Owning an RV is like owning a key to all the most beautiful and remote places in the country. With a fully functioning home on wheels, where can’t you go? But just like a home without wheels, your RV needs to be protected against all the risks it may face. Whether on the road or at a campsite – there are plenty of things that can go wrong while you’re out exploring the countryside.
But how much does RV insurance cost? The short answer is it varies depending on many factors, such as the kind of RV you’re insuring. For example, it will typically cost less to insure a simple travel trailer than a full-on motorhome. Let’s get into the specifics.
Factors that affect RV insurance rates
From the kind of RV you’re insuring to the kind of trips you take it on, there are a plethora of factors that affect your RV insurance rate. Here are some of the most important:
The type and market value of the RV you’re insuring
RVs’ market value range from $10,000 for a pop-up camper to several hundred thousand dollars for motorhomes. Just like with regular car insurance, newer model years typically have higher market values than older ones. As with higher value cars, higher value RV’s are more expensive to insure, and vice versa.
The cost to insure a motorhome will also be higher than trailers due to motorhomes’ required liability coverage.
Longer motorhomes and trailers, regardless of their value, are more difficult to drive and are more prone to accidents. The insurance cost will be higher for a longer RV to reflect the higher risk.
The addition of RV coverage options
In some cases, you may need to purchase additional coverage, which will increase the rate you pay. Coverage like safety glass replacement, awning replacement, the replacement costs of personal effects, vacation liability, and roadside assistance is designed to help you create a plan for your unique needs, but RV insurance rates are affected by such additional coverage.
Your RV insurance coverage plan
The type of RV coverage you’re paying for is always going to affect the amount you’re paying for it. And by extension, the activities you use your RV for play just as large a role. For example, RVs are increasingly being used as primary residences for much or all of the year. In these cases, the cost will be higher due to the greater risk associated with increased usage. Additional coverages are also available to these “Full Timers” to reflect their special needs.
Your driving record
Your driving record affects your RV insurance rate too. While safe drivers with little or no history of accidents and legal issues carry less risk, drivers with more claims and legal run-ins on their records tend to carry more. RV insurance rates are affected accordingly.
Save on RV insurance with discounts
Sound like a lot of ways to affect your rate? Don’t worry! Nationwide offers plenty of ways to save on RV insurance. Discounts like multi-policy and multi-vehicle reward you for bundling coverage, while proving your safety behind the wheel with an RV safety course, a safe driving record, and claim-free renewal discounts can also reduce your perceived risk and, consequentially, your rate.
Start protecting your RV
Nationwide offers flexible, reliable coverage built to fit your specific needs. Learn more about our RV coverage options and get an RV insurance quote.