Don’t Hit the Road in Your RV This Summer Without Full Insurance Protection
Whether you drive 600 kilometers per year in your RV (recreational vehicle) or 6,000, you need to have suitable insurance protection before hitting the road. Because insurance policies tailored to the needs posed by motor homes, recreational vehicles, fifth-wheels and/or travel trailers vary from province-to-province and policy-to-policy, it is important to insure your RV with at least the basics.
Most insurance specialists agree that comprehensive coverage is, indeed, a must as it covers most direct, sudden, and accidental losses including those caused by collision, theft, vandalism, fire, smoke, landslide, windstorm, lightning and hail. You may also want coverage for RV awnings, satellite dishes, and other accessories. There are even policies that cover emergency expenses including lodging or travel expenses home if the RV is damaged or destroyed by a covered loss while travelling.
The unfortunate reality is that RV’s depreciate. Make sure to protect your investment with replacement cost coverage. With minimal added cost, Replacement Cost Coverage provides peace of mind that the RV will be replaced with like kind and quality if a total loss occurs. Newer RV’s (usually within 10 years) are often eligible for Guaranteed Replacement Cost.
If you use your RV as a seasonal or permanent residence make sure you let your insurance broker know as you may need extended coverage. This may include coverage for liability, medical payments to others, and property damage claims caused by an accident for which RV owners may be held liable. Your homeowners or auto insurance policies may not cover exposures related to the use of your RV as a residence – even if just seasonal.
Because such special coverage policies vary from one province to the next and some coverages aren’t offered in all provinces, it is important to do your homework, or better yet, your “RVwork,” and find a policy that suits your travel needs.