Should You Purchase RV Insurance if the RV is Paid Off?

When you take out a loan to purchase an RV, or a recreational vehicle, you are required to carry full insurance on it, the same as you would if you were to take out a car loan. This helps to ensure that if the RV is stolen or totaled, the lender gets back the money they loaned you for the RV. Once the RV is paid off, you may find yourself wondering if you should still carry RV insurance. This is a question that many of our clients at Henderson Insurance Agency ask us. Here is our response to this question. 

In order to register your RV, you will need to carry liability insurance on the RV. The amount of liability insurance needed varies from state to state. We also recommend that you carry comprehensive and collision coverage, even if your vehicle is paid off. Both types of insurance help to protect your RV against things like your RV being stolen, being vandalized or you hitting a tree or parked vehicle with your RV.

An RV can be costly to repair or replace if it damaged or totaled. Purchasing insurance gives you peace of mind that you will only have to pay your deductible out of pocket, rather than the full amount of any damage done if your RV is damaged or is stolen. 

If you are looking to obtain RV insurance, or are looking to obtain a new policy, contact Henderson Insurance Agency. We can help you determine how much coverage you need and put together a policy that offers you the protection and limits that best suit your needs. Call us now to get started and to obtain a free quote.