MONDAY, JANUARY 4, 2021
Can You Insure a Full Time RV?
While many recreational vehicles are used for road trips and other casual purposes, some RV owners take it a step further and decide to make their favorite vehicle double as their home. There are many benefits to using your RV full time (dictated as the RV being lived in for more than six months out of the year), but there are also risks. For example, you will generally need different types and limits of insurance when it comes to your RV operating as both a vehicle and a home.
What is Full Time RV Insurance?
Full time RV insurance refers to coverage that is specifically geared toward RVs used as a permanent residence. Whether you live in a motorhome or travel trailer, full time RV insurance provides extra liability protection in case someone is injured or their property is damaged on your property. Since the RV is considered your home property, accidents within and around the RV may be covered. If someone falls in your RV while it is parked and is injured, for example, this insurance can help cover their medical bills as well as protect you against a potential lawsuit. It can also protect the contents of the RV in case of damage, such as with personal belongings coverage.
Other Coverages You Should Have
Even if your RV is parked most of the time, it is still important to have the right type of insurance. Keep in mind that RVs used as full time residences are still considered vehicles and must carry the minimum amount of RV insurance as required by the state.
Along with full time RV insurance, make sure your RV insurance policy includes:
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Comprehensive Coverage: Comprehensive coverage provides compensation for damages to the RV caused by fire, wind, hail, lightning, smoke, theft, vandalism and other incidents not involving collision.
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Collision Coverage: Collision coverage provides compensation for damages to the RV caused by a collision with another vehicle or object.
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Liability: Liability insurance covers bodily injury and property damage the RV driver may cause while operating the insured vehicle.
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Medica Payments Coverage: Medical payments coverage provides compensation for medical bills the driver and their passengers may face after an accident, no matter who caused the accident.
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Uninsured/Underinsured Motorist: This insurance covers injuries and damages incurred in an accident involving another driver who is not carrying insurance.
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Vacation Coverage: Vacation coverage offers additional liability coverage while the RV is parked for vacation.
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It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
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