The popularity of RVs in the U.S. is growing at a phenomenal rate with over 11% of households owning an RV, along with 15 million RVs owned by millennials. But for RV owners in Florida, you need to know that state law requires insurance on any motorized RV. But it can be unclear as to whether your RV would be covered under an auto insurance policy, a homeowners' policy or a combination of the two.
The answer can depend on the use and where the RV is stored or parked. Here are a few scenarios to explain the issue of various insurance coverages:
When your RV is parked in your driveway or garage, it is usually covered by your homeowners' policy, that is, if you list the RV on your homeowners' content list. If the vehicle or your possessions in the RV are damaged, you should be covered. But not all homeowners' insurance will cover RVs.
When you are actually on the road with your RV, your auto policy will usually cover another party's expenses, both bodily injury liability and property damage, if you are found at fault. But most of the time, your auto insurance won't cover damage to your own RV or contents. So most likely you will only have limited coverage under your existing auto policy.
When your RV is parked at your vacation campgrounds, your RV then is considered a rental home. At this point, generally neither your homeowner's or auto policy covers your liability, for problems such as vandalism and theft.
So depending on your specific situation, your homeowners' and auto policies might help cover basic liability costs for an RV, but most likely it will not be enough. That's where you need to consider purchasing a separate RV insurance policy. This policy is similar to a full auto policy in that it covers liability, collision, comprehensive, uninsured/underinsured, towing, roadside and emergency. It gives you higher liability limits that you could ever receive as a subset of your auto policy. In addition, if you are getting a loan, financing or renting an RV, lenders will probably require you to purchase separate RV insurance.
Before you hit the road this summer, get with your J.P.Perry Insurance agent to review your current homeowners' and auto coverage regarding an RV and to determine any additional coverage you should have to protect your vacation travel.