Recreational Vehicle Insurance

 What are considered recreational vehicles?

Recreational vehicles are vehicles typically purchased for pleasure. They include boats, jet skis, RVs, travel trailers, UTVs, ATVs, motorcycles , snowmobiles, and more.

Why do you need insurance for your recreational vehicle?

Many people assume their auto or homeowner policies extend to these items, but that is not the case. Even though you may be only concerned with the damage to your recreational vehicle, there are many other things to consider. Some of these things are injuries to yourself or to others, including your passengers, or liability for damage to personal property of others. These can cost you much more than the value of your recreational vehicle if you don’t insure yourself correctly.

You’ll enjoy your recreational vehicle even more when you’re not worried about the safety of yourself, your passengers or your investment. Here are a few things to consider:

• If you’re in an accident or your recreational vehicle is stolen, it costs money, often a lot of money, to fix or replace it.
• If you or a passenger is injured in an accident, medical costs can be extremely expensive.
• If your vehicle is responsible for damage or injury to others, you may be sued for much more than you’re worth.
• Your recreational vehicle may be one of your most prized possessions. It deserves special protection.

Things to consider and questions to ask your agent

Good & Associates, Inc is an advocate for finding insurance that meets your specific needs. Here are a few things to consider as you prepare for the discussion:

• How much can I afford to pay if my recreational vehicle is in an accident, damaged or stolen? You may be purchasing a recreational vehicle and have to consider the lender’s monthly payment amount in addition to your insurance payment. To help keep premiums low, you may want to choose a higher deductible. You will have to be willing to pay more out of your pocket to the garage for the repairs. Our agents will do their best to give you the right coverage at the best price available.
• What discounts and programs are available? Discount options vary between carriers. Many agents provide a discount on all homeowners, auto, and life insurance policies if more than one policy is written through the same carrier. Some uncommon discounts worth mentioning are motorcycle safety courses and motorcycle and RV group affinity discounts. Some carriers will give you a discount if you go “paperless” and have all documentation sent to you electronically and others will discount for paying in full for the term or having monthly amounts drafted directly from your checking account.
• How much medical and liability coverage should I have? Recreational vehicle policies, unlike auto polices, do not require first party benefit coverage (i.e., medical coverage for you as the operator) in some states. Even though the state doesn’t require it, you should consider it. If you don’t have medical on your recreational vehicle policy, your personal health care will have to cover your injuries. If you don’t have good health care, it is a good idea to carry a larger amount on your medical and other first party benefits on your recreational vehicle policy. As far as liability coverage, you should carry the same as you would carry on your auto insurance. If you are at fault and are sued, you still need to protect your assets.
• Do I have coverage if I need to have my recreational vehicle towed in an emergency? Towing is an endorsement that can be placed on your policy usually when you carry comprehensive or collision. Most carriers provide specialized towing specific to the type of recreational vehicle you are insuring. Believe it or not, there are times when you may have to have a boat towed off the water. The premiums are quite minimal for this very important coverage.