With spring slowly making it’s way here and before you get out on the open road, make sure you have the correct coverage for your RV:
It’s a good idea to consider specialized coverage for your recreational vehicle (RV). It functions as a motorized vehicle some of the time and a home some of the time – having coverage for both of these purposes typically doesn’t come from just an auto policy or a home policy.
Here are top questions you ask your agent or broker when you are deciding what coverage to purchase for your RV.
1. Is my optional equipment covered?
Awnings, air conditioners, satellite dishes, LP tanks and bike racks can all be damaged, so ask if these things are covered by your policy. Be sure to discuss whether the coverage applies only to originally affixed equipment or if it includes equipment that you attach after purchasing your RV. A good policy will give you a set amount of coverage included with your comprehensive coverage, with the ability to purchase more.
2. Is my personal property inside the motor home or travel trailer covered?
Chances are you are packing your camping, cooking and other traveling equipment for your trip, including golf clubs or other things for entertainment. You can typically choose coverage for these items as part of a package. The one thing to double check about personal property is sometimes your homeowner’s policy can have exceptions regarding coverage for personal property in a motorized vehicle.
3. What type of coverage is best for me – Replacement Cost or Actual Cash Value?
Replacement cost coverage protects your motor home from the effects of depreciation and usually isn’t available with an auto policy. With a Replacement Cost policy, if your new-model motor home is destroyed within a certain period of time after purchase, the insurance company will replace it with a brand new one of similar kind and quality. If your motor home is destroyed and you only have an Actual Cash Value policy, which is typically what you’d get with an auto policy, you will only be paid the current value of your motor home.
4. What payment plans are available?
Whether you want to pay in full or in installments, having the flexibility to choose is an important option. Insurance companies offer many different plans such as one-pay, four-pay or ten-pay options.
5. Is towing or roadside assistance available?
Towing and Roadside Assistance is a great coverage to have if your motor home or travel trailer breaks down and can include towing, jump starts, roadside service, flat tire changes, fuel delivery and locksmith services. Specialized coverage is important and can exceed what you would get from an auto policy. You’ll want to be covered 24/7 by experts who have the equipment and parts to help with a bigger vehicle like an RV. Ask if coverage extends to any vehicles you may be towing behind you.
6. What about special coverages for full-timers or vacationers?
Some insurance companies offer these special coverages, which may cover full-timers when they are parked and using their RV as a residence. You can also ask about vacation liability, which may cover you in case you are found responsible for someone else’s injury in your motor home while it’s parked. Again, exclusions in your homeowners policy may play into what type of coverage you want to purchase for your RV, so take this into consideration when you discuss your options.
For more information please contact Radius Insurance Agency toll-free at (855) 840-1277 or call our local number at (803) 810-0677, or visit us at the Charlotte RV and Camping Show at the Charlotte Convention Center, February 21-23, 2014. We will be located at booth 41!