Renting an RV is a way to try out the RV lifestyle without committing to a purchase. However, RVs are large and expensive, and renters need to properly insure the rental to avoid exposure to significant financial loss in case of an accident or other problem. There are a number of ways to insure a rental RV; renters should determine the options that are available and choose the one that best meets their specific needs.
Visit an RV dealership or other rental location. The costs of renting and insuring the RV will correspond with the value of the RV; more expensive models will be more expensive to rent and insure.
Obtain information on insurance options available from the rental location. Dealerships and other businesses that rent RVs typically offer insurance packages similar to insurance offered by a car rental agency.
Get information on private insurance requirements from the rental location. Many rental companies require specific levels of coverage and deductibles from private insurers before approving the rental.
Contact your current auto insurer to determine if the policy covers rental RVs. Auto insurance policies may cover the RV but not the contents of the vehicle or may be void if the vehicle has overnight occupants.
Review documentation from credit card companies about RV rental insurance coverage. If coverage is available, contact the company about protection specifics. Insurance coverage from a credit card company will probably not be sufficient to fully cover an RV rental but may provide a supplemental level of insurance protection.
Talk with your current auto insurer about purchasing additional coverage for the rental RV if the current policy does not cover it. Most major insurers will be able to add a binder to a current auto insurance policy to cover an RV rental. Determine the amount of coverage, deductible amounts and assure their compliance with the guidelines for the RV rental company. Determine the cost of the policy.
Contact other insurers to compare insurance products for a rental RV as well as the terms of the insurance plan.
Choose the plan that is the most affordable and provides a comfortable amount of protection. Renters must be able to afford payment of the deductible amount quickly in case of an accident.
Complete the steps with the chosen insurer to purchase the insurance coverage.
RV rental locations offer insurance similar to a car rental agency. These insurance packages are convenient for the renter but may not offer the best value in terms of insurance cost. Rental agencies often offer a 100 percent coverage insurance option. While expensive, these policies require no out-of-pocket expenses to the renter and can provide a renter with peace of mind.
When buying insurance from a source outside of the rental agency, arrange for the insurance coverage to last until at least a few days past the expected return date. This will provide coverage in case the trip lasts longer than expected.
Adding a binder to a current automobile insurance policy is typically a quicker and easier process than buying just an RV rental policy from another company. If another company is less expensive, buyers should consider the time and hassle, when choosing an insurer, as well as cost.