Full-time Rv Living: Specialized Insurance For A Mobile Lifestyle

 Full-time Rv Living: Specialized Insurance For A Mobile Lifestyle - Anyone who owns a recreational vehicle needs RV insurance, but full time RVers have additional considerations. Whether you have a motorhome or a travel trailer, if your RV is your primary residence, you may need full-time RV insurance.

But what exactly is "full time RV insurance" and how does it differ from a general motorcycle or camper policy? What are you looking for as a combination of car insurance and home insurance?

Full-time Rv Living: Specialized Insurance For A Mobile Lifestyle

In this post, we look at RV insurance specifically related to full-timers. Now, before you scroll down thinking you're not a full-time RVer because you don't live in your rig 24/7/365, we suggest you stick around long enough to figure out what qualifies as "full time". ". You might be surprised!

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In our post titled "What Does RV Insurance Cover?", we talked about the fact that an RV is a home and a vehicle combined, so it requires RV-specific insurance. But full time RV insurance is a more comprehensive policy that applies to RV owners who live in their RV for a certain amount of time each year.

RV insurance companies offer this comprehensive coverage to RVers who qualify as "full time". It is very important to understand what that means so that you properly insure your RV.

In general, what you will often read is that if you spend six months or more of the year traveling in your RV, you qualify for full time RV insurance. But technically, if you spend more than 150 nights a year in your RV, you qualify as someone who needs full-time RV insurance.

If you spend 150 nights or more in your RV, you are considered "full time" by RV insurance standards.

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Many RVers believe that they are only considered full time RVers if the RV is a permanent residence. This is not the case. Even if you travel part-time in an RV, you may qualify as a full-time RVer from the RV insurance company's perspective.

The time to understand the details of your coverage is when you purchase your policy - not when you file a claim!

Just like car insurance, when you insure your motor home you want adequate coverage for things like bodily injury, liability, uninsured motorist, etc. But you also want to make sure your personal belongings are well covered.

A comprehensive and comprehensive RV insurance policy covers all expenses on and inside the RV, in addition to the types of coverage you find in auto or part-time RV/camper policies.

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Full time RV insurance protects you whether you're parked at a campground, in a Walmart parking lot, or at your home or a friend's house. It also protects you when you move on the road.

Thus, comprehensive RV insurance should provide typical coverage such as liability (if you cause damage to others or your vehicle/property), as well as damage that may occur to your RV (including replacement).

Remember, if your RV is your home, and your home's steering wheel is damaged and temporarily inoperable while it's being repaired, you'll also want coverage that includes hotel expenses and/or rental vehicle expenses.

Some aspects of your insurance may be offered as optional, but if you take out a loan to buy an RV, and still pay off the loan, your lender will require that your insurance plan include all the coverage they offer.

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Before we get to the specific type of coverage, we want to note that different types of RVs require different types of insurance, but the designation as "full time" is important regardless of the type of RV you have.

For example, we are full timers who live and travel in a motor home that can be towed by an SUV. So we need full time RV insurance on our rig and auto insurance on our SUV.

We live full time in an RV and we tow an SUV. So we need full time RV insurance on our motorcycle and auto insurance on our SUV.

Anyone who travels in a Class A, B, or C motorhome and does not have a toad only needs motorhome insurance.

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And finally, those who tow a travel trailer need RV insurance on their travel trailer and auto insurance on their truck/tow vehicle.

Let's take a look at the specific types of coverage that are typically offered with comprehensive RV insurance plans.

This only applies to motorhomes - RVs that can be driven. (Towable RVs carry towing vehicle liability coverage.) Liability coverage pays for injuries caused by an accident for which you are responsible and is generally required coverage in all states.

It also only applies to towable RVs (motorhomes) as property damage coverage from towable vehicle insurance policies to towable RVs (travel trailers, 5-wheelers, toy haulers). Property damage liability coverage pays for damage caused to property (including other vehicles) and is also generally required coverage in all states.

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This coverage applies if you are involved in an accident that is the fault of another uninsured or underinsured driver. This will help to pay for damages to the RV as well as injuries to the occupants.

This covers medical expenses for anyone in your RV who is injured in an accident, regardless of fault.

Collision coverage pays to repair or replace your RV if it is damaged in an accident, regardless of who is at fault.

It is important to note here that this is different from car insurance policies that also pay to replace personal items inside the RV that are damaged or destroyed due to a collision.

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Comprehensive insurance covers damage to your RV due to events outside of your control, (usually after the deductible is met). These incidents may include damage to property such as vandalism, theft, fire, falling objects, ice storms, other natural disasters (floods, earthquakes, hurricanes), or hitting animals.

This coverage pays for the replacement of personal items in your RV. Most have a coverage limit of up to $5,000 per claim, but some insurance companies will allow additional endorsements of up to $100,000 to replace personal effects.

This coverage is usually not automatic as part of full time RV insurance, but may be offered for an additional fee. Total loss replacement coverage pays to replace the RV if it is totaled. But the devil is in the details as always, so please note that it is generally said that the total RV in the first four years, this coverage should buy a comparable new RV.

However, if your rig will be totaled in 5-7 years, you will be more reimbursed for the actual cash value of the RV or the original purchase price (whichever is higher). After 7 years of the rig on the road, you will likely be reimbursed for the actual cash value, including depreciation.

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The details may vary from policy to policy and from company to company, so it is important to be clearly informed before accepting an insurance policy. With RV prices increasing every year, your coverage amount may not be enough for you to purchase a replacement RV!

Roadside assistance coverage kicks in if your rig breaks down in any way. If you need a jump, run out of gas, get a flat tire, or need a tow, roadside assistance coverage should offer 24-hour assistance.

With that said, we prefer a separate roadside assistance plan and wouldn't be without it. Do we need it? Not often, but when we need it, we find it worth it.

After all, it's not just a towing service that can haul a diesel engine 43 feet from the quicksand! (Okay, we're being creepy - it's not quicksand. But it could have been.) See the post on RV's best roadside assistance plan for details.

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Gap insurance may be offered as additional coverage by some RV insurance companies. The purpose of gap insurance is to cover the gap between what the rig is worth and what is still owed on it, should be total.

So, if your rig is totaled (or stolen), your gap insurance must pay the difference between the amount of money you receive from collision and comprehensive coverage and the amount you still owe on your RV loan.

In the end, it's not what you think. However, there may be more types of coverage for you to choose from if you have a full-time job.

But in reality, all of the types of coverage mentioned above may be offered to part time RVers. The only real difference is that full-time RV insurance does not include vacation liability coverage, because if you live in the rig full time, you are not technically vacationing anywhere!

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The cost of full time RV insurance (or any insurance) varies too much to speculate on the cost, but it depends on the coverage you choose, the type & age of the RV, your driving history, and where you insure the rig, in full. a timer policy can run anywhere from a few hundred dollars to several thousand dollars a year.

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