RECREATIONAL VEHICLES Insurance Policy
Recreational vehicles insurance is intended to cover special vehicles and situations that are not covered by regular automobile policies. RV insurance is at times considered a hybrid, born from homeowners and auto insurance.
Individuals who use their RV for vacation purposes, as well as individuals who permanently live in their RV, both need insurance. Coverage may even include theft for belongings claimed to be inside the vehicle, which works similarly to a homeowners coverage.
Liability insurance covers bodily injury and property damage that is the result of the driver causing an accident or destroying property. RV insurance may also cover injuries that occur in and around the RV while it is parked.
Collision and comprehensive are also particular to RVs, especially in case of total loss. Most RV policies offer three types of loss coverage including market value, agreed upon value and replacement cost. That means in the event of total loss of the vehicle, the policy holder either gets the market value, or an amount agreed upon with the insurance company at the time the policy is purchased, or the evaluated amount it would take to replace the vehicle.
Vacation protection is also provided for RVs. If the vehicle breaks down, the insurance will cover the cost of a hotel or other lodging, as well as any transportation costs or car rental fees.
Recreational vehicles insurance also includes ATV insurance and golf cart insurance, which may cover the transport trailer, safety apparel, parts and accessories, collision coverage and give increased limits on liability.
There are many extra benefits included in RV insurance such as a storage option, which suspends the coverage for the months the RV is not on the road, but still protects it against fire and theft. The full replacement coverage protects against depreciation, and the full-time coverage is especially suited for people who live in their RVs.