RV Insurance Requirements
- RV insurance requirements are determined by many factors.rv, image by Greg Pickens from Fotolia.com
Recreational vehicles are motor vehicles equipped with living space and amenities found in a home, such as a kitchen, bathroom and bedroom. The insurance required for RVs is determined by many factors, such as the state the owner resides in, whether the RV has a loan on it or is paid off, the size of the RV and the deductible the RV owner wishes to carry on the vehicle. - All RVs must have the minimum insurance required by the state the owner resides in, but an RV owner can have more than the minimum required. The RV owner must carry full coverage insurance if the owner has a loan on the RV from a bank or loan agency. The amount of full coverage insurance is determined by the value of the RV and the deductible the owner wishes to carry on the policy. The deductible is the amount of money the owner is responsible for before the insurance company pays any amount for damages.
- Each state also has different RV insurance requirements depending upon the size of the RV. The larger the RV, the more damage the RV can inflict on other motor vehicles. This liability requires the RV owner to carry a higher minimum of liability insurance than is required by an automobile owner. An RV that has been customized costs more to repair, so the RV owner must also take this into consideration.
- Each state has different RV insurance requirements just like the state requirement for an automobile. The RV owner can contact the state's Department of Motor Vehicles to find out what that particular state's minimum insurance requirements. For example, the State of Missouri requires an RV owner to carry liability insurance valued at $25,000 per passenger, $50,000 per person for personal injury and a minimum liability insurance of $10,000 for property damage. Each state also has penalties that can be imposed if the RV owner does not carry the minimum insurance requirement on their vehicle.
