Investing in an RV is a great idea for cutting living expenses, but you must also consider getting adequate RV insurance in Florida. Since RVs are made for traveling, you should be aware of the insurance regulations of the states you plan to visit. Here are important facts you need to know about RV insurance in Florida.
Types of RV Insurance Coverage in Florida
Getting RV insurance in Florida is not the same as getting regular car insurance. An RV is like a home on wheels, so it has other risks. RV insurance covers motorhomes, 5th wheels, hybrid trailers, and similar vehicles classified as RVs. A standard RV insurance plan covers the following:
- Bodily injury – Pays for injuries sustained in accidents where you are at fault
- Collision – Covers repair costs for your own vehicle regardless of whose fault it was
- Comprehensive – Pays for repairs to your RV from damage that did not involve an accident, such as vandalism, fire, or falling objects
- Medical bills – Pays for medical expenses for you or your passengers regardless of who is at fault
- Property damage – If you cause damage to another person’s vehicle or property, this coverage pays for it
- Underinsured – Pays for loss incurred in accidents where the other driver lacks adequate insurance
- Uninsured – Covers damage to your vehicle and injuries to you and your passengers if the other driver is uninsured
Additionally, there are several optional RV plans available.
- Contents coverage: Pays for contents within the vehicle that are damaged by a named peril
- Roadside assistance: A coverage that you may find necessary for long road trips and includes towing, tire changes, and jumpstarts
- Emergency expenses: Covers alternate accommodation arrangements
- Vacation liability: Covers third-party injuries within your RV at a campsite
- Safety glass: If your windshield gets damaged by flying rocks or debris, this coverage covers the replacement cost
RV Coverages You Need to Live in Your RV Full-Time
Many retirees decide to live in their RVs and go on long road trips. If you plan on living in your RV, you should consider adding the following types of coverage:
- Personal liability: Covers third-party injury or damage to property in an accident in your RV or at the campsite, where you are held responsible
- Medical payments: Covers expenses if someone gets ill or hurt while in your trailer at a campsite
- Loss coverage: Covers the cost if you cause damage to a campsite
Average Cost of RV Insurance
The cost of RV insurance in Florida comes down to various factors, including how often you use your RV and its classification. A Class A RV, for example, typically costs $1,000-1,300 per year, whereas a Class C is cheaper, and 5th wheels cost even less. Class B RVs encompass a variety of sizes and usually require custom quotes. The average cost to insure an RV is between $500 to $850, making its monthly payments range from $40 to $75.
How to Lower Your RV Insurance Rates?
There are several ways to lower RV insurance costs. One of the best ways to cut costs is to have a clean driving record and an insurance history free of any claims. Talk with your insurance agent to find out about further discounts that may not be publicized. Explain what you intend to use your RV for so the agent can inform you of your options.