Driving an RV isn’t within everyone’s comfort zone. Maneuvering a large vehicle like that is different from driving a standard-sized car, or even a larger one, like a minivan.
But owning an RV comes with benefits. For one thing, an RV can be a car and hotel all in one, making it a good choice for a cross-country road trip, or a trip that involves multiple stops. And for travelers with pets, an RV can be a good choice, since many hotels don’t allow pets or charge exorbitant fees to allow them to stay.
But clearly, there’s a cost to owning an RV. And it’s not just the purchase price. There are additional costs that come with being an RV owner, from maintenance to RV park fees to auto insurance.
The latter, though, may not be as expensive as expected. The average premium for a year-long RV insurance policy at Progressive was $573 for a travel trailer and $958 for a motorhome in 2022. That’s $47.75 to $79.83 per month. And Progressive says that liability-only RV policies start at just $125 per year.
By contrast, Progressive puts the average auto insurance premium for a regular vehicle at $79.83 to $157.27 per month for a liability-only policy.
Still, it’s important to know what goes into RV insurance rates. Here are three factors insurers take into consideration.
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1. The type of RV
Vehicle costs play a huge role in determining auto insurance rates. The more expensive an RV is, the more it’s apt to cost to insure. Progressive says that motorhomes are usually more expensive to insure than travel trailers that are pulled by another vehicle. That’s because motorhomes are actually driven, so they need liability coverage.
RVs can also run the gamut from basic to high-end. If insurance costs are a concern, it’s best to be careful when paying extra for different RV features.
2. Location
Location plays a big role in auto insurance rates. An RV’s home base will help determine how much a policy costs.
If it’s an area with lots of crime or a history of many insurance claims, that could result in higher premiums. It’s also worth noting that people living in areas that tend to experience extreme weather events may face costlier premiums for RV insurance.
3. Driving history
Just as driving history plays a huge role in determining rates for traditional auto insurance, it also factors into RV insurance rates. Maintaining a clean driving record could result in a world of savings. Drivers with moving violations on their records may want to talk to insurers about the financial benefits of taking a defensive driving course.
All told, auto insurance is an important expense to factor into the cost of owning an RV. Shopping around is the best way to see what rates are available and find the most competitive offer. It may also be worth testing out an RV by renting one before taking the leap into ownership. Even though auto insurance for an RV may be less expensive than expected, there are other costs that may prove to be too big of a budget hit to make RV ownership worth it.
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