How Much Does it Cost to Insure an RV?
When Sonja and I were looking at RV’s one of the pressing questions was how much would it cost to insure our new RV? We really needed to know if it was going too be affordable. One of the reasons we chose to full time RV is because we could spend about the same or slightly less than when we had an apartment and yet get to travel all over North America. But we had no idea how much it would cost for RV insurance, for all we knew it could have been a large chunk of change and would cause us to change our plans, possibly.
Perhaps I didn’t do the smart choice, we bought the RV before even looking at insurance, part of this was because we just had to try living in an RV full time and we would have done whatever it takes to achieve that goal because of the sheer amount of freedom it allows. I actually didn’t even start shopping for RV insurance until we got the call from the dealership called letting us know we got approved for a loan. This was Tuesday the 15 of August, and our pickup date was the 19th, but I had to have insurance on it.
So, what did I find out about RV insurance?
Well, quite plainly, it’s extremely cheap. In fact, full coverage on our RV only came out to $1,178.08 a year or about $98/month. That is about as much as I pay for comprehensive on my Jeep which I paid $1,900 for! I was extremely impressed with RV insurance affordability.
However, the reason it is cheap is because it says on my insurance fine print that the policy is rated for no more than 10 days of use a year.
Life Pro Tip on How to get the Lowest RV Insurance Rates
How I helped to get a rate this low was very simple, and you can do it too, is like Miranda rights when you get arrested (bad analogy?). ”What you say can and WILL be held against you”, now while you aren’t going too get arrested if you talk too much, your wallet will ache more. This is because if you tell the insurance agent you are going to live in an RV full time – or even part time – the agent has a fiduciary responsibility to let the underwriter know and they will charge you more because you are a much higher risk for the insurance company.
This doesn’t mean lie to them, I try to be as ethical as I can possibly be, but realistically it’s none of their business. So don’t bring it up!