There are many commonly held misconceptions about RV insurance. As someone who is new to the world of RVing, you need to know what bumps in the road a bad policy can pose. Read on to learn how you can ensure that your future RV is fully protected by busting some of the more popular myths.
Your RV is Covered by Your Auto or Home Insurance Policy
Whether you own a travel trailer, pop-up, or motor home, the RV requires its own insurance policy. Your auto insurance policy extends to the trailer while you are towing it between places for liability only, but once you unhitch, the protection ends. Home insurance may provide some coverage while it is parked in your yard, but will not help to cover the cost of your kitchen, bathroom systems, furniture or accessories, and on top of that, you won’t have any physical damage coverage while traveling. Only an RV insurance policy is able to provide full-time protection no matter where your vacation home is parked.
You had Coverage for the Travel Trailer – You can Transfer the Policy to Your New Motorhome
A Class A, Class B, or Class C motorhome requires a policy that not only covers your personal possessions and the physical components inside the vehicle, but also extends the type of coverage found on an auto insurance policy. The coverage for a travel trailer will not take care of a damaged engine or transmission. Work with your insurance broker to ensure you are properly protected.
The Owner’s Insurance Covers Your Rented RV
Many Canadians take off on summer vacations in rented RVs. You must read the rental contract very carefully. The owner likely does carry an insurance policy, but that doesn’t mean that if you caused damage to the unit that you will be off the hook. That mythical owner’s policy will not likely offer any kind of chance to recover your lost possessions. Check out our RV rental insurance page for more information.
My Roadside Assistance Program Covers RV Towing
While your current roadside assistance program likely says that it covers all the vehicles in the family, there is probably a disclaimer about the size of the vehicle to be towed and the promise of trucks able to pull your motorhome or 35-foot trailer. We offer roadside assistance that is designed to keep your mobile vacation on track. We will send the right tow truck out to get you off the road safely and bring your RV to a repair shop that specializes in RVs, motor homes, or heavy-duty trucks.
All RV Insurance Covers Your Rig from Bumper to Bumper
Some insurance companies offer a quick general RV insurance policy, but it rarely protects your entire investment. You may experience some damage to your stairs, antenna, or bike rack just from hitting a big pothole. Bolt-on accessories are seldom covered in those blanket policies. Should you lose your RV due to fire or theft, you may receive a cheque for only its depreciated value without including all your items that are packed inside. At Wayfarer, we understand that every trailer and motorhome is as unique as its owner, and we work with you to craft a policy that truly helps you keep your rig on the road while keeping your budget under control.
If you are thinking of buying or just purchased a new trailer or motorhome, give us a call at 1.844.929.4768 and talk to one of our licensed insurance brokers. We will help you find an RV insurance policy ready to repair your trailer, replace lost possessions, and even rescue you from a breakdown which helps to ensure that every family adventure will build a book of happy memories for you and your children. That is no myth.
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