An RV insurance policy is not much different from other types of policies. The main difference is the variety of uses, models and responsibilities that are specific to recreational vehicles. The different types of RVs, from pop-up motorhomes, toy haulers, and motorhomes, can make choosing the right policy a bit confusing. In addition, the different activities, risks, and responsibilities of owning this type of vehicle could also make choosing a policy even more stressful. This article looks at the most common mistakes owners make when buying RV insurance.
Mistake 1: Assuming car insurance is enough
As an RV owner, you need to understand that this car is more than just a big car. It is a specialized vehicle that needs a different type of policy and coverage. For one thing, you need coverage that also accommodates the personal belongings stored inside. The policy should also include discounts that reflect when and where you’ll be driving the vehicle, as well as the services you need. That said, you need to make sure the policy has adequate coverage for a specialized car.
Mistake 2: Choosing Insufficient RV Liability Insurance Coverage
Liability coverage protects you in the event of an unfortunate incident, such as theft, vandalism, fire, that could damage your vehicle. Choosing insufficient liability coverage can result in huge financial losses, especially since medical expenses and lost wages can quickly exceed the coverage limit. For this reason, you should choose one that reflects your financial situation. Avoid blindly following state required minimums.
Mistake 3: Buy the policy with the lowest price
Even if you’re trying to save money, avoid buying the lowest price available. You must understand that reliable and specialized RV insurance is very important. You should compare features and services as well as prices.
Mistake 4: Ignore potential discounts
There are many things that can lower your premium. Built-in premium savings and discounts can help you in that area. Here are some of the discounts you may be eligible for:
- Combine coverage to insure your RV and other automobiles under the same policy or company.
- Rent a storage unit that allows you to hang covers you don’t need when you’re not using your RV.
- Installation of safety and security features in your vehicle
- Have a clean and safe driving record.
To take advantage of these discounts, you must consult with an agent. Take advantage of these discounts to enjoy more savings.