Many people purchased an RV or a camper during the COVID-19 pandemic. They sought a way to have vacations safely and spend time with family without worrying about canceled reservations. In fact, according to the RV Industry Association, December 2021 showed total shipments from RV manufacturers up nearly 47% from the previous December.
RVs and Campers aren’t Cheap
Travel trailers often cost upwards of $10,000, while a luxury motorhome can reach a price of up to $500,000! That’s more than most people pay for their primary residence. Therefore, you must protect your investment by insuring it against any of the many things that can damage it.
Comprehensive and Collision Coverage
Comprehensive coverage will protect against losses caused by vandalism, rocks that hit your RV on the road, acts of nature, cracked windshields, and collisions with animals—even theft.
The way most policies cover RVs is by using the actual cash value of the RV at the time of the accident. Unfortunately, depreciation immediately happens once a motorhome is driven off the lot. That’s why total loss replacement is an option worth considering. With a total loss replacement policy, the insurer and the insured would have previously settled on the amount needed to replace the RV. In the event of an accident, the insurer would pay that amount.
Liability Coverage for Motorhomes
If you’re in a car and an RV hits you, it’s a bad day. An RV is a large vehicle and can do a lot of damage in an accident. So, RV owners must have an RV insurance policy that covers liability for their motorhome. This coverage pays for damage or injuries you cause while driving your motorhome. It also covers legal fees that may result from the accident.
The liability of a pull-behind trailer is usually covered under the towing vehicle’s policy.
Hotels and Roadside Assistance
Another thing to consider when traveling with a camper Is what to do if your RV breaks down. After all, you are living in your vehicle. Having an RV towed is expensive. In fact, it can cost up to $130 just to hook the tow truck up to your motorhome. And where do you stay while your motorhome is being worked on? Having a policy with additional roadside assistance and coverage that pays for a hotel when your RV needs repairs is something to consider.
Are You Using an RV This Summer?
Make sure you have the coverage you need! The independent insurance agents at Hermann Insurance want to help protect your motorhome without putting a big dent in your wallet. To discuss your insurance needs and how we can help meet them, Contact us today.
