RV insurance rates vary all across the country. Depending on where you live and your driving history, costs can increase or decrease rapidly. This isn’t an exact science, so here’s a look at average cost of RV insurance.
RV Insurance Rates Factors
Searching for an RV and the right insurance dealer is easy enough. Figuring out the actual insurance rate can be the tricky part, though. Car insurance rates depend on the type of car that you are putting on the road. The same goes here for RVs. A class A motorhome is the most costly option, insurance-wise. The Class C camper will cost the least amount of any motorhome on the road.
Much like car insurance, the age and condition of the motorhome come into play when factoring in costs. The common misconception is new RVs will have higher premiums. This is not always the case. Some insurance agencies may believe you are more likely to file a claim if your RV is old and in poor condition. This will cause your premium to bump up faster than buying a brand new motorhome. An older RV that remains in great running condition should cost less than a newer RV.
Highest And Lowest Rates
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.
Average Insurance Costs
With Arizona not included in the list of states with lowest and highest RV insurance rates, one can start to carve out average pricing details. Full-time RV insurance will likely land somewhere around $1,500. So, typical pricing for insurance is between $1,000-$2,000. Certainly, different types of classes will change prices. Monthly costs should come in around $220 for RV insurance. Class A RV could cost upwards of $2,000, while a Class C may cost as low as $1,000. Take all of these factors into account before purchasing your dream RV.