Get Your Motor Home Insurance Right!Motor home insurance is as important to consider, as any other aspect of your motor home. How much you need may seem to be a difficult question, but with a little thought, and some honest appraisals you will be able to make the choice that is right for your situation. A motor home is a very large purchase, one that should be insured against loss or damage. Motor home insurance is a must. When determining the insured value of your motorhome, be thorough and honest. The first step in setting the value for motor home insurance is to make a financial profile of the motor home. How much did it cost? How much financing does it still carry? What will it cost to replace it? Your motor home insurance payout should be enough to pay off the loan on the motor home, with enough left over for a down payment on the replacement. If your motor home is paid off, so much the better. Negotiate a payout value that will cover the full replacement costs should the motor home become a total loss. If you want to save on payments, you can adjust your payout to a portion of the replacement cost, as long as you are willing to finance the balance if you should need to start over. Motor home insurance not only covers the vehicle, but it's contents as well. Your financial profile should also include the kind of things that you tend to carry along. These can include appliances, music and home theater systems, satellite radio and TV, and personal vehicles like dirt bikes, ATVs and other recreational items. Remember that in the case of a total loss situation, these items will need to be replaced as well. If you are bringing any high value items on a specific trip, consider asking your agent for a rider to cover the additional risk. Motor home insurance must also cover liabilities. The state mandated minimum payout value is usually higher than automobile minimums. This make sense, since most RVs and motor homes are much bigger and potentially more dangerous in an accident than a car. But don't forget, the liability is not only outward, but inward as well. In an accident, the driver an passengers are at risk as much as the other people on the road. Without proper motor home insurance, the cost of treating the resulting injuries could be a problem, even if the victims are all members of your family. If you have guests, and many motor home enthusiasts love to have guests along, the risk is that much higher. Here again a rider on your motor home insurance policy can help protect you if anything unfortunate should occur. Finding the right company for your motor home insurance is not a big problem. Nearly all of the major carriers handle these types of policies, so chances are the company that covers you home and auto can hook you up. Just make sure that your agent understands about this type of instrument. Otherwise, consider a different agency with more motor home insurance experience. Another option is to ask your agent to split the policy with someone else in the firm with more motor home insurance knowledge. Most good agents will be willing to make this adjustment. Don't try to skimp on you motor home insurance. The risks are just too high. If you can't afford adequate coverage, then you probably chose a motor home or RV that is too much for your present budget. Consider trading down to a less expensive model with lower insurance coverage premiums. |