RVers are great at saving money when it comes to finding the right campgrounds, planning trips, and on necessities like food and gas. But there is one monthly cost that many RVers may not know how to go about lowering: RV insurance. Luckily, there are plenty of ways to save on your coverage. Read on for some tips to help you lower your rate.
Ask About Discounts
A lot of insurance companies offer discounts, which can help you lock in a lower premium. These discounts may include those given for having no recent claims, having a safe driving record, taking an RV safety course, or having continuous RV coverage.
Bundle Your Policies
An easy way to lower your rate is to bundle your RV coverage with any other coverages you may have, such as home, auto, or umbrella policies. Most providers will offer a discount to those who choose to bundle.
Pay in Full
When you pay your annual or biannual premium up front and in full, many providers will apply an automatic discount. When you go this route, there is also the benefit of not having to worry about taking care of a monthly payment while you’re on the road.
Shop Around
Don't be afraid to shop with many carriers when first purchasing your RV, or during your renewal period. Obtaining multiple quotes from various insurance carriers can help you find the best rate for your RV.
Consider Higher Deductibles
Opting for a higher deductible can lower your premium, but make sure you can afford to pay the out-of-pocket amount that will be required, should you need to file a claim. If you know your RV will be in storage for a long period of time, you should review your coverages and consider increasing your deductible.
Choosing the Right Coverage
Review your coverage options carefully and select what you need. Ensure the coverages you select fit your RV and the travel plans you have in mind.
Maintain Your RV
Taking proper care of your RV can help prevent accidents and reduce insurance claims. It’s important to regularly inspect and service your RV to keep it in good shape. Doing so may result in lower insurance rates over time.
Winterize Your RV
How you take care of your RV in the off-season matters, too. You’ll want to do everything you can to prevent water damage from happening, both to the inside and outside of your vehicle, while it’s in storage during the winter. Look online for steps you can take to winterize your RV, to reduce the risk of having to file a claim in the spring. Having fewer filed claims will help keep your rate down.
Downsize Your Ride
The more your RV is worth, the more you’re likely to pay for coverage. If you find you aren’t using your RV as often as planned, or it has more space than you need, consider downsizing to a smaller vehicle to lower your rate.
Upgrade Safety Features
Similarly to your car, the more safety features you have in your RV, the more likely you are to qualify for an insurance discount. Think items like security systems, anti-theft devices, digital locks, alarms, and other safety features. They are good to have for peace of mind, regardless.
As you can see, there are many ways to go about saving on your RV’s monthly premium. The first step is to speak with your insurance carrier and ask them about potential ways to reduce your rate. You may be pleasantly surprised by what you find!
