Best RV Insurance Companies: Cost & Coverage (2022)

2022-10-22 13:50:53 By : Ms. mila sun

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To determine the best recreational vehicle (RV) insurance companies in 2022, we at the Home Media reviews team conducted an in-depth study of the camper insurance industry and its top providers. While several insurers emerged as recommendable choices for RV coverage, we name Progressive our Editor’s Choice this year. Utv Covers

Best RV Insurance Companies: Cost & Coverage (2022)

In this round-up of the top camper insurance companies, we also take a look at some of the typical costs and coverages you’ll find. Discover more about RV insurance and see which other companies make our list of recommendations for 2022.

For our industry-wide study, we compared providers based on their industry reputation, availability, coverage selection, costs and customer service reputation. Progressive scored the highest in our study, but Good Sam, Geico, Nationwide, Allstate and State Farm also performed well.

Progressive beat out the other providers due primarily to its range of coverage options and discounts. Both show that the company understands the RV lifestyle and what RVers want from their insurance policy. Just like it does with its boat insurance , Progressive provides policyholders with truly useful specialty coverage options and savings opportunities.

The Good Sam Insurance Agency is a broker rather than a direct provider of RV insurance. The agency works with some of the most trusted names in the industry, including several on this list, to find the right coverage for its customers’ needs. Travelers looking to head south of the border should especially consider the company, as it’s one of only a few that specializes in RV coverage in Mexico.

While the provider offers a well-rounded portfolio of camper insurance products, Geico’s reputation for customer service across the greater insurance industry is what makes it stand out. With policies and add-ons that work well for both full-time RVers and recreational campers, most RVers can find what they need at Geico.

Nationwide offers a quality selection of coverage options for all RVers, but the company should be on the radar of any full-timer looking for camper insurance. With the options available, people who use their RV as their primary residence can find coverage for almost any situation. A good selection of discounts helps make that coverage even more affordable.

Allstate has one of the larger selections of coverage add-ons that we saw in our study, with great insurance options for both full-time and part-time RVers. The provider is one of several that includes RV coverage in its multi-policy discount, making it a good choice for bundling. With pet insurance included in standard policies, people who bring their furry friends camping or living with them will want to consider Allstate.

Although all RV policies are underwritten by Allstate, note that the company provides its RV coverage through National General, which is owned by Allstate.

As the country’s largest insurer, it’s no surprise that State Farm offers quality RV coverage. In every insurance category, the prevalence of in-person offices with helpful local insurance agents is one of the company’s biggest strengths. That’s also true when it comes to RV insurance. People who have other policies with State Farm or prefer to do insurance business in person will want to take a look at the company.

Insurance for RVs works more or less like most insurance products. You pay a premium in exchange for liability, property and medical coverage. In the event of a covered accident or other source of damage, your insurer will pay to cover costs related to the damage in accordance with the coverage and limits set in your policy.

The cost and specifics of your coverage depend largely on the type of RV you want to insure. There are several types of RVs, but they break down into two main categories: towables and drivables.

RVs in the towable category don’t have their own motor and instead need to be pulled by a towing vehicle. Towable RVs come in a wide range of sizes and trim levels and can vary widely in the number of features they include.

Here are the main types of towables:

Often called “self-propelled RVs,” drivable RVs are mounted onto a vehicle chassis with its own motor. The chassis can typically range from a passenger van chassis to a motor coach chassis.

Here are the main types of drivable RVs:

Based on our study, the average cost of RV insurance is around $1,500 per year. However, as you can imagine based on the range of camper sizes and costs, RV insurance premiums can vary greatly. You can expect to pay far more to cover a Class A motorhome, for example, than a teardrop trailer.

Insurance companies adjust rates to each individual based on several key variables about you and your RV. Here are some of the most important:

Any discounts that are applied to your policy will factor into the cost of RV insurance. Many of the discounts you’ll see for camper insurance will look familiar to auto and home insurance customers, but some are specific to the RV world.

These are some of the most common RV insurance discounts you’ll find:

As long as your coverage meets any minimum requirements that apply to you, you can build an RV policy to suit your needs. All insurers typically offer standard coverages, but most also offer at least a few specialty coverages that are unique to RV insurance.

Standard recreational vehicle coverages are nearly identical to those you’d find for auto insurance. These include:

Along with standard coverages, many insurers offer specialty add-ons that can help cover some of the other costs related to RVing. Here are some of the most common:

While you can purchase coverage for almost everything on your RV, there are some sources of damage most all insurers exclude. These include:

Some insurance policies may not cover damage from floods or earthquakes, but this varies by insurer, location and how often you use your RV.

If you have comprehensive coverage, your RV insurance should cover water damage. This includes damage from leaking fixtures, for example. A comprehensive RV policy also likely covers water damage from leaky window seals and awnings.

If damages to your RV are substantial enough, your insurer will declare it a total loss. Commonly known as getting totaled, this means your insurer takes possession of the camper and pays you for it. 

When it comes to RV insurance, there are three potential settlement options. These are:

Insurance for towable RVs is almost never mandated, but you’ll need at least the minimum auto insurance coverage required in your state if you have a self-propelled motorhome. However, there are more than enough reasons to purchase coverage for your well-used camper or a brand-new RV, even if it isn’t required.

Campers are intended for the road, meaning you’ll have to share the road with people driving cars, trucks and other vehicles. This puts you and your RV at risk of a traffic accident.

Data from the National Highway Traffic Safety Administration (NHTSA) shows that the number of crashes has been on the rise over the past several years. 

The data shows that the U.S. saw 6.76 million traffic accidents in 2019. This is a nearly 25% increase compared to 2010, less than a decade earlier. As the number of collisions on the road increases, your risk of getting into an accident goes up as well.

Although the most recent NHTSA data from 2020 indicates that accidents were down overall, these numbers coincide with a dramatic drop in vehicular traffic during that year. As a statistical outlier, we removed it from our analysis.

Traffic accidents are a real risk to your camper, but they’re not the only way they get damaged. These are some of the most common sources of RV damage:

Note that, for the most part, a comprehensive RV insurance policy will cover these damages. They won’t be covered by collision insurance.

Fire is one of the biggest risks for RV owners. From 2018 to 2020, an average of 4,200 RV fires were reported to fire departments each year in the U.S., according to data from the Federal Emergency Management Agency (FEMA). During that time, these fires resulted in an annual average of 125 injuries and 15 deaths.

Those fires were also expensive. Recreational vehicle fires accounted for an annual average of $60.3 million in property damage, or an average of $15,350 per fire. 

Unintentional fire damage to your camper will be covered under a typical comprehensive policy. However, if your RV catches fire and damages other property around it, you may need additional coverage such as vacation liability to cover those damages.

In our industry-wide study of the best RV insurance companies, Progressive earned the highest score and our Editor’s Choice award for 2022. Good Sam, Geico, Nationwide, Allstate and State Farm also scored highly in our study, offering strong combinations of quality coverage options and affordable costs.

Our team recommends getting RV insurance quotes from multiple providers and comparing them to see which company offers the best rates for you and your camper.

First and foremost, you’ll need to meet your state’s minimum auto insurance requirements. This is typically a combination of liability coverages and sometimes uninsured/underinsured motorist coverage. Beyond that, it’s generally a good idea to build a full coverage policy with collision and comprehensive coverage with limits at least equal to the value of your RV.

Our researchers found that the average RV insurance policy costs around $1,500 per year. However, this is a rough estimate as there are many factors that go into calculating an RV premium. This includes the cost of your RV, which can range from under $10,000 to well over a million dollars.

Maine, New Hampshire and Ohio are the states with the cheapest car insurance . That means they are likely to have some of the cheapest RV insurance for drivables as well.

Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best RV insurance companies. We collected data on dozens of camper insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, and the insurers that scored the most points top our list.

Here are the factors our ratings take into account:

*Data accurate at time of publication.

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Best RV Insurance Companies: Cost & Coverage (2022)

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