Rv Insurance: What You Need To Know

Most insurance companies define recreational vehicles as all-terrain vehicles (ATVs), motorcycles, motor homes, golf carts, snowmobiles, and jet skis, among others. These vehicles require their own form of coverage, which can be specific to the vehicles themselves, though some insurance providers offer off-road vehicle packages to cover all of them under one policy. Recreational vehicle insurance policies work similarly to auto insurance, with some differences. For example, RV rental insurance offers temporary coverage while driving an RV, camper van, or travel trailer.

All-terrain vehicles (ATVs)

ATVs are highly susceptible to theft and are often not covered by homeowners insurance if they are ridden on any terrain other than the owner's property or hauled by trailer to another location. While ATV insurance is not required by law in most states, it is often required to ride in state or public park areas, and some states require insurance to ride on any land that isn't your own. Additionally, if you are financing your ATV, you may be required to have specified coverage.

ATV insurance costs about $88 per year for liability-only coverage and $327 per year for full coverage. Liability-only coverage includes bodily injury liability and property damage liability, both of which are required. Bodily injury liability covers the costs if someone other than the ATV operator or passenger is injured or killed in an accident, while property damage liability covers any damage caused to another person's property.

Full coverage includes comprehensive and collision coverage, which pays to repair or replace your ATV if it is damaged or stolen. Collision coverage pays for damage to your ATV caused by a collision with another vehicle or if it overturns, while comprehensive coverage pays for damage not caused by a collision, including theft, vandalism, flooding, and fire.

Other types of coverage available for ATVs include medical payments coverage, uninsured/underinsured motorist coverage, and personal injury protection. Medical payments coverage pays for any medical expenses incurred by those riding the ATV, while uninsured/underinsured motorist coverage protects you if you are injured by a driver with no insurance or insufficient insurance. Personal injury protection covers certain expenses related to injuries from an accident, such as lost wages and childcare expenses.

Motor homes

When it comes to insuring your motor home, it's important to note that it may not be properly covered by a standard auto policy. You will need to look into specialised RV insurance, which is designed to protect your unique vehicle and the lifestyle it enables. RV insurance provides coverage in case of accidents, theft, or damage, and it often includes liability coverage, which is crucial for peace of mind while on the road.

RV insurance policies can vary, but they generally include coverages such as total loss replacement, replacement cost for personal effects, emergency expense coverage, and medical payments coverage. Some policies may also offer additional benefits, such as coverage for transportation, lodging, food, and fuel costs if your RV is disabled due to a covered loss.

When shopping for RV insurance, it's important to consider factors such as the value of your motor home, how often you use it, and your driving history. These factors can impact the cost of insurance, with older and smaller RVs generally being less expensive to insure than newer, larger models. Additionally, a clean driving record can help lower your insurance premiums.

By insuring your motor home with a specialised RV insurance policy, you can rest assured that you have the protection you need to fully enjoy the RV lifestyle.

Travel trailers

When it comes to insurance for travel trailers, there are a few options available. One option is to add the travel trailer to your existing auto or home insurance policy. This will provide liability coverage for the trailer while it is being towed, but it may not cover other aspects such as comprehensive or collision coverage. Another option is to purchase a specialized travel trailer insurance package that acts as a separate policy. This type of insurance can provide increased contents coverage, liability coverage, and physical damage coverage specifically for the travel trailer.

Some insurance companies offer additional coverages for travel trailers, such as emergency roadside assistance, premise liability, and emergency vacation expenses. These coverages can provide assistance in the event of a breakdown, protection against injury or property damage while the trailer is parked, and coverage for emergency expenses if the trailer needs repairs during a vacation.

When determining the cost of travel trailer insurance, several factors come into play, including the make and model of the trailer, its dimensions, accessories, and features, as well as the driving history and insurance claims history of the owner. The frequency of use, storage requirements, desired coverage amount, policy limits, and deductible will also impact the overall cost. On average, travel trailer insurance can range from $300 to $1,000 annually.

It is important to note that insurance requirements and coverages may vary depending on the location and specific circumstances. It is always recommended to consult with an insurance professional to determine the most suitable insurance options for your travel trailer.

Off-road vehicles

In British Columbia, off-road vehicle owners are required to have basic insurance with ICBC, which provides a minimum of $200,000 in third-party liability coverage. This allows off-roaders to drive their vehicles legally. However, this basic coverage may not be sufficient in the event of a collision or incident, as it may not cover the total expenses of repairs, medical bills, and lost wages. As such, it is recommended to obtain additional coverage, either through ICBC or a private insurance company.

Private insurance companies offer various add-ons and comprehensive benefits to supplement the minimum insurance coverage. For example, you can enhance your coverage for third-party liability, get collision insurance to cover repair costs regardless of fault, and secure comprehensive coverage for damages unrelated to a collision. You can also protect your investments with features like replacement cost coverage if your vehicle is totaled or stolen.

When considering off-road vehicle insurance, it is important to note that standard home insurance policies do not typically cover off-road vehicles, even if they are parked in your garage. Off-road vehicles require separate coverage to compensate for damage or theft. Additionally, if you plan to take your off-road vehicle on public land or property, you will generally need liability coverage.

Watercraft

Personal watercraft insurance covers vehicles such as Jet Skis, Sea-Doos, and Yamaha Wave Runners. These craft can be dangerous, causing thousands of injuries every year, and are usually not covered by homeowners insurance. Personal watercraft insurance covers incidents such as:

• Bodily injury to another person
• Bodily injury to the operator of the craft caused by an uninsured watercraft operator
• Legal costs if the operator is sued due to an accident, including water sports liability for activities such as waterskiing
• Property damage to another watercraft, boat, or dock
• Towing after an accident

Boat insurance covers vessels under 197 feet long, while ships are 197 feet or longer. Yacht insurance covers boats 27 feet or larger. For insurance purposes, the National Boat Owners Association marks the dividing line between boats and yachts at 27 feet. Anything shorter than 27 feet is considered a pleasure boat.

Boat insurance typically covers:

• Theft
• Physical damage to the boat due to a collision or striking a submerged object
• Property damage caused by vandalism, a windstorm, or lightning
• Medical payments for injured passengers and the owner and their family

Yacht insurance is broader and more specialized than pleasure boat coverage as larger vessels travel farther and are exposed to greater risks. It also tends to be more expensive.

Frequently asked questions