Full-time RV insurance costs an average of $1,500, with policies ranging from $1,000-$2,000 in the U.S. in 2021. However, RV insurance policies and cost factors can vary across the country.
RV Insurance Cost Factors
Here are a few of the factors that can influence overall cost of your RV insurance policy:
- RV Size
- Resale Value Of The RV
A Class C RV insurance policy may cost as low as $1,000, while Class A insurance can easily cost upwards of $2,000. RV size is one of the biggest factors influencing cost. Insurance agencies in the U.S. generally use three different class sizes to rate RVs. Full-size luxury motor homes that often provide year-round housing for the drivers are considered Class A. Class B RVs are a bit smaller, but can be lived in, as well. Class C RVs are the smallest of the three classes.
The resale value of the RV is an important factor when figuring out policy price. Of course, a new and more expensive RV will cost more to insure than a used RV.
RV Theft Coverage
The likelihood of theft will play a role in your final insurance quote. While these vehicles aren’t typically targeted by burglars as much as regular-size cars, they can still come under threat. When an RV is left unattended at a park or campsite, it may be targeted for theft. Where you intend on storing the RV will be a factor in how much your policy costs. The policy will certainly cost more if the RV is stored in an area with high crime rates. Insurance agencies use zip code information to determine the risk of damage for the RV.
RV Road Accident Coverage
Accident risk can be a huge factor in determining a policy rate. RVs frequently run the risk of being in serious accidents since they are typically driven on high-speed highways for long periods of time. Repair costs are a lot more than average automobiles, as well. All RV owners will run the risk of not finding available parts so easily if an accident occurs.
Average RV Insurance Rates In The U.S.
Three states have by far the lowest RV insurance rates in the country. The states are as follows, in order: North Carolina, Oregon and Massachusetts. In North Carolina the average annual premium costs merely $860. Part of the reason why rates are so cheap in Massachusetts is the plethora of options for RV insurance.
Michigan has the highest RV rates in the United States, with an average premium of $4,490. This is because Michigan has a mandatory personal injury protection coverage, which can be costly. Louisiana’s premium is nearly half the cost of Michigan’s, but still ranks as the second most expensive state for RV coverage.