Why It’s Best to Insure Your RV All Year

Given such limited use, many owners understandably eye the price they pay every month to insure their RV. They consider limiting coverage to the season in which they’re actually using their RV. Here’s how owners attempt to make their insurance seasonal: If they usually drive their RV in the summer but put it in storage for the winter, or the other way around, they consider dropping coverage for the months it’s not in use.

But that strategy can be problematic. For instance, it probably isn’t an option if you financed your RV with a loan, since your lender likely requires you to maintain coverage year-round. And even if you own your vehicle outright, covering it for only part of the year can leave you vulnerable, during your insurance offseason, to loss or liability you won’t be able to claim on your policy. You also may not save as much as you expect.

Here’s more on why year-round RV insurance makes sense, including details on what this insurance comprises and how it differs from standard auto insurance.

How RV insurance differs from auto and home insurance

Since an RV serves as home for at least part of the year, insuring one is a little like covering a vehicle and a second home in a single policy. Here’s how RV coverage compares with auto insurance and homeowners insurance: 

• Automotive insurance: RV insurance includes similar coverages as auto policies. As when insuring a car, you’ll need to buy at least the mandated state coverage for liability, medical costs and more. And you may want to add collision and comprehensive coverage, and perhaps other options such as roadside assistance. 
• Homeowners insurance: Like a homeowners policy, RV insurance protects interior components, including appliances and furnishings. Unlike a home policy, RV insurance does not cover personal property. But these items – say, computers or clothing left inside the vehicle – may be covered under your homeowners or renters policy. Check its fine print to confirm its limits and exclusions when it comes to covering your RV.

Depending on your situation, you may need a combination of homeowners insurance or renters insurance, RV insurance and auto insurance to avoid coverage gaps. For example, if you own a home and tow a camper with your SUV, you should have all three types of coverage to provide adequate protection for your vehicles, property and belongings.

Why year-round RV insurance makes sense

Many RV owners think about canceling their policies during the offseason. But what looks like a money-saving move can actually be a big financial gamble.

What can go wrong in the offseason

Even if your RV is parked at home or a storage facility, there are still risks of property damage or losses. For example: 

• Theft and vandalism: RVs and their parts, such as catalytic converters and electrical systems, are frequent targets for thieves and vandals. 
• Weather damage: If your RV is parked outside, it's at risk of damage from weather-related perils such as hail or wind-fallen branches. 
• Liability claims: If someone is injured while on or near your parked RV, you could be legally liable for their injuries. 

Without an active RV insurance policy, you could be responsible for those damages, injuries or losses entirely on your own.

Financial benefits of continuous coverage

Insurance providers often give better rates, on a per-month calculation, to policyholders who maintain continuous coverage. Canceling and reinstating your policy – causing coverage gaps or lapses in coverage – can potentially raise your insurance premiums. And, if you bundle RV insurance with other forms of insurance, such as auto or homeowners insurance policies, you may qualify for multipolicy discounts that lower your insurance costs.

Factors that affect your policy

When deciding what RV insurance you need, consider the following factors: 

• Intended use: Do you plan to be a part-time RV user, or will you live in your RV full time? Your usage affects the type of coverage you need. 
• RV type: A small travel trailer has different risks and replacement costs than a luxury motor home, so ensuring the right level of coverage is critical. 
• Storage: If you use your RV for only part of the year, where you store your RV plays a role in your coverage needs. Covered storage in a locked storage facility will typically have a lower risk of theft or damage, so you may qualify for discounts. 
• Typical driving distance: If you intend to drive steadily in your RV, rather than mostly parking it, you may be at a higher risk of accidents. As a result, as with car insurance, you may pay more for coverage. 
• Contents: What you store in your RV may affect what coverage you need. If your home insurance doesn’t cover items kept in the vehicle, you may end up needing to add a personal belongings endorsement to your RV policy. Review your policy or ask your insurance provider to confirm the policy limits and exclusions when it comes to covering your RV and personal property.