Insurance Quote
Time to do an RV Insurance Audit
“Imagine saving enough on insurance to fund a weekend at Yellowstone!” Auditing your RV insurance annually is a smart way to cut costs while ensuring you’re adequately covered for your adventures. Here’s an expanded look at how RVers can save money by reviewing their insurance policy each year, t
Why Audit Your RV Insurance Annually?
RV insurance rates and coverage options fluctuate over time due to factors such as market competition, your driving history, or changes in your RV usage. Failing to review your policy can lead to overpaying for coverage you don’t need or missing out on new discounts. An annual audit ensures your policy aligns with your current needs, whether you’re a weekend warrior, seasonal traveler, or full-time RVer.
Steps to Conduct an Effective RV Insurance Audit – Review Your Current Policy in Detail
Check the coverage types (liability, comprehensive, collision, personal property, roadside assistance, etc.) and ensure they match your RV lifestyle.
Example: If you store your RV for six months a year, you may not need full coverage during that time. Ask your insurer about a storage-only policy, which can reduce premiums significantly.
Verify deductibles. Higher deductibles can lower premiums, but ensure you can afford the out-of-pocket cost in case of a claim.
Compare Rates from Multiple Providers
Shop around with at least three insurers to compare quotes. Popular RV insurance providers include Progressive, Good Sam, and National General, but smaller regional insurers may offer competitive rates.
Use online comparison tools or work with an independent insurance agent who specializes in RV policies. They can often find niche discounts or carriers tailored to RVers.
Be wary of choosing the cheapest option without checking coverage limits or customer reviews. A low premium isn’t a deal if claims are denied or service is poor.
- Ask About Discounts Specific to RVers
Storage Discounts: If your RV is parked for part of the year, many insurers offer reduced rates for suspending certain coverages (like collision) during storage. - Full-Timer Discounts: Full-time RVers may qualify for special rates, as some insurers treat your RV like a primary residence, offering unique protections or savings.
- Bundling: Combine your RV policy with auto, home, or other insurance for multi-policy discounts, which can save 10-20% on premiums.
- Safety Features: If your RV has anti-theft devices, backup cameras, or other safety upgrades, ask if these qualify for discounts.
- RV Association Memberships: Membership in groups like Good Sam, FMCA, or Escapees RV Club often unlocks exclusive insurance discounts.
- Claims-Free or Safe Driver Discounts: If you’ve gone years without a claim or have a clean driving record, you may be eligible for lower rates.
- Pay-in-Full Discounts: Paying your annual premium upfront instead of monthly can save on processing fees or interest charges.
- Assess Your Coverage Needs Based on RV Usage
If you’ve downsized to a smaller RV or upgraded to a newer model, your insurance needs may have changed. For example, a new Class A motorhome may require higher liability limits, while a pop-up camper might need minimal coverage. - Full-timers should ensure they have personal liability and contents coverage, similar to homeowners insurance, to protect belongings and cover incidents at campsites.
- If you travel to Canada or Mexico, confirm your policy extends coverage across borders, as some insurers charge extra for this.
- Check for Redundant Coverage
Avoid overlapping coverage. For instance, roadside assistance through your RV insurance might duplicate services from an auto club like AAA or Good Sam Roadside Assistance. - If you have a warranty or extended service contract on your RV, ensure your insurance doesn’t cover the same repairs, which can inflate premiums.
- Update Your Insurer on Lifestyle Changes
Notify your insurer if you’ve moved to a new state, as rates vary by location due to weather risks, theft rates, or state regulations. - If you’ve reduced your RV usage (e.g., from full-time to occasional trips), you may qualify for lower rates.
- Conversely, if you’ve started renting out your RV (e.g., through Outdoorsy), you’ll need specialized coverage, which could affect costs but protect your investment.
Real-World Example
Let’s say a listener of The Smart RVer owns a 2018 fifth-wheel trailer and pays $800 annually for insurance. By auditing their policy, they discover they’re covered for full-time use, even though they only camp three months a year. Switching to a storage-only policy for nine months saves them $300 annually. Additionally, they bundle their RV and auto insurance, earning a 15% discount, saving another $100. By paying the premium in full, they save $50 more. Total savings: $450/year—enough to cover a new RV water heater or a few nights at a premium campground!
Final Thoughts for The Smart Rver
An annual RV insurance audit is like checking your RV’s tire pressure before a trip—small effort, big payoff. By comparing rates, hunting for discounts, and tailoring coverage to your lifestyle, you can save hundreds without sacrificing peace of mind. For The Smart RVer listeners, this tip means more budget for campgrounds, upgrades, or that bucket-list cross-country trip. More Money Saving Tips: