A recreational vehicle is an incredibly valuable asset that matches your nomadic lifestyle and gives you the chance to make the most of a relaxing getaway every now and then. You are very fond of your home on four wheels; this is precisely why you would do everything it takes to protect it against a wide range of natural and man-made threats. Naturally, you are contemplating the idea of investing in RV insurance in West Palm Beach and want to go for a policy that could help you keep all risks at bay. If that’s the case, keep reading to discover a few essential aspects that you should weigh before investing in an insurance policy for your recreational vehicle.
Is RV Insurance Really Necessary? Yes It Is!
You may think that RV coverage is not something that you should research and invest in at this point, simply because you use your mobile home very seldom. This is a misconception that could get you into a lot of trouble at some point. Even if you get to enjoy your home-away-from-home on four wheels every once in a while, you should still strive to get the best deal in terms of RV insurance in West Palm Beach. Here’s why: first of all, most types of motor homes that are being driven from point A to point B require liability coverage. This type of insurance policy can protect you in case of an accident, when you become responsible for damages or injuries suffered by the passengers in the other car. RV coverage becomes a must in three distinctive situations: when your recreational vehicle is:
- Your current motor home
In the state of Florida, RV owners are required to carry a minimum level of coverage to be able to register their motorhomes. In other words, in Florida one must carry minimum $10,000 of PIP (personal injury protection) and another $10,000 worth of property damage liability. PIP covers up to 60% of the wages that you may lose because of your injuries, a death benefit (up to $5,000) available in case you die in the crash and 80% of the overall reasonable recorded medical expenses. However, do keep in mind that the value of the losses triggered by an accident could very well exceed the minimum coverages required in the state of Florida; in this worst-case scenario, you would have to pay the difference out of your own pocket. For example, $10,000 may not be enough to replace all the goods that you may destroy in a collision (one or more vehicles, buildings, fences and so on).
Next, you should also know that financed RVs demand full coverage for a very simple reason: lenders are always determined to protect their investment; therefore, full coverage would enable them to be reimbursed on their loan in the event of a significant loss. Generally speaking, lender-purchased insurance policies are not always the most convenient option at hand, because they come with no liability and bigger premiums. Rental RVs also require an insurance policy. Your RV rental company will either offer you the chance to buy this type of insurance or include it automatically in the rental agreement.
RV Insurance Rates Are Influenced by a Wide Range of Factors
Wondering what are the main elements that could dictate the value of your insurance rates? Storage linked to increased wind and water damage risks, past claims, driving history, policy discounts available for owners who buy multiple types of insurance policies (life, homeowner’s and auto insurance for instance) from the same carrier and deductibles are only a few factors that influence the total amount of money that you will spend on a monthly basis on RV insurance in West Palm Beach. Higher deductibles lead to lower monthly payments, but could also force you to cope with greater expenses after filing a claim.
Furthermore, note that members of certain RV associations may be eligible for additional discounts. Last but not least, remember that there are different types of insurance policies available for people who use their RVs every once in a while (recreational use) and on a regular basis (fulltime use). Naturally, those who use their RVs fulltime will spend more on their policy than the ones who only take their recreational vehicles out of the parking lot on weekends.
Getting Auto Quotes in West Palm Beach Has Never Been Easier
A policy brought to you by AC Insurance Services helps you benefit from the level of coverage that you actually need to feel safe and comfortable at all times. When buying RV insurance in West Palm Beach from us, you invest in a wide range of essentials, including Full Timer’s, Vacation Liability, Emergency Expense and more. We speak English & Spanish and we work around the clock to help you purchase the insurance policy that makes more sense to you. Land on our website, get auto quotes in West Palm Beach with a few clicks and protect the personal effects that matter to you the most.