Standard automotive insurance is likely to be inadequate in protecting your recreational vehicle
Many RV purchasers are under the impression that they can add their recreational vehicle to their auto insurance. Although this may be true, it may be shortsighted. The purchase of an RV such as Newmar motorhome is generally more expensive than an automobile. It has all of the characteristics of an auto or truck, but in addition it has many of the characteristics of a residence. As a result, an RV purchaser would be well advised to investigate specialized RV insurance to better protect the vehicle and your over-the-road lifestyle.
Specialized RV insurance may cover many items not found within a traditional automobile insurance policy, such as Total Loss Replacement Coverage (TLR). This policy item provides full replacement of the RV (within a pre-determined number of years from the purchase date) with an RV of like kind and quality.
Purchase Price Guarantee Coverage, in this policy feature, the RV is covered for its original purchase price for a number of years (varies by insurer), and the policy covers this amount and it is applied toward the purchase of your next Newmar motor home or other RV.
Full-Timer Coverage is a feature that is directed at RVers, who spend five or six months a year living in the recreational vehicle, or they may not have a principle residence. The increased time spent in the RV increases the chance of liability and risk, so this coverage can protect the insured against many “homeowner” type incidents.
Scheduled Personal Property covers itemized valuables that are declared, and within pre-determined limits.
Secured Storage of Personal Effects is a policy feature that enables a full-time RVer to protect personal items stored in a public mini-storage facility while the full-timer is out on the road.
There are a multitude of policy features that the RV purchaser should investigate when protecting this major investment and the lifestyle you would like to enjoy, so be sure to take some time in the purchasing process to learn how these policies can provide the proper protection and coverage. Newmar Dealers want to make sure Newmar Motor Homes and their owners are properly protected so they can spend their time enjoying their Newmar Motorhomes.
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