Handling
While you may never experience a serious loss with your RV, specialized RV insurance companies give you peace of mind knowing that your claim will be handled by professionals with RV experience, not simply standard auto adjusters.

Additional Discounts
Be sure to ask about all discounts offered by an RV specialty insurance carrier. Membership in an RV club, supplemental braking systems or completion of a safe driving course are just some of the discounts available on a state-by-state basis.

How Do I Find a Specialized RV Insurance Provider?
Lichtsinn RV Insurance is offered through the business office at Lichtsinn RV. Call: 1-800-343-6255 to speak with Brandon or Kevin in the Business Office today to find out how we can give you peace of mind that comes with knowing that you are getting the best RV Insurance at the lowest price!

The Final Word
If you currently own an RV, review your policy to be sure you have the protection described above at a reasonable price, and then perhaps field another quote for comparison. If you are thinking of buying an RV, be sure to discuss the availability of these coverages with an RV-experienced agent or insurance company. Protect yourself by properly insuring both your investment and the RVing lifestyle you enjoy with specialized RV insurance.

RV Insurance: Are You Properly Covered?

Are you happy with your current RV insurance?

 

Do you have the right coverage?

 

Are you paying too much?

 

Many Insurance Companies will insure your RV, but often you are only getting coverage for physical damage. It may not cover items that “RV Specific” Insurance does, such as RV Full/Total Loss Replacement (offered on newly purchased RV’s one model year old or newer: if your RV is totaled within the first 5 years, this policy provides the monetary equivalent of what it costs to buy a brand-new RV of the same or similar model, even if it costs more than what you originally paid for your RV.) Lichtsinn RV Insurance offers Agreed Value and Actual Cash Value Policies. RV specific Insurance can also cover items such as: Vacation Liability, Pet Injury Coverage, Fire Department Service Charges or Personal Effects Coverage for contents inside the RV. Most “other” Insurance Policies do not offer these additional benefits. We have found many of our Insurance customers do not have adequate coverage or are simply paying too much for the coverage they do have for their RV insurance. Unfortunately, by the time they realize this they may have already incurred substantial loss or expense.

Did you know that Lichtsinn RV offers RV Insurance!

If you are looking to buy a new RV or just simply looking for possible savings from RV Insurance you’ve already purchased elsewhere, one of our Insurance Consultants can provide you a no-obligation insurance quote. Lichtsinn RV Insurance offers Agreed Value Policies, where in the event of a total loss your payout amount is set for a full 10 years. Most insurance companies offer total loss coverage for a payout amount they feel your RV is worth at the time of the loss.

AND we have Multi-Policy Discounts! Our knowledgeable staff is also able to quote auto, home, motorcycle and boat policies that can provide you additional savings to you as well.

To learn more about Lichtsinn RV Insurance click here.