Camping and traveling in a recreational vehicle is a popular pastime for many people in Nevada. In fact, residents of the Silver State spend more than $92 million a year just on RV sales and services. If you own a recreational vehicle, you can benefit from having a good RV insurance policy.
Independent agents in Nevada can shop around to find you a solid and reliable policy at a competitive price. Talk to an independent insurance agent near you to get more information and start comparing customized RV insurance quotes.
How Much Does RV Insurance Cost in Nevada?
If you are new to the RV lifestyle, you may be wondering if RV insurance is expensive. Depending on the type of recreational vehicle you own and the types of coverage you want, RV insurance costs can range from a few hundred to a few thousand dollars a year. Rates depend on several factors such as:
- Whether your RV is a motorized vehicle or a trailer
- Your RV’s type, class, length, weight, and assessed value
- How much coverage you need for the personal property in your RV
- How much liability coverage you want to buy
- How often and how far you plan to drive your RV per year
- How much time you plan to spend living in your RV per year
- Your driving record and insurance claims history
- Which, if any, coverage options you want to include in your policy
As you may suspect, a large, motorized RV like a class A motor home will cost much more to insure than a towable like a teardrop camper. Also, full-time RVers typically spend much more on coverage than people who only take their recreational vehicles out on weekends or once or twice a year for vacations.
Is RV Insurance Required in Nevada?
If your RV is a non-motorized towable, such as a fifth wheel or a travel trailer, you are not required by Nevada state law to have RV insurance. Instead, you can cover your camper with a trailer insurance endorsement on the insurance policy of the vehicle that will be used to tow it.
However, if your RV is a self-propelled, motorized vehicle like a motor home or a camper van, you will be required to cover it with an RV insurance policy that meets or exceeds the state’s minimum coverage requirements.
Also, if you have financed your RV and are still paying for it, your lender is likely to require you to carry coverage against physical damage.
What Are the Minimum Coverage Requirements for RVs in Nevada?
A minimum-coverage policy for a motorized RV will provide you only with auto liability insurance, because this is the only coverage required by law. RV liability insurance is designed to pay for other people’s medical bills and property damage if you are at fault for a collision.
At a minimum, your RV insurance policy must include at least:
- $25,000 in bodily injury liability coverage per person
- $50,000 in bodily injury liability coverage per accident
- $20,000 in property damage liability coverage per accident
Additionally, if you financed your RV and are still making payments, you will be required by your lender to include physical damage coverage in your RV insurance policy.
Even if you own your RV outright and physical damage coverage isn’t required, you can benefit from having it, since most recreational vehicles are expensive. Physical damage insurance is designed to pay for loss or damage to your RV. It includes:
- Collision insurance: This covers the cost to repair or replace your RV if it is damaged or totaled in a collision, regardless of fault.
- Comprehensive insurance: This covers the cost to repair or replace your RV if it is damaged or totaled by a non-collision hazard like a hailstorm or theft.
As you can see, a basic policy provides coverage for your RV whenever it is being used as a vehicle, but it does not offer all the coverage full-time RV owners need. Fortunately, insurance companies offer a variety of options you can include as you build a customized policy that meets all your coverage needs.
What Other Kinds of Coverage Can an RV Insurance Policy Provide in Nevada?
RV insurance is a mixture of required and optional coverage. A good policy will include all the coverage needed to protect your property and finances whether you are using your RV as a home or a vehicle when problems arise.
There are a number of coverage options you may want to include in your RV insurance policy. Whether you are a full-time RV user or you just use your recreational vehicle once in a while, there are options that are right for you. These can include:
- Personal liability insurance: Most full-time RV users do not have personal liability coverage through a home or renters insurance policy, so they can benefit from this coverage. It can cover legal fees, settlements, judgments, and other damages if you or someone in your household is unintentionally responsible for harm to others.
- Vacation liability insurance: This can benefit full-time and part-time RV users alike. It is designed to supplement your personal liability insurance by providing extra liability coverage if you are responsible for property damage or injuries while you are staying at an RV park.
- Contents insurance: This is particularly important for full-time RV users who keep most of their valuable possessions in their vehicles. It can cover the cost of repairing or replacing your belongings if they are lost or damaged because of a covered event like a burglary, fire, or severe weather event.
- Equipment and accessory coverage: This can cover loss or damage to added accessories like satellite dishes, awnings, and navigation systems.
- Storage facility coverage: This can cover any personal belongings you may keep in a storage facility while you are enjoying your time traveling.
- Towing and roadside assistance: RVs require specialized towing and service if they break down while you’re out on the road. This can cover the cost of a service call and tow to a nearby garage.
It is a good idea to review all offered coverage options and their costs so you can make an informed decision about which optional coverage is a good fit for you and your family.
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What is RV Gap Insurance in Nevada?
A luxury Class A motor home can set you back a lot of money, and even Class B and Class C motor homes aren't cheap. Provided your RV insurance policy includes physical damage coverage, if your recreational vehicle is totaled in a collision, fire, or severe weather event, you can be reimbursed for its actual value just prior to the incident.
The problem, for many who have financed the purchase of their RV, is that these vehicles often depreciate faster than the principal on the loan payment decreases during the early stages of making payments.
This means that if your RV is totaled in the first couple of years after your purchase, you may end up still owing more for it than your insurance company will reimburse you. This can leave you making payments on a vehicle you no longer have.
RV gap insurance solves this problem by bridging the gap between what you owe and what the RV is worth so that your loan can be paid off in full.
Nevada Health Insurance for Full-Time RVers
Without health insurance, an unexpected illness or injury can set you back financially. These setbacks may be significant enough to potentially drive you into bankruptcy. A good healthcare policy can help you protect your finances and assets by providing the coverage you need.
If you do not currently have a policy and are looking to buy one on the open market, an independent agent can help. These agents can match you up with insurers who offer competitively priced coverage that is suitable to help you and your family no matter where in the US you may be traveling in your RV.
If you already have health insurance coverage but you plan to take your RV into Canada or Mexico, your agent can help you be certain you will have the coverage you need if you must seek medical care while out of the country.
What are the Best Insurance Companies in Nevada?
You will want to be sure that whichever RV insurance policy you choose is one that provides all the coverage you need at a competitive price. You can do this by requesting customized quotes from a few different insurance providers and comparing what they have to offer.
Independent insurance agents can save you time and money by doing the comparison shopping for you. These agents have relationships with some of the best RV insurance companies in Nevada, so you can be sure that any policies they recommend are offered by trustworthy providers.
Why Shop RV Insurance with a Nevada Independent Insurance Agent?
When you are shopping for any kind of insurance policy, local independent agents can help. These experienced agents can explain your various coverage options, answer your insurance-related questions, and provide you with a selection of customized quotes that you can review and compare together.
Discover the many benefits of having an experienced insurance professional on your side. Independent insurance agents have offices all over the US, so it should be easy to find an agent nearby no matter where your RV takes you.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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