Insurance Rates - Factors that Influence Them and How to Get a Better
RV insurance rates are affected by many of the same factors that influence automobile insurance rates. For instance, the owner's age and driving record are considered when an insurance underwriter determines the risk for that driver. However, there are also some factors unique to motor homes that come into play when setting insurance rates for them. These include where an RV is stored between trips and how many days out of the year the RV is used.
These are the factors that affect all vehicle insurance rates. Chief among them are driving record (tickets, accidents, etc.) and the driver's age. Generally, the older drivers are the more insurance companies deem them to be low risk. So, all other things being equal, a 25-year-old RV owner will have higher RV insurance rates than a 55-year-old. And just like for cars, the make, model, age and condition of the RV all affect rates. Companies may also offer discounts for multiple policies, higher deductibles, and home ownership, as they commonly do for auto insurance.
The two biggest influences on RV insurance rates are the amount the RV is used and where it is stored when not in use. If an RV is used only for recreation (occasional weekends and a summer vacation), then less coverage is needed than if it's used full-time. When an RV is also a full-time home you need more personal property and liability coverage, resulting in higher rates. Where an RV is stored plays a role because insurance companies worry about the security of the facility. An enclosed, locked, and guarded location will lower rates, while an outdoor and unguarded spot will mean increased risk and hence higher rates.
While the discounts noted above will apply for most RV insurance rates, there are additional discounts just for RVs. Membership in an RV owners association, such as the Good Sam Club, will often get you a lower rate, as will previous RV experience or ownership. These indicate that you have an interest in maintaining your RV and lifestyle, and will likely be a careful driver and owner.