RVs are versatile assets. Perhaps you use your RV to take seasonal vacations with your loved ones, creating memories that will last throughout your lifetime. Maybe you use your RV as your primary residence during extended stretches throughout the year. Whatever the case may be, RV insurance can help protect your prized possession.

To help assist you through the process of finding coverage, here are some important variables to consider while researching RV insurance.

1. Usage

   Your insurance agent will assess the amount of time you spend on the road in your RV. Your RV usage may impact your liability limits. Your agent will assess whether you own a home or stay in a rental property while using your RV on the side compared to if you're actually living in your RV. The more time you spend on the road, the higher your liability risks.

   Increased risk exposure means that you'll likely pay higher insurance premiums. If your RV suffers damage and your insurance agent believes you weren't being truthful regarding your RV usage, they could deny your claim.

2. Personal Belongings

   Purchasing RV insurance helps protect your personal belongings if they are stolen. In most cases, the personal items stored in an RV differ from those stored in an automobile. Perhaps you store clothing, jewelry, appliances, and electronics in your RV, especially if you're traveling for most of the year. If something happens to your RV, you could be financially responsible for covering the entire repair and replacement costs if you don't have insurance.

   Obtaining personal belongings coverage through RV insurance helps alleviate a lot of stress. You should have your personal items appraised before choosing an RV insurance policy.

3. Key Differences in Coverages

   It is good to know the differences between the agreed value, actual cash value, and replacement value. Replacement value coverage is beneficial if you have recently purchased a new RV. If your RV is totaled, your insurance will cover a replacement with a similar make and model to your previous RV. Replacement value coverage is designed to offset potential depreciation expenses. Agreed value coverage is recommended if you have an older or custom RV. You and your insurance agent can sit down and discuss a fair amount of coverage for your RV if it is totaled. In some cases, an independent third party may step in to establish the agreed value. You can also receive clarity by having your RV appraised. If your policy has actual cash value, you'll be reimbursed based on the current cash value of your RV if it's totaled.

4. Garaging/Storage Coverage

   While computing your RV insurance rate, your insurance agent will likely ask about where your RV is stored when you aren't using it. While most people store their RVs in their garages, others prefer to put them up in storage or park them at a gated facility when they aren't using them. Your insurer will assess your liability risk based on the area where your RV is parked the most. If you store your RV in a safe place, that can lower your insurance premiums.

Consult with Amity Insurance Group

RV insurance helps you protect one of your most valuable assets. If you have questions or are looking for personalized RV insurance in McKinney, Texas, contact our team at Amity Insurance Group for assistance.