After you own your dream car. The next turn is to insure your vehicle. What is the best insurance coverage for your vehicle. There are great deals which you shouldn't miss.
There is a great deal of overlap between RV and auto policies. If you have a motorized RV, you will need some of the same coverage’s provided by an auto policy plus specialized RV coverage's. I will attempt to explain a few things to consider without confusing you.
Regardless of the insurance company you decide to use, there are a handful of basic coverage’s you will need to have in your policy. Again, this coverage is very similar, if not identical, to the coverage you have on your personal auto insurance policy.
This coverage can be broken down into two different categories; liability and physical damage. All motorized RV’s will have some form of liability coverage. Towable RV’s like travel trailers and 5th wheel trailers do not have any liability coverage. However, if you own a travel trailer or 5th wheel the section on liability may contain information helpful to you regarding the vehicle you use to tow your trailer.
There are many things to consider, here are just a few:
Liability CoverageThere are a number of coverage’s that fall under the category of liability coverage including Bodily Injury, Property Damage, Uninsured Motorist Bodily Injury, Under insured Motorist, Uninsured Motorist Property Damage, Personal Injury Protection and Medical Payments. Some of these coverage’s vary by state.
Note: The Department of Insurance in the state you live in can be an excellent resource for additional information regarding state specific coverage’s. Most states offer a Consumer Buyer’s Guide on their website that will explain state specific nuances to each of these coverage’s.
Bodily Injury is third party coverage. This means it provides protection for claims due to injuries to a passenger in your vehicle (other than you or a family member) or passengers in another vehicle, or pedestrians. It provides you, the owner/operator of a motor vehicle, with protection for your legal liability due to the ownership, maintenance or use of your RV.
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