Don’t base insurance decisions solely on whether insurance is mandated or not. Your “need” for camper insurance should be based on what you’ve invested and what you could potentially lose.
Saving a few bucks now could lead to substantial financial loss and potentially affect your future, too.
The word “camper” is used to describe many types of vehicles, so it’s important to understand when you’re required to insure and when it is worthwhile to buy insurance, even when it is not required by law.
Whether you own a small Class B campervan with a raised roof or a luxurious Class A motorhome, you must carry liability insurance. However, drivers shouldn’t rely on state minimums. They are simply too low to provide adequate financial protection.
Rhode Island only requires $25,000 bodily injury per person per accident, $50,000 bodily injury for all persons per accident, and $25,000 property damage liability. A single accident could easily devour these limits leaving you to pay for any additional expenses which could include your future earnings.
You should also consider additional coverage to protect you, your belongings, and vehicle.
Vehicles Without Motors
Generally, campers towed behind your vehicle and campers that mount on the bed of a truck do not legally require insurance. However, that certainly doesn’t mean you should dismiss insurance just to save a few bucks now.
Saving money initially could cost you a bundle later. If you experience a loss, you will pay for repairs or replacement out-of-pocket. Even if you own a small truck camper mounted on the back of your pickup you should still consider a good RV insurance policy to protect your investment. Otherwise, you’ll pay out of pocket for any losses.
A towed camper may cost upwards of $25,000, while a fifth-wheel may cost $50,000, or more. Camper prices aren’t getting any cheaper either and neither is the cost of repairs.
Don’t depend on your homeowners insurance for camper protection, either. The only way it offers protection is if something happens while it is parked on your property.
Is it really worth the risk when RV insurance is very affordable?
What Does RV Insurance Cover?
RV insurance offers similar coverages to auto insurance such as collision, comprehensive and liability coverage, plus additional protection for onboard equipment, attached accessories, and your personal belongings.
Insurers also offer optional coverages such as replacement cost, towing and roadside assistance (which is very important, as many services like AAA don’t can’t help with trailers or RVs), after-market custom equipment, full-time or vacation protection if you use your camper as your residence, and more.
The cost of RV insurance depends on the class of vehicle, whether you’re using it full-time or occasionally, your claims history and driving record, and the coverage you choose.
Some coverage may not apply to you, but others could provide the financial protection you need to avoid disaster. Your insurance agent can recommend the best coverage and deductible for your specific situation.
The right RV insurance can protect you financially and help get you out of a jam if you’re ever stranded on the side of the road. Contact us today and allow our team to review your coverage options with you.