Buying an RV
With a recreational vehicle, you can vacation all around the country without ever having to leave home. Whether it’s just for the weekend, or for months at a time, traveling by RV provides the ideal mix of adventure and comfort you crave. It doesn’t get much better.
But with adventure comes responsibility, and a good RV insurance plan goes a long way in giving you the peace of mind that comes with knowing you’re fully covered no matter where the winding road may take you. After all, your RV isn’t just another vehicle – it’s your home on wheels. Get in touch with the pros at Killingbeck Insurance & Tax Preparation for a comprehensive RV insurance plan that can provide you with the protection your investment deserves.
Can my auto insurance policy cover my RV?
While it is possible to add your RV to your auto policy, Killingbeck recommends a stand-alone RV insurance plan with truly comprehensive coverage.
You might be hesitant to invest in a stand-alone policy because you think it may be too expensive, but in most cases, this type of coverage actually costs less than the endorsement to your auto insurance plan, all the while providing better protection for your RV.
Perhaps the biggest advantage of a stand-alone RV insurance policy is that it provides ‘replacement coverage,’ while an auto policy only covers your vehicle for ‘actual cash value.’ This means that if you are involved in an accident and your RV gets totaled, insurance will only pay what your vehicle was worth at the time of the accident. Considering the rapid rate of depreciation with most vehicles, that won’t be much, especially if your RV was an older model. However, if your RV has a stand-alone policy with replacement coverage, your insurance will pay the cost to replace your vehicle altogether.
Additionally, RV insurance offers better roadside protection, personal property, and liability coverage than an auto policy can. It’s important to keep in mind that RVs are much bigger and more expensive to repair than conventional automobiles. Just a simple fix like a windshield replacement can cost up to $1,000. Your auto insurance policy is made for a car, and its limits are likely inadequate to keep up with the maintenance of a full-sized recreational vehicle.
Another great bonus of a stand-alone RV policy from Killingbeck Insurance & Tax Preparation is what’s known as the ‘disappearing deductible.’ For each year that you operate your vehicle claims and accident-free, your deductible drops by 25%. This means that after four years of spotless driving, the deductible on your RV insurance drops to zero.
What does an RV insurance policy cover?
RV insurance is a lot like auto insurance coverage, except that it’s adjusted for the larger size and higher cost of repairs typically associated with RV ownership. Coverage will include:
- Bodily Injury Liability: Required in the State of Indiana, bodily injury liability covers you in the event that you cause serious physical harm to someone else. This type of RV insurance covers the medical costs of any physical injury incurred by passengers after an accident for which you are responsible, as well as the legal costs you may incur when you cause an accident.
- Property Damage Liability: Covers the damage done to anyone else's property in the event that you cause an accident. As part of your Kokomo Indiana RV insurance policy, property damage liability also pays for your legal defense if you are sued as a result of these damages.
- Uninsured / Underinsured Motorist: Seeing as approximately one out of every three drivers on the road today is inadequately insured, uninsured and underinsured motorist coverage is an integral part of your Kokomo Indiana RV insurance policy. It is designed to compensate you for a loss you incur which is caused by a driver who is either uninsured or inadequately insured.
- Collision: Covers damage to your RV when you are in an accident with another vehicle or object. Unlike liability coverage, collision RV insurance is not required by law. However, if you do not have collision insurance in Kokomo Indiana and are involved in an accident, you will have to pay to fix the damages or replace your vehicle without any assistance from your insurance company.
- Comprehensive: Comprehensive RV insurance protects you from damage caused to your car by a non-accident situation. For example, if your RV is stolen, comprehensive insurance will pay you the value of your vehicle. It will also protect drivers in the case of encounters with other vehicles, objects, people, and surfaces on the road. Additionally, comprehensive RV insurance provides towing, storage, and salvage if the car has been badly damaged.
Does RV insurance cover me outside the U.S.?
Your Killingbeck RV insurance policy extends to all 50 states, as well as to Canada. However, if you travel south of the border, things are a little different. Regular liability coverage does not extend to Mexico. If you’re planning on driving down to Mexico, be sure to buy Mexican Liability Insurance from a reputable insurance agency in that country.
Long-Term RV Usage
If you plan on using your RV for several consecutive months at a time, you’ll want to consider the following types of coverage:
- Vacation Liability – Covers you in the event that you are held liable for bodily injury to another person. Coverage limits are typically available from $10,000 to $500,000.
- Contents Coverage – Protects personal property you take with you in your RV. If you have homeowner’s insurance, your policy will extend to cover your personal belongings, but after one month this coverage typically drops to $10,000. If you plan on taking high-value items that exceed this limit, you may want to consider Contents Coverage for your recreational vehicle.
Give Killingbeck Insurance & Tax Preparation a call today at (765) 452-8000. We have a wide variety of RV insurance options, and can customize a plan that protects your home away from home at the best value for your dollar.