Your RV / travel trailer is your home away from home and requires a tailored insurance package to fit your needs. With the camping season upon us we wanted to provide you the top 8 ways you can save on your RV and Travel Trailer insurance.
- Increase your deductible
A deductible is the portion you will be required to pay in the event of an insurance claim, by increasing the deductible on your policy you will lower your insurance premium, or the amount you pay annually. Vice versa, a lower deductible will increase your insurance premium.
However, before increasing your deductible it is important to remember that you will be required to pay the deductible in full if an accident occurs and a claim needs to be paid. So, before determining the deductible amount make sure it is something you will be comfortable paying.
- Make sure your travel trailer or RV is updated and well maintained
Annual maintenance is critical on all travel trailers and RVs. Proper weather sealing of the unit will provide the best protection. As any loss caused by poor or unmaintained units will not be covered by insurance. Insurance is not designed as a maintenance plan, and travel trailers and RVs that are not serviced annually to protect from water damage are at high risk of an uninsured loss.
- Avoid using your insurance for small claims
Your insurance policy is your protection when an accident occurs. Sometimes making a small claim will negatively impact you more in the long run then paying out of pocket for small claims. Things you may want to consider before making an insurance claim:
- If the cost of the repairs is equal or less, then your insurance deductible.
- You may lose your claims free discount, which can increase your premium 10-20%. So, you will need to feel comfortable knowing the repercussions are worth the settlement. If your travel trailer is insured on your home policy, this can cause an increase to your home insurance premium.
- Decide what type of insurance you want and need
We are here to provide you with expert advice to ensure you have the right insurance coverage to fit your needs. Many insurance companies will have upgrades to their policies—some of which are helpful and some of which you don’t need. For example, enhanced water coverage and replacement cost coverage can save you in the long term, however for an older travel trailer, the cost of replacement or all-risk coverage should be considered. If you have any questions or are looking for advice, please reach out to us!
- Consider permanently parking your RV/ travel trailer
Many insurance companies provide discounts if your travel trailer or RV is permanently parked. The key is that the unit is permanently parked at a secure campground/site, which significantly reduces the risk of accidents.
- Calculate RV annual km usage
If you are set to see the country in your RV, your premiums will be higher than someone who parks their RV for most of the year. Insurance premiums are often calculated by the annual km usage; this is because the likelihood of accidents and other road mishaps increases the risk factor associated with the RV or travel trailer.
- Find a group insurance program
Members of Munn Insurance Preferred Groups are able to take advantage of special discounts and many extra-valuable benefits. To learn more about our group programs and see if you qualify visit www.munninsurance.com/group/.
- Shop your insurance with an insurance broker
To get affordable travel trailer insurance quotes, contact an insurance broker, like us. One of our local agents can shop your unique needs at multiple insurance companies, provide a number of quotes for you to review, and answer all of your questions.
If you want to spend more time in the woods relaxing and less time worrying about your insurance coverage, contact us!
At Munn Insurance, we have multiple insurance markets to suit your needs and together we can make your insurance less complicated!