Everything You Should Know About Full Time RV Insurance

There are many reasons to opt for a life of full time travel in your RV. It allows you to see more of the beautiful world we live in without the hassle of finding and paying for a hotel each night. There are also some pretty important basics you’ll need to know about full time RV insurance, including the coverages you’ll need and what qualifies you as a full timer.

Full time RV insurance is a more comprehensive type of RV insurance policy that’s specifically designed for those people who spend more than 150 nights per year in their RV. It’s kind of like a mix between an auto insurance and homeowners insurance policy, protecting the RV, the people and belongings inside it and many other external factors.

It’s also important to note that your homeowners insurance policy, if you have one, can cover some aspects of your RV if it’s parked on your property or stored away from your home and not in use.

Full RV insurance coverage includes everything you need to be protected, whether you’re on the road or stopped at your new favorite campsite. It covers the liability aspect in case you cause damage to someone else’s vehicle or property or cause injury to someone else. It also protects your RV from a multitude of things, and may even provide you with a new RV if yours is totaled.

While all of the following coverages but liability are typically optional, if you took out a loan to buy your RV and still owe money on it, your lender will require you to have an array, if not all, of these coverages. Let’s break down all the coverages below.

Bodily Injury Liability: Similar to your auto insurance, this liability coverage is designed to pay for injuries you cause during an accident and is typically required in every state. It’s only applicable to drivable RVs since towable models carry the liability coverage of the vehicle towing them.

Property Damage Liability: This liability coverage is designed to pay for damage you cause to other vehicles or property during an accident and is also typically required in every state. Again, it’s only applicable to drivable RVs since towable models carry the liability coverage of the vehicle towing them

Uninsured/Underinsured Motorist: If you get into an accident that was caused by a driver who either doesn’t have insurance or has an insufficient amount of insurance, these interchangeable coverages will help pay for the damage caused to your RV and injuries to anyone inside it.

Collision Coverage: If your RV is damaged due to an accident, even if you’re not at fault, collision coverage will pay to repair or replace your RV. This differs a bit from your auto insurance because it can also pay to replace any personal belongings you’re traveling with that may have also been damaged.

Total Loss Replacement: This coverage is typically extra and is designed to replace your RV if it’s totaled. If it’s totaled within its first four years on the road, it can provide you with a new or comparable model. If it’s totaled in years five through seven, it will reimburse you the actual cash value or original purchase price (whichever is higher). After the seventh year, it will reimburse you the RV’s actual cash value, which includes depreciation in its pricing factor.

Personal Effects Replacement: Going back to the personal belongings you keep inside your RV, this coverage will pay to replace them. The standard coverage limit for combined belongings is typically up to $5,000 per claim, but you may be able to add an endorsement for up to $100,000 worth of personal property coverage.

Comprehensive Coverage: This coverage protects your RV from things that are out of your own control, such as damage caused by natural disasters, theft and vandalism.

Medical Payments: Also called MedPay, it helps to cover medical expenses for injuries to you or anyone in your RV after an accident — whether you’re at fault in the accident or not.

Roadside Assistance: If your RV breaks down, gets a flat, runs out of gas, needs to be jump-started or you need some other sort of assistance, this coverage is designed to pay for 24-hour help that you need.

Towing & Labor: If your rig breaks down and you need a tow, this will help pay for the towing and could help pay for the labor associated with the breakdown.

Gap Insurance: So if your rig is worth $20,000 but you’re still paying $20,000 toward a $40,000 loan on it, gap insurance can cover the extra $20,000 you still owe to your lender if your RV is totaled. However, total loss replacement coverage can act similarly if your RV is less than 4 years old, but gap insurance will handle it if your RV is more than 7 years old.

While all the coverages above can be applied to both full timers and part timers, vacation liability coverage is the only coverage full time RVers likely won’t have. Hints the name, it pays for up to $10,000 worth of vacation expenses if your rig is damaged at its temporary spot, like a campsite. Since full timers live in their rigs, there isn’t any “vacationing” involved.

Depending on the factors at hand, full time RV insurance could cost you anywhere from $200 per year to several thousand dollars per year. The cost of full time RV insurance differs greatly based on a variety of factors, including what type of RV you have, its age and type, how much it costs, the location where you’ve insured it, your driving history and much more.

While there’s no exact amount it will cost everyone, full time RV insurance is undoubtedly more expensive than regular RV insurance because those full timers are spending more time driving their rig and, therefore, are more likely to get in an accident or sustain damage. 

Depending on where you live, how often you use your RV, and several other factors, RV insurance can vary from $200 annually to nearly $4,500 annually. States like Michigan and Florida that have above-average prices for auto insurance are likely to have similarly above-average rates for RV insurance.

With Clovered, getting full time RV insurance is easy. Simply fill out a few details about your RV and driving history and one of our licensed in-house agents will pair you with a policy that fits your unique needs at a price you like.