An RV insurance policy is not quite different from other types of policies. The main difference is the array of uses, models, and liabilities that are specific to RVs. The different types of recreational vehicles from pop-up campers, toy haulers, and truck campers, can make choosing the right policy a bit confusing. In addition, the different activities, risks, and liabilities for owning this kind of vehicle could also make choosing a policy even more stressful. This article discusses the most common mistakes that owners make when buying RV insurance.
Mistake 1: Assuming that a car insurance is enough
As an RV owner, you need to understand that this automobile is more than just a big car. It is a specialized vehicle that needs a different kind of policy and coverage. For one, it needs a coverage that also accommodates the personal belongings stored inside it. The policy should also include discounts that reflect when and where you will drive the vehicle, as well as the services it needs. With that said, you need to make sure that the policy will have the right coverage suited for a specialized automobile.
Mistake 2: Choosing Insufficient RV Liability Insurance Coverage
Liability coverage protects you in case an unfortunate incident occurs, such as theft, vandalism, fire, which may damage your vehicle. Choosing insufficient liability coverage may result in huge financial losses, especially since medical expenses and loss wages can quickly exceed the limit of the coverage. For this reason, you need to choose one that reflect your financial situation. Avoid blindly following the state-required minimums.
Mistake 3: Buying The Policy With The Lowest Price
Although you are trying to save money, avoid buying the lowest price available. You need to understand that a reliable and specialized RV insurance is very important. You should compare the features and services on top of the prices.
Mistake 4: Ignoring Potential Discounts
There are a lot of things that can reduce your premium. The built-in premium savings and the discounts can help you in that area. Here are some of the discounts you may be eligible for:
- Combine coverage for insuring your RV and other automobiles on the same policy or carrier.
- Renting a storage unit which allows you to suspend the coverages you don't need when you're not using your RV.
- Installing safety and security features on your vehicle
- Having a safe and clean driving record.
To avail these discounts, you need to consult with an agent. Take advantage of these discounts to enjoy more savings.