5 Minute Guide to Buying Canada Recreational Vehicle Insurance
Recreational vehicles have become very popular in Canada. In the past, RVs were used mainly to travel around the country. Today, many people also use RVs as homes.
There are different types of recreational vehicles – truck camper, camper trailer, camper van, hybrid recreational trailer, motor home, mobile home, fifth wheel travel trailer, or tent trailer. They can be driven, parked, or towed.
No matter what type of RV you own, your recreational vehicle must have proper RV insurance coverage.
Reasons to Get RV Insurance
When you invest in a recreational vehicle, you want assurance that you are safe and your investment is secure. Because the lifestyle of an RV owner puts him on the road frequently, it is critical to plan for the unexpected.
Recreational vehicle insurance is designed to provide protection to you and your family from losses in case of an unforeseen event. People generally buy an RV for pleasure but their function has also evolved over time.
As an RV is a motorhome with living quarters, it can be used as permanent accommodations or for vacations. Motorized recreational vehicles can be included with an auto insurance policy but basic coverage would not cover certain situations that are unique to mobile dwellings. For this reason, specialized insurance for RVs is highly advisable.
In most provinces, owning an RV, whether for personal or commercial use, requires having liability insurance and property and casualty insurance in place.
When getting a license for a recreational vehicle in Quebec, it must be assigned a category by the Société de l’assurance automobile du Québec (SAAQ).
Depending on the type of RV you have, its weight, location, and type of use (personal or commercial), you will need certain types of coverage such as accident benefits, third party liability, comprehensive or collision coverage, property damage coverage, and medical coverage.
RV Insurance – What does it Cover?
Your RV most certainly didn’t come at a cheap price. You wouldn’t want to pay for repairs for a wrecked RV or a stolen RV while you are still making your monthly payments to a lender. If you have RV insurance will full replacement coverage, you wouldn’t have sleepless nights about that.
RV insurance is not just like auto insurance because it has unique features tailored for RVs.
Some of these most important features include:
- Collision
- Uninsured and Underinsured motorist protection
- Property Damage liability
- Personal liability
- Personal injury protection
- Full replacement coverage
- Emergency expense coverage in case of a claim
- Personal Belongings coverage
- Roadside assistance
Roadside assistance is an invaluable service that gives you complete peace of mind. If anything should happen while you are on the road, you can get help with towing, tire replacement, gas delivery, and more. Major insurers provide roadside assistance within Canada and the USA.
You can avoid out-of-pocket expenses when you are on the road with the right RV insurance.
Peace of Mind in Living the RV Lifestyle
The idea of being able to pick-up and leave, go anywhere you want, and not be tied to any place is very appealing to a lot of people. Imagine never having to worry about a typhoon coming, worsening crime rates, and anything else that normally upsets a resident about his neighborhood. You can simply turn on the ignition and go somewhere else without worrying about going through escrow.
Yes, the lifestyle of an RVer, temporary or permanent, certainly has many attractions. But it also comes with certain risks.
- It can be easier for burglars to break into your motor home, steal everything you own, and even take off with your RV.
- Nobody may be near enough to help if you scream your lungs out in the event of trouble.
- Driving long distance, especially in a huge rig, always carries the risk of an accident happening.
- You can get stuck in the middle of nowhere if your RV breaks down due to mechanical trouble.
Because of this unique lifestyle, it is important to take safety precautions while on the road. Mobility can come with a few surprises but RV insurance will help ensure you don’t sustain any heavy losses.
RV insurance can also provide you with great options such as:
- ✓ Full Timer Liability – protection for those who live in their RV permanently
- ✓ Campsite liability – protection for vacationers
- ✓ Higher limits – provides higher level of liability coverage considering that most RVs are large and can cause significant damage
- ✓ Storage options – allows you to suspend collision coverage when your RV is not in use for some time. This helps you to save on your premiums. This option is not available in a standard auto insurance policy.
Visit Go RVing Canada to learn more about the RV lifestyle, gets tips about campgrounds, and other frequently asked questions.
How Much Does RV Insurance Cost?
The cost of RV insurance may vary from province to province. In Canada, some provinces are known to have higher insurance rates compared to other provinces. Quebec province is considered to have generally lower rates for auto insurance and RV insurance.
There are factors used to calculate the cost of your RV insurance premium, much in the same way as how auto insurance works.
Insurance companies use the following factors to calculate premiums for RV insurance:
1. The type of motorhome
There are various kinds of motorhomes and it is quite difficult to state an average cost without considering the make and model of the RV. The more expensive models would obviously have higher premiums.
2. Condition and Age of the RV
The value of your RV is also calculated based on wear and tear. This value affects the rate of your insurance.
3. Driver’s Experience with RVs
Driving an RV is more difficult than a regular automobile. The more experience you have in driving RVs, the less risk you pose to the insurer. In turn, you may qualify for lower premiums.
4. Driving History
Your driving record, whether or not you have been involved in traffic violations and accidents, have a huge impact on your insurance rate.
5. Location
Do you live in a mountainous terrain or in an area prone to severe weather disturbances: Is there a high crime rate such as for auto thefts and break-ins in your area? This information will be used in calculating your insurance rate.
6. Where you travel
Where you travel with your RV has a big impact on your insurance cost. If you only use the RV occasionally, you have fewer risks. If you live in your RV full-time and travel a long way, you have more risks while traveling thousands of miles.
7. Frequency of Travel
If you live and travel in your motor home full-time, you can expect higher RV insurance rates for 2 reasons. You are more frequently on the road and have higher risks for accidents and the risk of home ownership is not based on a street address but rather on your RV.
8. Claims History
If you have filed claims from your insurance policy in the past, your insurance rate for your RV is likely to increase.
9. Type of RV insurance policy and amount of coverage
Lastly, the type of RV insurance policy and amount of coverage you choose will have a large influence on your insurance cost.
When shopping for RV insurance, you will be presented with several choices regarding the amount of liability and coverage for personal property.
Request a free insurance quote today to get the best rate for protection of your RV and your belongings.
Most Common Mistakes with RV Insurance
Many people make mistakes based on misconceptions about insurance needs and products. RV insurance is no exception.
Below are some common mistakes RV owners make about recreational vehicle insurance.
1. Relying on auto insurance for their RV.
RVs are more complicated than standard cars and have unique risks that aren’t covered by standard auto insurance. RV owners have belongings inside their motorhome that you don’t normally find in a car. They also travel more frequently and live a lifestyle that requires expert assistance from their insurer.
2. Getting the Lowest Insurance Cost.
Price is always important when buying insurance but don’t forget that the quality of your coverage and features in your policy should suit your needs. You should compare the services and level of protection from RV insurance policies and not only the cost.
3. Not Using Available Discounts.
Many insurers offer discounts to policyholders for certain conditions such as no claims, excellent driving history, multiple-vehicle discount (auto and RV insurance under one insurance company), storage option, and installation of anti-theft devices.
Find out how you can qualify for potential discounts from your insurer.
4. Buying Insufficient Liability Coverage
Liability coverage protects you on the road in case you cause damage to property or injury to others. If you have inadequate liability coverage, you are exposed to significant financial losses for medical bills, lost wages, etc. It is best to go a bit over legally required limits to get the type of coverage that meets your personal circumstances.
5. Not Reviewing Insurance Before Renewal
Life brings many changes that also cause our needs to change. Before renewing your RV insurance, ensure that you review your changing needs and lifestyle. Have you gotten married and travel on your RV less frequently? Did you buy a new home?
Be sure to renew with the right level of coverage for your RV and update your insurer about any changes to your current situation.
Revisiting your RV insurance such as comparing free insurance quotes online will help you to find potential savings from RV insurance premiums.
Shop for RV Insurance with a Free Insurance Quote
Recreational vehicles are expensive. A good way to save money is to get the best value from RV insurance.
We offer you a convenient and easy way to check out the rate for RV insurance so you can put some money back in your pocket from lower insurance premiums.
Fill-out our online request form and receive your free and no obligation quote from a leading insurer in Canada.
Our partner will compare for you prices, level of coverage, perks, and service quality – using the information you will send with this simple form.
Shopping for RV insurance has never been easier than this. So go ahead, get your free insurance quote and find the right RV insurance policy for your budget.
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