Recreational Vehicle Insurance
Treating yourself and your loved ones to the purchase of a recreational vehicle is a great gift. But while you may have fun on your mind, you also need to prepare for accidents and other mishaps. Theft, weather-related damages, and accidents can happen. Recreational vehicle insurance protects your RV against financial loss. The laws of your state may also require you to purchase insurance.
Liability is something you should purchase if you don’t want anything else. You are responsible for any expenses or damages that you cause to other people. This includes medical bills and repair bills if you damage their property. Liability coverage pays for these expenses up to the limits of your policy.
You may also want insurance that pays for repair work or a replacement to your own RV. This coverage may pay off your vehicle loan up to the limits of your coverage in a total loss situation. It may also pay for other damages. It’s possible that you or your passengers may get injured when using the recreational vehicle. So you might want coverage that pays for related medical expenses. Personal belongings within the RV can also be insured.
You are responsible for paying a deductible when you file a claim. The insurance will only do its part after you’ve paid the deductible. A good idea is to keep an amount equivalent to your deductible stashed away at all times.