Buying and Insuring Your RV (Recreational Vehicle) Author:    Posted under: Auto InsuranceAuto Insurance by Car Types


The number of people or families that purchase RVs are increasing daily. Whether for pure recreational purposes or as living quarters, RVs have come a long way from being just a camping vehicle. RVs have also made traveling cheaper and exciting.

But before you get all excited, sit down and determine what type of RV you and your family need. How many would you expect to be on-board while traveling? What facilities would you need? Purchasing an RV is not as easy as getting a car. I think, it takes more than just style, color, brand or model to zero in on that perfect RV for you.

After you’ve determined the use for the RV, checking out the best places to purchase one is the next step. It pays to do some research on that, too. Many RV associations are just a click away. You can get in touch with them and ask for opinions on where to best purchase an RV. Take into consideration how much you can afford and the amount of the loan you still need to get.

Look into places where you can get the funding that will best suit you. If you can afford to make a large down payment then your monthly amortization may be lower. Or if you can afford just a small or minimum amount on your down payment, then expect to pay a higher monthly amortization.

Remember, also that the longer term you pay, the higher the interest it will incur. If you have the means to pay your loan on a shorter period then by all means do so. It will save you money in the long run.

Next step would be to get insurance for your RV. Although it is possible to get typical car insurance for your RV, it is more prudent to get a separate insurance for your RV. That way you’ll have peace of mind that you are fully and rightfully covered while traveling.

There are quite a number of factors that insurance companies look into when insuring RVs. Where you live or store your RV is one of them. You must take into consideration where you store your RV when not in use. It determines how high your premium may get. You must also consider storing your RV in a nearby state if the place where you live in has extreme weather conditions. But in doing that, you might also need to register your RV there.

You must determine if you are going to live in your RV full-time. If you are, you need more than just an auto-type of insurance. A floating homeowner type of insurance is appropriate for you. Also, you have to insure your belongings as well. Make sure that personal effects are also included in your RV insurance policy. It will cost much more but will be beneficial if an accident does happen.

Membership in any organization usually comes with perks and privileges. The same is true when you acquire membership with RV Associations. You will be guaranteed assistance or support whenever you need it- RV related of course. Inform your RV sales rep about any RV membership you have.

If you have an existing policy with an insurance company mention that to your sales rep. They might be able to give you a discount on your premium if you are eligible for a multiple-policy discount. Determine also how much you can afford as out-of-pocket expense. If you have some amount saved up it can bring your insurance cost to a minimum.

Just like with cars, the type of RV you will get will be a factor in your insurance rate. The more expensive the model is, the higher the insurance rate is. It is wise to look into the RV model that is cheaper to insure.

Your age and driving history are also factors that insurance companies consider in quoting your insurance premium. If you have had experience in driving an RV before, it will be an advantage.

And of course, your credit standing will always be a part of the equation. If you have good credit standing then it will give the insurance companies assurance that you will be able to live up to your financial obligations and responsibilities.

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