WHICH COMPANY OFFERS THE BEST RV INSURANCE?
It isn’t possible to say which company is the best, as a great deal is dependent on your particular situation. Here are some of the variables that must be taken into account:
• Driving history of insured parties
• RV type and model
• The state in which the rv policy is issued (since insurance laws vary by state)
• Other vehicles in the household
• Amount of coverage desired, etc.
I bought insurance through Good Sam when I first bought my RV in 2007, and was happy with their service over the years. The policy covered both the RV and my dinghy.
There are several other companies that offer specialized RV insurance. They have gone to some trouble to understand RVers' insurance needs. They are:
HOW IS RV INSURANCE DIFFERENT FROM AUTO INSURANCE?
An RV is a vehicle, and as such, most insurance companies will be happy to issue a policy. However, insuring an RV with a typical auto policy will leave significant coverage gaps. Therefore, RV's should be insured with a specialized rv insurance policy which covers the things an auto insurance policy would miss, such as:
• Total loss replacement — applicable to buyers of new RV's in the first five model years, it replaces the RV with a similar unit, even if the replacement costs more than the original. Since RVs have high depreciation, this coverage is good protection in case of a total loss.
• Coverage on personal belongings — Auto policies usually cover a limited amount of content in a vehicle. RV insurance policies give you the option to specify a limit to include all of your personal belongings which could be destroyed by some events.
• Full-timer liability — Offers liability coverage similar to homeowner's insurance when the RV is parked and is used as a residence. This coverage includes emergency treatment and medical expenses for others who might be injured in or around your RV. Most rv insurance companies consider you a full-time user if you use your RV five or more months (not necessarily consecutive) during the year, even if you own a home or rent an apartment part of the year.
• Campsite liability — designed for short-term vacationers, and similar to full-timer liability.
• Emergency expenses — Reimburses expenses related to living outside the RV while it is being repaired, as long as the covered loss occurs a set number of miles from your fixed residence (usually 50 miles). Common expenses covered are lodging, meals, and travel back home.
• Higher limits on liability — Because most RV's are much larger
than cars, they could cause a significant amount of damage in a mishap.
RV insurance policies allow for significantly higher liability limits
than auto insurance which gives you greater financial protection.
• Medium duty tow trucks — Covers trucks over one ton when used to tow a trailer or fifth wheel.
• Suspend collision coverage when in storage — When the RV is in storage, you can suspend portions of the policy which apply only when the RV is moving on the road, such as collision coverage. This is a cost-saving option because you are not paying for unnecessary coverage.
The above coverages may be called by slightly different names. It’s always best to sit down with an agent and be sure that you understand the terms used in a policy quotation, and what they cover.
There are special conditions you should be aware of before buying a medium duty truck (MDT). The following may cause you difficulties in getting MDT insurance:
• Trucks over one ton - Some insurance companies will not issue a policy for trucks over a one ton, or weighing 10,000 lbs. or more.
• Commercial vehicle - If an insurance company does cover medium duty trucks, they may only insure them as a commercial vehicle. This is generally not a good option for RVers because commercial insurance is more expensive and has strict mileage limits from the address of registration.
• Covered only as an RV tow vehicle — This is the most common policy offered by RV specialty insurance: the medium duty truck is fully covered as a private vehicle, but must be used mainly to tow the RV. With these policies, the truck cannot be used for commuting, sightseeing, etc. This type of coverage is ideal if the RVer has another vehicle for daily use, but may be too restrictive if the truck is the only vehicle. Insurance agents may not mention this restriction, so be sure to ask how your MDT is being covered.
If you’ll check the statistics at the Insurance Information Institute, you’ll find that SD is one of the least expensive states for auto insurance. My annual premiums went down quite a bit!
Other good things about SD:
3% sales tax on the purchase of vehicles, after deducting your trade-in
at the dealer (if you can show you paid sales tax in another state that
• No personal property/excise tax on vehicles
• No safety inspection; no smog inspection
• You can register to vote by using an RV park or motel as your physical address.
• No state income tax
• No state inheritance tax
I have continued to insure my RV with GMAC through Good Sam, but definitely should check out rates with other insurance companies to see if this is the best choice. It is important, however, to choose a company that specializes in motorhomes.
Good Sam offers other
insurance that is worth looking into. I originally got an Extended
Service policy when I first bought my RV which was five years old at the
time, but as my rig got older, felt it was too costly, so I decided not
to renew it. However, you may have invested in a more expensive and newer rig, in
which case it’s definitely worth checking it out. Good Sam Extended
Service Plan is a mechanical breakdown plan for your RV, 5th Wheel,
Trailer, and Tow Vehicle!
is also emergency road service for both RV and your car. I can handle changing a tire on my car,
but sure wouldn't want to have to change an RV tire!
Curious Calves on the Way to Chimney Rock
Frugal Shunpikers Guides to RV Boondocking - If you love boondocking, you'll find these books invaluable. There are two new ones that cover California. Definitely check them out!