RV insurance— it’s the thing you never hope you need to use, but always want to have. You’ve likely invested a lot of time and money in your RV, and it’s important to protect your investment with RV insurance.
One common question that RVers often have is if travel trailer insurance is necessary and what, exactly, this type of insurance policy covers.
Travel trailers are non-motorized RVs. This means that, in most states, insurance coverage is not legally required. However, if you are currently paying for your trailer through a financing agreement such as a bank loan, then the lender who holds a lien on your RV may require you to purchase certain coverages until you have paid off the loan.
Still, travel trailer insurance coverage is always a good idea, even if it isn’t required by law or a lender. In the event of an accident, you want to make sure that you aren’t financially liable for paying for damages caused by your rig, nor footing the bill to repair or replace your RV.
If you want or need insurance for your trailer, there are plenty of policy options to choose from, allowing you to craft a policy worth paying for based on the risks you are willing to take.
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What, exactly, your travel trailer insurance covers depends on what type of policy you have.
The most basic and least expensive insurance option for your travel trailer is liability coverage. A liability policy protects you in the event that you are at fault in any sort of accident. A claim will pay the victim for any damages caused to their property (be it their car, their home, their RV, or other possessions such as boats) or any medical expenses accrued due to injuries you caused them.
This is the least expensive insurance option, and you might not even need to pay any extra for it. Many auto insurance policies include liability protection on any towed items, including a travel trailer. Before purchasing liability insurance, check your auto policy to see if it is already covered. If that is the case with your insurance, then all you have to worry about are your lender’s insurance requirements.
Comprehensive coverage insures your travel trailer against damages caused outside of collisions, such as hail, lightning, fallen trees, and flooding, or even theft and vandalism.
This one goes hand in hand with comprehensive coverage, covering you from damages your RV takes in a collision with another vehicle or a stationary object, regardless of whether or not you are at fault for the collision.
Comprehensive and collision coverage are often only sold as a package deal. If your RV is still under financing, the lender who holds the lien may require you to carry both of these insurance policies until you have paid it off.
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In the event of an accident, you can buy coverage for medical payments for you and your passengers. Since passengers won’t be in the travel trailer while it is moving, this applies when the trailer is parked on a campsite or a rented property.
If you are involved in a collision where the other driver is at fault but is uninsured or underinsured, this policy will make sure that damages and medical bills are still paid for.
Say you lose two tires to poorly maintained roads or an axle blows while you’re driving. Roadside assistance from your travel trailer’s insurance will pay to have your trailer repaired or towed to the shop. Some policies only provide roadside assistance for the trailer itself, while others will also cover the vehicle you use to tow the trailer with support such as jumping dead batteries or bringing you fuel if you run out. If your car doesn’t already have roadside assistance, then you might want to look for this feature in a policy on your trailer.
This type of coverage pays to repair or replace goods that are damaged or destroyed in a collision, stolen, or vandalized. If you need to bring your 75-inch TV or any other valuable items with you on the road, you should consider getting them protected. How much this coverage will cost you is going to depend on the value of the items you have in your RV that you want covered under your policy in case of
If your travel trailer is your primary residence, meaning you live in it at least six months out of the year, then you might want to consider purchasing a full-time RV insurance policy. This will typically include all the optional coverages listed above, as well as a few more that act more like homeowners insurance.
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This works similarly to liability coverage, but also extends that protection to any guests you have in your home. This keeps you from footing the bill if your friend ends up getting injured in your home or damaging a neighbor’s property.
This protects your possessions from damage, and in most states even protects from your pets.
Like the medical coverage listed earlier, this coverage will pay medical bills if a passenger of the trailer is injured. But with this coverage option, this extends to anyone injured in the immediate vicinity of your RV while it’s parked.
When living in a private residence with shared spaces, such as an RV park or campground, loss assessment covers you for any damages you or your guests cause to these shared areas. This can apply to things like the electrical hookup, water line, fences, etc. in an RV park.
This coverage will pay to house you temporarily if your trailer is too damaged for you to live in. This will cover accommodations until the RV is repaired or replaced.
If you have your trailer parked long term in an RV park, you might want to add decking, sheds, carports, etc. Full time RV insurance covers those structures.
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Additionally, Roamly doesn’t stop covering your RV if you decide you want to rent it out on peer-to-peer networks like Outdoorsy. That means you can make extra money when you’re not using your RV.