Recreational vehicles need a special form of insurance separate from regular automobile policies. Insurance for RVs at times is considered hybrid, in between homeowners and auto insurance.
Those who use their RV for vacations as well as those who permanently reside in their RV need insurance. This coverage even includes theft for belongings claimed inside the vehicle, working quite like homeowners coverage.
If a driver causes an accident or destroys property, liability insurance will cover bodily injury and property damage. RV insurance may also insure injuries that occur in and around the RV when parked.
Specifically for RVs, collision and comprehensive coverage can be useful in case of total loss. Majority of RV policies have three types of coverage including market value, which is agreed upon value and replacement cost. Basically, if total loss occurs, the policy holder gets the market value or amount agreed upon with the insurance company at the time the policy was bought, or the evaluated amount it would be to replace the vehicle.
RVs can also have vacation protection. In the event a vehicle breaks down, insurance will cover the cost of a hotel or other lodging, transportation costs and even car rental fees.
Recreational vehicles include ATV and golf care insurance. These policies may cover the transport trailer, safety apparel, parts and accessories, collision coverage and increased limits on liability.
Added benefits of recreational vehicle insurance include a storage option, which suspends the coverage for months the RV is not on the road but protects it from fire and theft. Full replacement coverage against depreciation and full-time coverage is suited for those who generally live in their RV.