Best Full Time RV Insurance

Affordability, a simpler lifestyle, experiencing nature first-hand, traveling without paying for lodging, freedom to live and work anywhere—these are some of the benefits of the RV lifestyle.

And while retirees and vacationing families used to dominate the scene back in the 20th century, recent statistics have revealed that an increasing number of younger couples are choosing RVs as their primary residence.

Most of today’s RV buyers are between the ages of 35 and 54, married, and with an annual household income of approximately $68,000. Some of them do odd jobs while traveling on the road, while many work remotely as independent contractors.

According to the RV Industry Association, a staggering one million Americans live in their RVs full-time. Some do it because they can’t afford other options, but many say that the change in lifestyle was merely a choice.

Living in your RV full-time can be a delightful and liberating adventure. You’ll probably get to experience many national parks, roads, and picturesque views that most people will never get to see in their lifetime, but this lifestyle also comes with its challenges, the main one being budgeting.

It’s true that living in an RV can be cheaper than living in a regular home, since you’ll cut down on regular household maintenance bills and taxes, but some careful planning is needed for success—especially when it comes to unforeseen expenses.

Best Full Time RV Insurance

When your RV is your primary residence, having a good insurance policy is not a choice, but a necessity.

Sure, your auto policy will have you covered in case of an accident, but what happens when someone breaks into your RV and steals your laptop or equipment while you’re running some much-needed errands?

Or what if someone slips and gets injured while the RV is parked?

If you attempt to insure your RV along with your car, odds are you'll only get coverage for physical damage, without any of the comprehensive features necessary to an RV that serves as a primary residence. Ideally, RVs that are primary residences should have policies that combine the features of both home and auto insurance, even if the RV is stationary.

But what exactly does that entail? Here’s a list of the things typically covered by most RV insurance policies.

Uninsured/Underinsured Motorist Coverage

This one works just like it does on a regular auto insurance policy. It will protect you in case of an accident with an at-fault driver who doesn’t have liability insurance or someone whose liability limit is too low to cover all the damages or medical expenses.

Collision Coverage

This type of coverage will protect you no matter who’s at fault and will cover the costs of the damages caused to your RV if you’re in an accident with another vehicle.

Medical Payments Coverage

This option will cover any medical expenses for you and your passengers in case any of you gets injured in an accident, regardless of who’s at fault.

Bodily Injury and Property Damage Liability Coverage

This type of coverage is designed to cover your legal liability in case you’re at fault in an accident that harms another person or causes damages to his or her property.

Roadside Assistance

Although most auto insurance policies offer this one, towing or providing fuel for an RV is much more expensive than towing or filling up a car or an SUV. Having the right roadside assistance coverage is extremely important, especially if you’re far from home. Roadside assistance can help you cover the costs of mechanical or electrical breakdowns, battery failure, flat tires, or lock-outs, among many other things.

Full-Timer Coverage

For the most part, people who only use their RVs seasonally need campsite/vacation liability coverage, which will protect them against liabilities while their RVs are parked. When the RV is a full-time residence, however, it needs more comprehensive coverage.

The full-timer coverage is very similar to a homeowners policy and will protect you against liabilities and losses when you’re parked for extended periods of time. It will also cover the costs of medical expenses or emergencies for those injured in or around the RV.

Comprehensive Coverage

Also called “other than collision” coverage, this protects your RV in case of theft, vandalism, damages caused by falling objects, low branches or overhangs, lightning, storms, floods, fires, and other natural disasters.

Total Loss Replacement Coverage

This is a big one. In case something catastrophic happens and your RV ends up destroyed, this type of coverage will save you thousands of dollars by covering the cost of a replacement RV. Under certain circumstances, some companies even offer 100% replacement coverage, which is great, especially when your RV is also your main residence.

Personal Property and Belongings Coverage

This will cover your personal effects and other valuable equipment like laptops, TVs, and cell phones, whether you’re parked or on the road.

Attached Accessories Coverage

This will cover awnings, satellite dishes or TV antennas, among other attachments.

Additionally, some companies offer pet injury coverage, which will cover your pets in case something happens to them on the road or while you’re parked. Other insurers also offer emergency expenses coverage, which pays for lodging or travel if your RV is damaged or destroyed by a covered loss more than 50 miles away from your home.

How Much Does Full-Time RV Insurance Cost?

There is not a “one-size-fits-all” option when it comes to full-time RV insurance premiums, but there are several factors that can affect how much you’ll pay.

RV Class

There’s a huge difference between owning a Class A and a travel trailer, both in size and amenities, and this will influence your insurance premium. Bigger models with more features are more expensive to repair or replace than smaller, simpler RVs.

New vs. Pre-Owned

Most insurance companies take into account the condition and age of your RV. If you have an older model with many miles, you’ll probably end up paying more for your coverage.

Driving History

Just like an auto insurance policy, if you have several speeding tickets or accidents under your belt, you’ll be considered a greater risk for the insurer. This, in turn, will increase the cost of your full-time RV insurance policy.

Claims

Filing multiple claims will make your payments go up. Therefore, you should only file a claim when you really need to and pay for small or cosmetic damages out of pocket instead. Doing this could save you a lot of money over the life of your policy.

Location

If you live in a state with higher than average crime or accident rates or that is prone to severe weather conditions, the cost your insurance will be higher. Additionally, some states have stricter regulations and require you to have more coverage than others, which will ultimately increase your premium.

Amount of Coverage

The deductibles and limits you choose will also have an impact on how much you pay. Lower deductibles can be tempting, but they also provide less coverage and lower limits, which could end up costing you more should you end up in an accident.

Riders

Riders that add extra coverage for your pets or your belongings will also increase your insurance costs. The same goes for emergency expenses coverage and roadside assistance, which may or may not be included in your basic policy.

Other factors that can affect how much you pay for insurance are your age, marital status, and insurance credit score.

In the end, having the right RV insurance will spare you many financial headaches, so if you’re wondering which are some of the best RV insurance policies available for full-time residents, make sure to check out our list of top rated providers.