The average cost of motorhome insurance can range from $900 to $3,000 for most motorhomes in the US in 2020. Although, the cost of good motorhome insurance policies will vary. A Class C motorhome will have lower premiums than a Class A RV.
The size of your motorhome factors into the cost of insurance as well. Insurance agencies use three class sizes to rate motorhomes. Class A motorhomes are full-size luxury RVs with full-quarter living amenities. Also known as “camper vans,” Class B motorhomes are smaller & less lavish but may still be lived in, on a full-time basis. Next are Class C motorhomes which are mid-sized and less accommodating.
Class A Motorhome
Class A motorhomes are the largest and most expensive type of motorhome. Rates are calculated based on a few factors. Based on estimates, the average annual insurance premium for a gas-powered Class A motorhome is approximately $1,000-$1,300, based on usage of 140 days per year.
Class B Motorhome
Class B motorhomes are the smallest of the three categories. These motorhomes can be covered under a standard auto insurance policy. Yearly rates are calculated the same way a normal vehicle policy is constructed.
Class C Motorhome
Class C motorhomes are mid-sized. The majority of Class C motorhomes feature space, which includes a sleeping area, it could extend above the main cab compartment as well. Premiums are calculated on factors which vary by state, type/frequency of usage, age/value of RV. The average, premiums run anywhere from $800-$1,000 & up.
Miscellaneous
5th-wheel trailers sometimes attached by a hitch on the back of a truck, and other travel trailers are on average less expensive to insure. Rates vary by state, age/value, size, and usage. Your normal policy includes a minimum of comprehensive and collision insurance coverage. This is based on a lot of factors affecting premiums. The cost can be anywhere from $200 up to over $1,000 for newer, & more frequently used trailers.
What factors into the cost of Full Time Motorhome Insurance?
Full-time motorhome insurance costs, depend on several factors. To start, the resale value of the motorhome accounts for a significant amount of the motorhomes insurance costs. A new, more expensive motorhome will typically cost more to insure than a used motorhome.
Motorhome Theft Coverage
How likely it is that your motorhome is broken into will factor into the rates you qualify for. It’s very much like a standard auto insurance policy in that way. While motorhomes usually are not as likely to be stolen as your average car, they can be an excellent target for burglars and delinquents. This is particularly true when the motorhome is left unattended at a motorhome park or campsite. Where the motorhome is stored plays a huge factor in how vulnerable your motorhome is. A motorhome that spends the most of its time in areas with high rates of property crime will cost more to insure than a vehicle stored in a quieter area. Motorhome insurance agencies usually use ZIP code information to determine the motorhomes risk. Flooding could also play a factor.
Motorhome Road Accident Coverage
Accident risk can drastically affect the cost of your motorhome insurance. Because most of the driving happens on high-speed highways and rural unpaved roads, motorhomes that are driven frequently run the risk of being in a very tragic accident. In addition, repair costs for a motorhome are a lot more than the costs of repair work performed on a typical vehicle.
What’s Not Covered By Full-Time Motorhome Insurance
Most motorhome insurance policies will not cover interior furnishings or personal belongings. Although, some insurance agencies offer policy riders for those wanting to protect the valuables stored in their motorhomes. It can be more practical to take out a separate policy on each item of value.
Why Buy Motorhome Insurance?
Your motorhome is a personal vehicle, you’re going to want to cover it for comprehensive / liability and collision incidents, just like your other vehicles. But because a motorhome is also a temporary or even permanent house, motorhome insurance can be more complex than your standard vehicle policy.
Motorhome insurance is basically a combination of both a vehicle and a homeowner’s insurance policy.
Some of the specialized motorhome coverage can include;
- Total loss replacement
- Personal property replacement
- Emergency insurance coverage providing food, lodging, & alternate transportation
Additional motorhome coverage;
- Liability (damage to people or property) in the event of accidents in the RV, at the campsite, towing expenses/damage.
- Stolen personal items not covered under a standard homeowner’s policy.
- Comprehensive coverage for theft, vandalism, or fire.
- Storage expenses.
Discounts for Lower Motorhome Insurance Rates
There are many ways to get discounts to lower your annual premium rate.
Here are a few to inquire about;
Bundle; Do you have an auto, watercraft, homeowners, or some other type of policy in place? Ask an agent about bundling them to save money.
New owner; If you are the original owner of an RV, you could qualify for a discount. Original owners of a motorhome could possibly qualify for a discount for taking out comp/collision coverage.
Pay the entire annual premium; Sometimes if you pay your total annual premium at once you receive a discount.
Good driver; If you have a clean driving record for at least three years, there is a possibility you could get a discount.
Claim free; Filing no claims equals saving money on discounts applied to new policies.
Auto pay; A lot of times when you opt in for auto pay you will receive a discount.
Paperless; Keep the world green, do your part for the environment and save money at the same time. Check with an agent to see if going paperless will save you on your insurance.
Anti-theft devices; Taking preventative measures can result in a discount. Kill two birds with one stone, protect your motorhome and save money.
Wrapping up; having your motorhome covered is crucial. Especially if you’re traveling and in remote areas. Call us today, we can have an agent walk you through your options and make sure you get the protection you need for your motorhome.