Q: Peter, my wife and are thinking about buying an RV, but we're holding on to our house and car for now. Do we need additional insurance or is our auto insurance enough?
A: Jordan, that sounds like a great experience, and I'm glad you're thinking about all the logistics before driving off into the sunset.
There are a couple of options when it comes to insuring recreational vehicles. While it's true that your auto or home insurance can cover you, it's generally a good idea to purchase a specialized policy simply based on the special circumstances of an RV. These are large vehicles that can be subject to a lot of wear and tear, and maintenance can be very expensive.
RV insurance is often arranged through an RV dealer or lender, since these specialized insurers understand how these vehicles are built and used.
RV insurance normally includes furnishings, fixtures, appliances and personal items, whereas car insurance may not provide this protection. Coverage for your personal belongings is another biggie in any protection plan, but auto insurers may offer limited coverage within their RV policies. However, many RV policies will allow you to set the limit of coverage for your belongings so you can insure as many or as few items in your vehicle as you like.
Here are other types of coverage to ask about:
Collision and Personal Liability
This coverage is a must since it can help cover the cost of damages if you find yourself in an accident. Also, having personal liability is a good idea in case someone is injured in your vehicle, or even in your camp spot.