Page 56 - Michigan RV and Campgrounds directory

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RV Insurance
When it comes time to purchase a recreation vehicle, whether it’s your first rig or your eighth,
a motorhome or a towable, it’s important to take the time to properly evaluate your insurance coverage options. Protecting a home on wheels, as expected, is not as cut and dry as most insurance policies you’re likely accustomed to.
Compiled below is a list of frequently asked questions that should help you navigate the winding roads of
the RV insurance world.
Q:What are my coverage options? A:In most instances, you will be required to have, at a minimum,
liability insurance – especially if you are renting – in case you are responsible for any damage or harm caused to other people or vehicles. Additionally, if you are financing your unit, most lenders will require that you have collision coverage for any damages received.
With that being said, you have two options in which you can file for coverage: add it onto your existing auto insurance or get separate RV insurance. If you add your RV to your existing plan, you will receive the same coverage benefits you had before. However, since your RV is more extravagant than your everyday car or truck, adding it onto your existing auto plan will make you exempt from coverage that would be unique
to a motorhome or towable.
Most policies will cover anything permanently mounted to your rig, but you would be wise to apply contents coverage to your policy
– especially if you’re deciding to add your unit onto your auto, as most auto and home policies do not extend coverage to destroyed or stolen personal items that were in your RV.
Comprehensive coverage will protect you if any damages occur from just about anything, including collision, fire, flood, theft, vandalism, hail, etc. This is especially important in a state like Michigan, where weather can be unpredictable.
Full Replacement Cost or Total Loss Replacement Coverage is great to have for that worst case scenario disaster. This will ensure you are reimbursed for a like-kind and quality RV if your current rig is totaled. Many auto insurance plans will only reimburse you for the actual cash value of your vehicle at the time of the incident, taking depreciation into account. Chances are, you’d also have to pay a large portion out of pocket to replace your coach or towable.
Additionally, with Full Replacement Cost coverage, Gap Insurance will not be a factor. Gap Insurance is great for
Q&A
Understand what you need and what to ask when purchasing RV insurance
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54 2016 MICHIGAN RV & CAMPGROUNDS marvac.org
auto policies because if your car is totaled, a covered total loss, and you happen to owe more on
it than it is worth, it prevents
Are you in need of repairs, service, or parts? Check out MARVAC’s interactive online map at www.marvac.org to find a member dealer, servicer, or supplier nearest you.
you from having to pay
the difference – insurance
companies will not pay you
more than what your car is
worth. But with Full Replacement
Cost coverage, more specific for RVs, if you
paid $100,000 for your RV, you will receive $100,000 to replace it.