The Deductible Dilemma

Its one thing to want to save a dollar. Its another thing to save that dollar at the risk of a greater expense. You, the RV owner, have to find the right balance when selecting insurance for your RV. Here are the basics for your RV insurance.

Deductible

Approach your RV deductible with the same mindset that you approach the deductible for your car insurance. Getting a higher deductible to obtain a lower premium is a waste of your time if you won’t be able to pay the deductible in the event of an accident. Going from $500 to $1000 might seem like a good idea for the couple hundred you might save in premium payments, but the moment you have a big accident repair on your car, you will rue the day you made that decision.

Factor In Your Car

Your deductible on the RV is probably not the only deductible you have. You may have one on your car as well, which you need to factor in to your overall cost. What are the odds you’ll get into an accident in both your RV and your car in the same year, right? Well, you can’t think of it that way. You have to be ready to handle the financial responsibility of two deductibles in the same year.

Multiple Policy Discount

The first place you should be looking for RV insurance is your current carrier. Oftentimes the car insurance you get can be discounted by added another type of insurance to your existing policy. This goes for home, fire, and rental insurance as well. Don’t assume that your agent is applying discounts when they give you quotes. Human error is always a possibility, so check to make sure they are applying all discounts to your quote.

Getting RV insurance is tricky. The deductible is the first cost people try to lower, but doing it without thinking it through can cost you more money in the long run. Make sure your math is right before you go forward with any policy changes .


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