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Understanding RV Rental Insurance Options
This summer, thousands of Americans will take to the road in their motorhomes. RV travel is becoming one of the most popular ways to vacation since it’s affordable, convenient, and fun. Gone are the days of having to buy an RV and maintain it just to take an occasional vacation; now, RV rental services make it easy for anyone on any budget to go RVing. But while the process of renting an RV is simple, there’s one aspect of it that’s a bit more of a conundrum: RV rental insurance. We’ve put together this general guide for those of you who are wondering how to get RV rental insurance. (If you're wondering 'What insurance does RVshare offer? Head to our Insurance page to learn about our specific coverages.)
What Are RV Rental Insurance Requirements?
In order to rent an RV, you need to protect yourself with insurance. It would be ludicrous to rent one uninsured, and in fact, it’s illegal. RVs are expensive, so the company wants to make sure you can pay for damage if something happens. RV rental insurance requirements include:
Liability insurance. This covers you if someone gets hurt, or their property gets damaged, and they try to sue you. Usually, the rental company provides this coverage.
RV rental insurance, which is just like car insurance. It offers limited liability, collision, and comprehensive coverage. You’ll need it in case you get in a minor accident, or the RV gets damaged during your vacation. You have to purchase this coverage yourself.
RV Renters Insurance – How it Works
When you rent an RV, the company will almost always provide some type of liability coverage. This protects you against third party claims. You’ll also get roadside assistance in case you break down while you’re on the road. However, you still need to have RV rental insurance coverage, which covers other situations that don’t fall under liability coverage. You have a few options to get RV rental insurance:
With a temporary RV rental insurance binder through your current provider, if they allow it
Purchasing insurance through the rental company, if they offer it
Purchasing RV renter’s insurance through a third party
You’ll want to go with the choice that’s most convenient at the time. For example, if the rental company offers insurance, it might be easier to go with their plan and keep all your vacation bills in one place.
Getting Insurance Through the Rental Company
Some rental companies offer RV insurance as an additional purchase with your rental. You may also see this through P2P websites like ours, where the owner allows you to go on their insurance for a fee. This can be a convenient option, as the process of going through an RV rental insurance company can be tedious. However, make sure you check what the limits and deductibles are – you don’t want to get stuck in a situation where you’re underinsured or have to pay a $3,000 deductible!
Information About RV Rental Insurance Binders
You can get temporary coverage on your auto plan through an RV rental insurance rider (or binder - same thing). Not all auto insurance providers offer this, so you’ll have to give them a call to find out. Essentially, they’ll extend your auto insurance to cover the RV while you’re renting it. However, there’s a drawback to this: the limits may not be high enough to cover damage to a motorhome since motorhomes are so expensive. Furthermore, it won’t cover non-auto damage (if you break an appliance), and it won’t cover your personal property inside the RV. That’s why many people choose to buy insurance from a third party.
How Much is RV Rental Insurance?
Just like with car insurance, RV rental insurance costs vary depending on a number of factors. How much RV rental insurance costs depends on:
What type and size RV you’re renting
The age of the RV, and whether it has custom or luxury features
Your driving record
What limits are required by the state
What you choose for limits and deductibles
If you opt for supplemental coverage, like personal belonging protection
Of course, full coverage for a large RV is always going to cost more. What’s more, the costs will vary between companies. As a very general estimate, RV insurance can range from $15 - $30 per day. Your best bet is to speak with the different companies and get several RV rental insurance quotes.
Making the Best Decision for You
Choosing a provider and insurance coverage can be tricky because there are so many variables. Here are a few things to keep in mind when researching RV rental insurance:
Think about what features are most important to you. For example, would you rather have a lower deductible and higher payments? Would you prefer to play it safe and get as much coverage as possible?
Consider whether you want add-ons. If you’ll be bringing a lot of personal property on vacation with you, you should make sure insurance covers it.
Get quotes from different providers: your insurance company, a third-party company, and the rental company (if possible). See if your insurance company will offer you a discount since you already have insurance with them.
Compare the quotes to see which offers the best balance of price, coverage, and convenience.
Getting RV rental insurance is a necessary step in the rental process. Unfortunately, it can be a tricky one. Hopefully, this guide has helped you understand how insurance works and how to make the best decision for your vacation. Of course, we’re always hoping that you’ll never have to use your insurance at all! Stay safe and enjoy your travels!