Start Saving Money Now
- Bundle your insurance policies
- Take a safe driving course
- Suspend collision coverage when the RV or motorhome is not in use
- Install safety accessories
- Look for group discounts
If you are an RV or motorhome owner, you’ve probably thought more than once about the cost of insuring your vehicle. You certainly want to protect your investment, but are there ways to save some money? The answer is “absolutely yes!” By considering the following advice, you’ll probably be surprised to learn how much money you can save.
Bundle Your Insurance Policies
If you own an auto, home, boat, or RV, chances are your insurance coverage is provided by multiple carriers. As the Recreational Vehicle Industry Association notes: “RV insurance can be arranged through the same carrier that you use to insure your automobile or home.” By combining these policies with one insurance company, you’ll be able to take advantage of a multi-policy discount. And, if you pay the policy premium in full, rather than going with an installment program, you’ll receive another discount (up to 10%), since you’re saving the insurer administrative and processing costs. In addition to saving money, you’ll benefit from an insurance program that’s easier to manage. If you need to change carriers to get the multi-policy coverage you need, remember to ask about sign-up incentives as well since insurance companies offer discounts to attract new customers.
Take a Safe Driving Course
Nothing affects your RV and motorhome insurance rates more than your driving record. You can expect to receive up to a 3% discount if you have an accident-free, clean driving record. Since RV’s and motorhomes are more challenging to drive than automobiles, many insurance companies offer a discount if you complete an approved driver safety course. These courses are typically offered by community colleges and your state’s motor vehicle administration.
Suspend Collision Coverage When the RV is Not in Use
You should always maintain liability insurance coverage when your RV or motorhome is in storage. You’ll often receive a lower rate if the vehicle is safely stored in a garage or enclosed area, protecting it from animals, storms, fires, and theft. But why pay for collision coverage if your RV is in storage for the winter months? Since it is legal to suspend coverage under those circumstances, most insurance companies allow you to temporarily discontinue collision coverage when your RV or motorhome is decommissioned. Take advantage of this! Depending upon how much you’re on the road, this can add up to significant savings.
Install Safety Accessories
Insurance companies look kindly upon accessories that make your RV or motorhome safer. Install an anti-theft device – a security alarm, or a steering wheel lock. Consider a fire suppression system for the vehicle’s engine or an LP gas protection system. Not only will you lower your premium cost, but you’ll also better protect yourself.
Look for Group Discounts
Do you belong to an RV club or approved association? Are you a senior citizen (over the age of 55 and not working full time)? Are you a current or former member of the military? A teacher? A healthcare professional? Insurance companies offer discounts to groups, and the list might surprise you. Remember to ask your insurance agent about group discounts.
Related Resource: 10 Best Cheap RV Insurance Companies 2017
Having RV or motorhome insurance is not a choice, it’s mandatory. But that doesn’t mean it has to be a significant expense. By using an agent, asking the right questions, and putting insurance companies in a position to compete for your business, you’re almost guaranteed to have a little more money to spend on your next travel adventure.