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Motorhome insurance is one of those things that many drivers hate paying every month. But many are glad they do when they need it.
Accidents happen, whether it’s your fault or not. And a quality insurance policy can help minimize the damage to your wallet.
If you plan on buying a motorhome soon, you’ll want to start collecting quotes from insurance providers.
Today, we’ll look at motorhome insurance and answer the question, “Is motorhome insurance expensive?” The answer might surprise you. Let’s get started.
Is Motorhome Insurance Different Than Car Insurance?
While motorhome and car insurance are relatively similar, they’re not the same.
An insurance policy specifically for motorhome insurance will likely include collision, comprehensive, and liability coverage.
However, motorhome insurance policies often have total loss replacement coverage, emergency expenses, and special coverages for full-time travelers.
Some insurance companies will cover motorhomes and other RVs under insurance policies similar to standard car insurance.
However, while this may keep you legal, the coverage may be insufficient should you need to file a claim.
Know what a policy does and doesn’t cover.
You don’t want any surprises when you go to make a claim.
What Kind of Insurance Do You Need for an RV?
The type of insurance you’ll need depends on how you use your RV and if you have a loan out.
If you own your RV outright, you may consider an inexpensive liability-only policy.
However, state requirements for minimum coverage vary. You’ll want to ensure your policy maintains the legal minimum for your state.
Those owners still making payments or who use their RV as their full-time residence will require a more substantial policy.
Most lenders require owners to carry full coverage that includes comprehensive and collision.
Those traveling full-time typically insure their personal belongings.
Some motorhome insurance policies have special offers to cover emergency expenses.
This may include hotels when their rig is in the repair shop.
Are Motorhomes Expensive to Insure?
The cost of motorhome insurance depends on several factors. Insurance companies consider the cost of the motorhome, driver’s age, driving history, credit score, and location when calculating rates.
For a ballpark number, we found the average price to insure a motorhome is $1248 annually, and liability-only policies start at around $325.
Motorhomes are typically the most expensive type of RV insurance.
This is because their overall value is much more than a towable RV.
This makes them more costly to replace and repair after an accident.
Different Types of Insurance Coverage
A few different types of insurance coverage can help protect you and your RV during your adventures.
Understand the importance of each type of coverage. And ensure you have an adequate policy to meet your needs.
Bodily Injury and Property Damage Liability
Most states typically require this coverage as it protects drivers financially from injuries and damages you cause while driving.
Bodily injury liability coverage will pay for the other drivers hurt in an accident where you are at fault.
This includes medical bills, loss of income, and emergency aid.
This motorhome insurance will also cover property damage expenses you caused during the accident.
Comprehensive Coverage
Comprehensive coverage provides you protection from a variety of circumstances.
This could include theft, vandalism, floods, fire, hail, falling objects, and riots.
Because wild animals aren’t required to carry insurance, damages from these accidents fall under a policy’s comprehensive coverage.
These accidents require you to pay a deductible toward the total repair bill.
Then the insurance company will cover the rest.
Budget-friendly options consistently have a higher deductible but result in less expensive monthly premiums.
Collision Coverage
Collision insurance covers repair costs due to a collision with another vehicle or object.
This motorhome insurance typically comes into play if you back into a fence, tree, or other things.
Vehicles involved in single-car accidents typically require a claim under their collision coverage.
This is optional but required if you finance the motorhome.
You’ll need to pay your deductible, and this won’t cover damage to another person’s vehicle or any medical bills.
Medical Payment Coverage
You may like your vehicle or other material things, but you can replace them.
What’s not replaceable are the lives of you and your fellow passengers.
You can get stuck with hundreds of thousands of dollars in medical bills if you are in a serious accident.
Coverages under this category often will also pay for funeral expenses.
Luckily, medical payment coverage can assist with these expenses, no matter who is at fault.
Keep in Mind: If you’re going to be on the road, you need RV insurance but you also need health insurance! Here’s How We Found the Best Health Insurance As Full-Time RVers
How Much Insurance Should I Have on My RV?
The amount of motorhome insurance you’ll need will depend on your situation.
You have to factor in the costs of replacing or fixing the RV and any of the contents.
Most states have minimum insurance requirements.
Drivers must have a certain amount of coverage for injuries or property damage due to an accident.
Check with your insurance company or local provider for specifics regarding your situation.
Ensure that your insurance coverage would enable you to replace the RV during a catastrophic loss.
Many policies only pay out the current value of a vehicle, putting RV owners in a financial bind.
RVs depreciate quickly, and you could owe much more on your RV than it’s worth.
If you don’t have an adequate policy, you could need to write a check for the difference.
Where to Get Motorhome Insurance
You have several options if looking for motorhome insurance. Check out several national insurance providers like Geico, Progressive, and Nationwide.
We recommend getting quotes from several insurance providers to determine who can offer you the best coverage and customer experience.
If you already have an insurance company you work with, you might check with them first.
Ask if they offer motorhome coverage.
If you feel more comfortable discussing your options in person, many local insurance agents walk through your options face-to-face.
Is My Gear and Belongings Inside the Motorhome Covered?
Many motorhome owners get insurance for their rig and assume it covers everything from bumper to bumper, including the contents.
However, standard motorhome insurance policies only cover the motorhome itself and not any of the contents.
If you’re involved in an accident you may not receive compensation for any items inside.
It’s essential for those who use their motorhome as their full-time residence.
Full-time RVers likely travel with many important possessions.
A fire or serious accident could damage or destroy all of these in minutes.
If you plan to use your motorhome in this manner, have a full-time RV policy covering your gear and belongings.
Pro Tip: Which RV insurance is right for you? Let’s see if you should go with Good Sam RV Insurance!
Stay Protected With Motorhome Insurance
You hope you never need to use your motorhome insurance, but it can save the day when you need it. Confirm what the policy does and doesn’t cover when signing up.
You don’t want any surprises if you need to file a claim. Experiencing an emergency is stressful enough; you don’t want to add additional stress by not having a quality motorhome insurance policy.
