WEDNESDAY, DECEMBER 30, 2020
Now that it’s the off-season for RV travelers, you might not be using your vehicle as much as you have previously. Therefore, since you aren’t on the road as much, you might wonder if you really need the full benefits offered by your RV insurance. Should you cancel it altogether? Can you reduce your coverage during the off-season to help you save on your rates?
Canceling your RV insurance just because you are not using your vehicle is not an option. However, you can talk to your agent about your savings opportunities that are available during low-use periods, and they can often make your savings work for you.
Why Not to Cancel Your RV Insurance
If you are planning to store your RV for the next few months, then whatever you do, do not cancel your coverage. There are a multitude of reasons why:
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Even in your own driveway, RVs are not immune to damage from weather, vandalism, theft or other hazards.
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If you cancel your policy, then you will have to re-enroll in a new policy before you can return to the road. You might not qualify for the same premiums and benefits that you did on your previous plan.
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Cancelling your coverage means leaving a gap in your insurance history. Nearly all drivers have to buy auto insurance, including RV operators, and they are required to maintain it. Therefore, if an RV insurer sees a gap in coverage on this particular vehicle, then they are likely to label you as a high-risk driver, and you might face a higher premium.
How to Save on Rates During the Off-Season
If you want to keep your RV insurance affordable, and even lessen your premiums during the off-season, then there are solutions beyond cancelling your existing insurance.
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Ask if you can cancel certain portions of your coverage without terminating the whole policy. For example, you might be able to cancel your collision coverage during this period, since you after all won’t drive anywhere to have an accident. However, you must remember to reinstate this coverage after you return to the road.
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Consider raising your deductibles on certain coverage. While this might mean you have to pay more out-of-pocket for certain claims, it will lower your overall premium.
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Use the off-season as a time to ask your agent to do a policy review. During this time, your insurer can review your coverage and recommend whether you are actually receiving the right benefits.
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If you work with an independent agency, ask your agent if any of the policies offered by other carriers are more affordable than your own. Your agent might be able to transfer your plan to a more affordable one without sacrificing your essential benefits.
All in all, while your RV still needs insurance during an off-season, that doesn’t mean you can’t still keep your cost burden fair and affordable. Just ask your agent how they can help.
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