Hit the Road, Summer Safety Part 3
Mary Thompson, Capstone President, August 20, 2015
Many Americans will take to the road this summer to explore nature’s beauty. Traveling by Recreational Vehicles (RV) has been a very popular activity that dates back to the early 1800’s. Owning a RV or motor home is like having a home away on wheels, travel possibilities become endless. Before you take to the road make sure your insurance policy is up to date and accurate. Ensure coverage in the event of an incident involving your RV and other land vehicles like ATV’s, Dirt Bikes Etc.
Recreational Vehicle Coverage
RV’s require specialized insurance coverage because they are a unique way to experience life on the road. A BIG misconception is that a RV is covered properly by their Homeowner’s or Automobile Policy. In many cases, you can add coverage to your policy but it may also be helpful and less expensive to have additional or separate coverage.
States require minimum liability coverage. The minimum is really to protect other drivers damages not the owner at fault. So just because you have the minimum needed to drive your RV it isn’t always enough to cover damage to your RV. Much like your standard minimum automobile coverage will not always cover everything that can happen on the road especially if you are at fault. It becomes even more important to be protected in your RV because they tend to be more expensive to fix and even harder to navigate on the open road putting RV drivers at high risk of accident occurrence. Recreational vehicles have unique insurance needs because they are combination vehicle and home.
Umbrella Coverage
In addition to driving legally when operating your RV, you may want to purchase additional liability coverage, such as an umbrella insurance policy, to ensure you have sufficient coverage. Having an umbrella policy in place comes with many added benefits such as added protection to cover you where the minimum requirements may fall short.
Other Types of Land Vehicles
Other vehicles such as ATV, Dun Buggies, etc. may require additional insurance. Some homeowner’s policies will cover an ATV but only when the homeowner drives it and they are made aware in advance that an ATV needs to be added to the policy as an additional risk. Another way an ATV can be added to an existing insurance policy is if you have a motorcycle policy If neither of these options will work getting separate coverage is possible under an ATV policy, often for minimal cost. One thing to also keep in mind is that any customizations to your ATV should be communicated to the insurance company to be sure the after market add-ons are covered as well as other drivers.
It is important to maintain coverage even when the recreational vehicle is parked. There are different levels of coverage as with any insurance so it is always best to discuss with your broker or agent to be sure you are properly covered.
