What Is the Average Motorhome Insurance Cost?
You must consider several things before purchasing a motorhome, including the cost and insurance prices. Your motorhome insurance can shoot your payments up significantly, so it would be best to get a quote before purchasing your motorhome. This quote allows you to get an accurate idea of your budget.
Getting motorhome insurance is crucial if you want to protect your property. Motor homes can be expensive, especially if you have all of your possessions in the home. However, keeping insurance on your motorhome is the best way to protect your assets from unexpected circumstances like theft, accidents, and natural disasters.
Please continue reading to learn everything you need about the average motorhome costs to plan your budget. Unfortunately, insurance prices are different for everybody, and there are several factors insurance companies consider before giving you a monthly price.
The Average Motorhome Insurance Cost
There are three different classes of motorhomes you can get. Class A, B, and C motorhomes all impact your insurance rates differently. For example, a Class A diesel motorhome costs more monthly insurance fees than a class B RV.
You’ll also need different types of insurance depending on how often and why you use your motorhome. For example, if you use your motorhome every day and it’s your primary residence, you need heavier insurance coverage. Alternatively, you can save on insurance costs if you only use your RV or motorhome seasonally.
Class A diesel motorhomes are the most expensive on your insurance, and they’ll typically cost you $2000 a year. Fifth-wheel trailers are the least expensive on your monthly insurance rate, only costing about two hundred dollars a year. Every other type of insurance falls somewhere in between.
Types of Motorhome Insurance Coverage
Motorhome insurance costs vary depending on the type of motorhome you have. The average motorhome costs range between nine hundred and three thousand dollars annually. Below, we’ll discuss each class of motorhome you can get and how they impact your insurance rates.
1. Class A Motorhome
Class A motorhomes are the most expensive on your insurance because they’re the most luxurious and popular for full-time RV enthusiasts. Class A insurance costs on your RV can range between $1000 and $1300. However, if you choose a diesel, it’ll cost even more. OK
2. Class B Motorhome
Class B motorhomes are the smallest and most affordable type of motorhome you can purchase. This affordability applies to your monthly insurance costs and the general price you’ll pay for this RV. Several factors can impact your insurance rates for a Class B motorhome, but the average rates range between $600 and $1000 annually.
3. Class C Motorhome
Class C motor homes are a midsize option as far as price and size are concerned. Most Class C motorhomes cost between $600 and $1000 on insurance annually. This is a great option if you’re looking for something comfortable to travel in that isn’t too expensive.
What Does The Motorhome Insurance Cover?
The insurance coverage you receive on your motorhome depends on the type of lifestyle you live. You can act out of different services through your insurance, or you could choose to have every service they provide. Below, we’ll discuss the different coverage options you can select.
1. Property Damage and Bodily Injury Liability
This type of coverage is the bare minimum requirement in most states for motorhome insurance coverage. This insurance coverage can help you with legal fees associated with your accident. If you get into an accident and you cause damage or injury, this insurance will help lessen the financial blow.
2. Comprehensive
Comprehensive insurance coverage can protect your motorhome from vandalism, theft, and vehicles that collide with yours. This insurance coverage is fantastic for people who go camping as well because it protects you from damage caused by animals.
3. Collision
Collision coverage helps you offset the cost of damage to your motorhome no matter who causes the accident.
4. Medical
Vehicle accidents can cause severe injury. Unfortunately, this can be expensive if you live in the United States. When you get medical coverage on your motorhome insurance policy, your insurance company will offset some of your medical bills no matter who caused the accident.
5. Underinsured or Uninsured Property Damage
People dread the idea of getting into an accident with someone uninsured or underinsured. This type of insurance coverage protects you from the situation By covering the cost of the accident when you’re involved with someone with no insurance.
What Doesn’t the Motorhome Insurance Cover?
Even though motorhome insurance can cover several aspects of an accident or other unfortunate event, it doesn’t cover everything. For example, it’s unlikely that motorhome insurance will cover damage to your personal possessions when you’re in an accident. There are also unlikely to cover damage to the furniture inside your motorhome.
If you have valuable items in your motorhome that you want to protect, you’ll need to talk to an insurance agency and get protection on individual items. No motorhome insurance plan will cover your personal possessions.
Why Should You Buy a Motorhome Insurance?
You should buy motorhome insurance to protect your vehicle from accidents and unfortunate events. If you have a motorhome, you have many things to protect in that vehicle, and avoiding an accident is not always possible.
Driving on the road is the most likely place you’ll encounter an accident that damages property or causes injury. Your motorhome insurance is important for the following reasons.
- Motorhome insurance will protect you from financial loss if your RV receives damage.
- Motorhome insurance can soften the blow of medical bills during an accident.
- If someone vandalizes or steals from your RV, motorhome insurance can assist you.
You can’t prevent every unfortunate event that you’ll encounter on the road. You need motorhome insurance to keep you and your possessions safe.
Is Buying Insurance for Motorhome Worth Its Cost?
Buying motorhome insurance is worth the cost because it protects you from accidents and unfortunate events. However, the coverage you choose for your motorhome depends on how often you use the vehicle and your financial situation.
Discount on Insurance Cost
You can get discounts on your motorhome insurance if you qualify. Each insurance company offers discount programs, and some examples of those programs are the following.
- New owner insurance discounts can apply if you don’t buy a used motorhome.
- Good driver discounts can apply if you have a clean driving record.
- You can bundle your insurance together to save money.
- Installing anti-theft devices can save money on insurance costs.
- If you don’t make an insurance claim, you can be eligible for a discount on a new insurance policy.
Conclusion
Your motorhome has plenty of personal possessions because you live in it while you travel on the road. Unfortunately, driving is one of the most likely scenarios you’ll encounter an accident, so you need insurance coverage on your motorhome. Even if you’re a part-time RV enthusiast, you should have some type of coverage on your RV.
Your motorhome insurance cost depends on the class of motorhome you purchase and your driving history. For example, you can get discounts on your insurance rates if you have a clean driving record. Alternatively, insurance companies can increase your payments if you have a spotty driving record.
