Do You Have The Right Insurance?

How does RV Insurance differ from Auto Insurance?


With summer just around the corner many people are pulling out the RV and getting ready for camping trips.  At PMC Insurance we provide many different types of insurance.  RV's can be significant investments and we want to help you protect your investment.  Come and talk with us about RV insurance options.  


If you're looking at recreational vehicle for your family holiday, you might want to call your insurer before making a down payment. Different types of RVs call for different types of insurance and the costs and coverage may influence what type of RV you decide to buy. You also need to find out if your insurer offers RV insurance in the province where you reside, since not all insurers provide RV coverage in all provinces.

Most RV policies fall into three basic categories:

1. Class A, B and C motor homes. These come with their own engines and you drive them to your destination. Class A units are the largest and are seen as luxury motor homes, class B are large camper vans with raised roofs, and class C units have a van cab that attaches to truck-like auto chassis.

2. Trailers. These can range from tent trailers to "fifth wheels" that can provide similar amenities to a motor home. What they have in common is that they are both hitched to a tow vehicle. For insurance purposes, truck campers also fall into this category.

3. Park models. Although these units are mobile, they are not designed for travelling - just for getting from Point A (your home or the dealer's lot) to Point B - a motor home park where you will use is as a vacation or permanent residence.

Liability

If your RV has an engine, it falls into one of the three motor home classes and will need the smae insurance coverage that your province requires for any automobile. Even small motor homes are much larger and weigh more than most vehicles on the road. They can cause a lot more damage in a crash, so you may want to increase your liability protection over and above what is required in your province for automobiles. This is particularly advisable if you plan on driving it to destinations in the United States, where there exists a fondess for litigation. 

Ways to Save

Your insurer may not require year-round collision or liability coverage. If you will be using your RV for only a month or two each year, you may be able to save money by suspending or deleting coverage while its in storage. If you choose to suspend coverage, however, note that if it isn't stored on your own property where you can keep an eye on it, you remain vulnerable to vandalism or a hit and run. Saving $300 on collision or comprehensive coverage is a false economy if you end up paying several hundred thousand on repairs. 


Source: By Liz Metcalfe