Average RV Insurance Cost: All You Need to Know

If you own a recreational vehicle or plan on buying one, it’s important to understand the costs associated with owning and insuring it. The cost of RV insurance depends on various factors such as the type of RV, its age, and usage. In this article, we’ll dive into the details of average RV insurance cost and everything you need to know about it.

Factors That Affect RV Insurance Cost

Before we discuss the average RV insurance cost, let’s look at the different factors that affect it:

Type of RV

The type of RV you own can greatly affect the insurance cost. Class A motorhomes, which are the largest and most expensive, have the highest insurance premiums. Class B and C motorhomes and travel trailers usually have lower insurance costs.

Age of RV

Older RVs typically have lower insurance costs than newer models. This is because the value of the RV decreases over time, and therefore, the repair and replacement costs are lower.

Usage

The frequency and nature of your RV usage can also affect the insurance cost. If you use your RV for full-time living, the insurance cost will be higher than if you use it occasionally for vacations.

Average RV Insurance Cost

According to a study conducted by RVInsurance.com, the average RV insurance cost is around $2,000 per year. However, this cost can vary significantly depending on the aforementioned factors and other variables such as your location and driving record.

The table below shows the average annual insurance cost for different types of RVs:

How to Save on RV Insurance

RV insurance can be expensive, but there are ways to save on it. Here are some tips:

Compare Quotes

Before buying an insurance policy, make sure to compare quotes from different insurance providers. This can help you find the best coverage at the most affordable price.

Bundle with Other Insurance

You can save money by bundling your RV insurance with other insurance policies such as home or auto insurance. Many insurance providers offer discounts for bundled policies.

Choose Higher Deductibles

Opting for higher deductibles can lower your insurance premiums. However, make sure to choose a deductible amount that you can afford in case of an accident.

Join RV Associations

Some RV associations offer members discounted insurance rates. Consider joining an association if you’re an avid RV traveler.

FAQs

1. Is RV insurance required by law?

RV insurance is not required by law in all states, but it’s recommended to have it for protection in case of accidents or damages.

2. Do I need full-time RV insurance if I only use it part-time?

No, you don’t need full-time RV insurance if you only use it part-time. However, make sure to inform your insurance provider about the frequency and nature of your RV usage to ensure the right coverage.

3. What does RV insurance cover?

RV insurance typically covers liability, collision, and comprehensive damages. Additional coverage options such as roadside assistance and personal belongings coverage are also available.

4. Can I cancel my RV insurance if I’m not using it?

Yes, you can cancel your RV insurance if you’re not using it. However, make sure to inform your insurance provider about the cancellation and re-apply for coverage when needed.

5. How can I lower my RV insurance premiums?

You can lower your RV insurance premiums by comparing quotes, bundling with other insurance, choosing higher deductibles, and joining RV associations.

Conclusion

RV insurance is an important aspect of owning an RV. The average RV insurance cost varies depending on various factors such as the type of RV, its age, and usage. By understanding these factors and taking the necessary steps to save on insurance, you can enjoy your RV travels with peace of mind.