RV Warranties vs RV Insurance: What Are They And Do You Need Both?
RV Warranties vs RV Insurance: What Are They And Do You Need Both?
Posted on May 24, 2021
Your RV is a valuable asset, and it pays to protect it in the best way you can. Two important items to consider are RV warranties and RV insurance, and while they're similar, they have several key differences. Do you need a warranty, insurance, or even both? Read on to find out.
What Are RV Warranties?
When you buy your RV new, it will be covered by the manufacturer's warranty, with the major parts covered for repair if they fail. However, this warranty usually only lasts for a year or two. Because of this, many RV owners take out an extended warranty that will provide coverage for longer, and may also extend the coverage to a wider range of accessories. Also, an extended warranty can be taken out on used RVs where the manufacturer's warranty has already expired.
An extended warranty is often offered by the RV dealer when you're signing up to buy a vehicle. While this can make a very good option, it's important to check the details carefully, and make sure you're getting value for your $30-$100 in monthly fees.
A good option is to research typical warranty features and prices before you get around to visiting the dealership. This will give you a good idea of whether the dealer's warranty is worth buying, or if it's simply a way to bump up their profit on the deal.
What is RV Insurance?
In contrast to a warranty, which covers mechanical failure and other unexpected issues, insurance covers your possessions as well as the RV itself, and will also pay out for accidental damage, theft, and other situations which a typical warranty wouldn't cover.
RV insurance also includes a liability component, which covers other road users if you're responsible for an accident. Driving an RV without this insurance is illegal, and so it's important to weigh up the costs before committing to an RV purchase. There's no way around buying a policy, even if it makes RV ownership too expensive to be comfortable.
Most RV insurance policies can also be extended to provide additional liability coverage, which protects you from legal issues if a visitor to your RV has an accident or injury, whether or not you take the blame.
And lastly, one important point is that policies for part-time and full-time RV usage can be very different, so it's important to get a policy that fully covers your situation. If you get a low-cost, limited policy and the insurer finds out you live in your RV full time, you may find any claims you make are denied because of restrictions in the policy.
Do You Need Both RV Warranties and Insurance?
RV warranties and RV insurance are both important, and most RV owners will have both. A warranty will protect you against repairs and other mechanical costs, and at least some level of insurance is needed to drive an RV legally. For most people, talking to an independent RV advisor is a good idea before buying, so you know exactly what extra costs might be involved to give you the right amount of coverage.