RV, Boat, Motorcycle
For many, owning an RV, boat, or motorcycle is a dream come true and a ticket to recreational fun and freedom. But like everything else of importance and value, they need to be insured. Not only are RVs, boats, and motorcycles expensive to replace or repair, but their owners are also responsible for their safe operation and liability to others in the event of an accident.
While insuring RVs, boats, and motorcycles is similar to insuring your personal vehicle, there are significant differences as well. Your insurance agent can explain the many variables involved and help guide you toward making an informed insurance buying decision. Here are some things to think about.
RVs
RVs generally fall into one of several classes – motorhomes, travel trailers, and pick-up campers. The insurance considerations for each class differ.
Both large and small motorhomes are self-contained units. Not only are there the vehicle portions of the motorhome (engine, chassis, number of axles, etc.) that are factored into your RV insurance, but other equipment and RV contents as well. Systems monitoring equipment and other safety features and devices can help protect your RV investment.
Travel trailers, which are towed behind another vehicle, are treated a bit differently. While they may contain many of the features and equipment of a motor home, they are typically licensed differently.
Pick-up campers, which ride on and are attached to the bed of a pick-up truck are also treated differently, and may be insured as a rider on the vehicle’s insurance policy.
When considering the purchase of an RV, get information and input about insurance options and alternatives from your insurance agent. Considering the amount of money that you will spend on your RV, it makes sense to insure it adequately.
Boats
Like RVs, boats come in all sizes and types, and the insurance for each varies. Since most boats are towed on trailers, the trailer is another item to consider for insurance purposes.
Generally, the cost of insurance for boats increases with the length of the boat as well as with engine horsepower. Where the boat will be used, distance trailered, equipment, and other factors are also considered.
While boatowners are required to minimally equip and operate their vessels within state and Federal rules, some additional safety equipment and/or specialized operator training may qualify for insurance discounts.
Again, the helpful advice of your insurance agent should be considered before buying a boat.
Motorcycles
Motorcycles are another form of transportation that need to be insured. However, unlike the multitude of insurance information available for autos, relatively little is available for motorcycles. In fact, many insurance companies simply do not insure motorcycles because of the risk they pose. Some companies that do offer motorcycle insurance, only write it for those with exemplary driving records. Furthermore, motorcycle insurance often seems disproportionately high when compared to auto insurance.
Because motorcycle insurance tends to be more costly, it would be worthwhile to talk to an insurance agent before shopping for a motorcycle. There are likely things you should know about how motorcycles are insured that could influence your motorcycle purchase.
If your mind is made up about buying a motorcycle, there are a few things you can do to keep insurance costs manageable. First, if you already have a good driving record, work to keep it good. Second, take a motorcycle safety course, even if not required by law. Third, choose a higher deductible. Fourth, if possible, only insure your motorcycle for the times you will use it. Fifth, purchase and use anti-theft devices. Sixth, find out about equipment-related discounts. Seventh, double check the engine’s horsepower and consider what you really need versus want.