Navigators Insurance Brokers can provide you with affordable trailers insurance protection for recreation vehicles (RV) such as motorhomes and campers. Imagine the freedom from worry when you hit the open road, spend weekends in your RV, and explore new places in your luxury, live-in vehicle. Just like insuring your car, trailers insurance is mandatory in Ontario. Navigators can design a trailers insurance policy to protect a wide variety of recreational vehicles, such as:
- Travel Homes
- 5th Wheel
- Tent Campers
- Truck Campers
- Single Room Campers
If you are able to sleep in it and drive it away, there is a trailer insurance product that will fit your needs and cover trips throughout Canada and travels into the US and Mexico.
How is Trailer Insurance Calculated?
Just like any vehicle policy, there are a number of factors that can have an effect on the cost of and accessibility to trailer insurance. Being claims free and having a safe driving record with no tickets, convictions or suspensions is a sure-fire bonus for insuring your RV. As well, bundling your policy together with your home, life and auto policies can garner additional savings. Because trailer insurance addresses other issues due the nature of how it is used, there are some specified concerns that you should examine.
- How often you drive your RV? Someone who travels part-time has less liability issues than a retired couple who lives in/drives their motorhome full-time. Insurers generally set the definition of “full time” as more than five or six months in a year. But did you know that if you live in an RV year-round, you can get special coverage, similar to a homeowner’s policy. Because your RV is also your home, there are specific packages that can cover you completely against the same risks assumed by your home policy. Be covered in the event of: fire, theft, hailstorm, wind damage, flying debris, falling trees, etc.
- Larger recreational vehicles are more expensive to insure because they can potentially cause more damage to another vehicle. For this reason, you need a comprehensive motorhome and trailer insurance package that protects you from personal liability suits brought against you due to minor and major injury, death and therapy or rehabilitation costs needed by the injured parties. These limits should be kept higher to protect your personal assets. Think of your RV almost as if it were a commercial-sized vehicle and consider the amount of risk and protection a bus or trucking company would have to address exposure to lawsuits.
- Highly customized vehicles can be more expensive to repair and therefore more costly to insure. Just as if you had added “betterments” to your home or condo, your RV can also be improved. Be certain that a proper assessment is done to determine the most recent value of your motorhome.
- You most likely keep more valuables in an RV than in your car/truck, so you need a higher personal property limit. Consider the cost of replacing items such as: furnishings, fixtures, jewellery, appliances, etc. Your RV is like a home – so insure it accordingly. As well, keep a detailed inventory of items. This can be a simple spreadsheet list that shows information that your claims adjuster will require. Keep track of: serial numbers, receipts, estimated value, etc.
- Motorhomes come with unique, permanent attachments and accessories (for example, awnings, satellite dishes, antennas) that need to be insured. Keep an inventory of all attachments, including their value, purchase receipts proving ownership and even pictures of the items to help adjusters if something should happen.
- Motorhome and trailer insurance coverage could vary depending on which country you are driving through in your RV. For example, you’ll want to check your RV policy before you motor into Mexico.
- The cost of replacing a stolen or damaged RV is much higher than the average car or truck. So don’t be surprised by the difference in premium. But consider that an RV is more like a home than a car. In this case, you will discover that your trailer insurance premium is far less than a homeowners policy and covers the same risk and perils that simply don’t exist for average cars or trucks.
- If there are months when your camper is parked and not being used, you may wish to take advantage of a “storage option” that lets you cut your trailer insurance premium by suspending liability and collision coverages. But not to worry, because comprehensive coverage stays in effect to protect you against threats like: theft, wind, fire or storms when your RV is stored.