Oh my! You nearly can't believe your good fortune! You've got your eye on a honey of a RV. Her motor purrs like a contented kitten. And judging from her appearance, her original human loved her as much as you will.
However, as a responsible citizen, you know the importance of RV insurance. Not only must you protect your family and yourself, you must consider events such as fire, theft and accidental collision. You're investing a considerable amount of your hard-earned money in the purchase of this pre-owned RV. As a savvy consumer, you're determined to explore every nook and cranny concerning insurance for motorhomes.
But – where are the best nooks and who's got the good crannies? Fortunately, we can help! Be aware your search can get complicated and confusing. You may want to start a notebook for questions and quotes.
If you already do business with a trusted agent, start there. If his company doesn't write RV insurance, he can likely direct you to a colleague.
Let's start with basics.
How do Insurers Determine RV Insurance Rates?
You will have to furnish information to the insurer such as:
• Your name and names of other persons to be insured.
• Driving record(s).
• Gender (male or female).
• Marital status.
• Year, make, model and mileage of your motorhome. Jot down a general statement describing the condition of your RV and keep it handy when speaking with insurance agents.
• Where you plan to store the RV when not in use. (garage, carport, rental facility, etc.)
• Will you be a full-timer (use RV as primary residence) or just use the motorhome for leisure and recreation (vacations, weekends, etc.)
• Project an about number of days per annum you plan to put motorhome to use. Generally classified as less than or more than 150 days.
• Make a list of your RV's safety devices.
• Make a list of personal possessions you plan to keep in the RV when traveling. Have this handy when talking with the agent about personal possession replacement coverage.
You can also expect the insurance company to perform a credit check.
How Much RV Insurance Coverage should I Consider?
Is your motorhome financed? If so, your lender expects you to carry full coverage so they can recover the loan amount in the event of a loss.
If your RV is fully paid for, you have a little leeway. Still, you must not totally eschew RV insurance, most especially if you plan to become a full-timer. If...