A new recreational vehicle at home can mean so much fun! Over the years, the need for recreational vehicles alias (RVs) has increased significantly. More and more families are buying RVs for road trips and mobile homes. This can be attributed to the fame of “Texas RV Insurance” policies. There are several benefits in owning a RV insurance policy. These plans are fine tuned to meet the requirements of RV owners. Policies can differ based on the recreational vehicle you own.
Here are a few scenarios where Texas RV insurance becomes essential.
- Liability Insurance
All motor homes in Texas are expected to have valid liability insurance. If you are planning to drive around in motor homes, you should have the right kind of Texas RV insurance. You will receive full coverage based on how the vehicle is financed. Full coverage for RVs is optional. But that doesn’t mean you should opt out. Figure out the value of your recreational vehicle and decide if you can self-insure the home completely or not.
- Financed RVs
Financed recreational vehicles are bound to have full insurance coverage. That is because lenders prefer full reimbursement when something goes wrong. If you don’t have adequate coverage, your mortgage lender will take it from the insurance scheme. Next, you will receive a bill from the lender. Insurance policies that are purchased by lenders will not have any liability and can cost you a higher premium.
- Rental RVs
Rental RVs will be under your control while you are driving it! It is extremely important to have complete insurance coverage on the vehicle during this time. Consult your insurance carrier and see if the policy extends to renting. Most Texas RV dealers insure their vehicles completely. But, this is something you should verify thoroughly.
- Towable RVs
Towable recreational vehicles have travel trailers, fifth wheels and pop-ups. Liability often comes from your car insurance policy, when you tow a camper. For example, if your camper is not attached to your truck or is damaged, you can use an auto insurance policy to cover the charges.
Important Components of RV Insurance
When compared against conventional auto insurance policies, Texas RV insurance is different and structured with unique features. Here is a quick walk through few important components of a RV insurance.
- Replacement Cost
Full replacement cost is an important component of your insurance policy. If your recreational vehicle is totaled or stolen, collision/comprehensive coverage will give you the vehicle’s depreciated value. This means, you will lose a considerable amount of money during the time of loss. With RV insurance, you will be paid completely! Full replacement cost will get back what you actually paid for the RV. This is why you should invest on RV insurance.
- Attachments & Personal Property Coverage
Attachments and personal property coverage are used to take care of camping supplies, cooking appliances, satellite dishes, furniture and sporting gears in the vehicle. In most cases, RVs are loaded with lots of attachments and items. Traditional auto insurance will not take care of these items or attachments. In case your stuff in the RV are damaged or stolen, “Personal property & Attachments Coverage” will help you replace or repair.
- Vacation Liability Coverage
Vacation liability coverage is an important component in RV insurance plans. If your recreational vehicle is a campsite or park, it is considered as your temporary vacation spot. It would be wise to have a liability insurance policy to cover all possible damages caused to your vehicle or someone else. After all, neighbors and kids are likely to play around your RV. In such situations, you require a proper coverage plan.
- Roadside Assistance
Basic RV insurance will provide you adequate coverage. However, it may not offer roadside assistance. If you require roadside assistance, you should opt for “Roadside Coverage”. This insurance will offer you high-limit coverage. In simpler terms, it will take care of all charges associated with towing and servicing.
- Travel Expenses Coverage
What would you do if your RV breaks down or faces an accident during your journey? Will you pay out of your pocket? In such situations, Travel expenses coverage will be useful. This coverage will pay for transportation and lodging while your RV gets repaired. Most travel expenses coverage policies can be used within 100 miles. Well, the final terms and conditions depend on the insurer.
- Full Time RV Coverage
Finally, you can opt for full-time RV coverage. This coverage is very important if you are planning to use the vehicle as your primary home. The insurance comes with many benefits. For example, it will offer you high limit personal liability and take care of various medical payments.
Ultimate Bottom Line
Based on your Texas RV insurance policy provider, your coverage will differ drastically. Remember that RVs are not meant for traveling long distances. However, this shouldn’t stop you from insuring the vehicle.