If you are like most Americans that like touring this beautiful country, a recreational vehicle is a worthwhile investment. But if you are using your RV seasonally, should you keep RV insurance year-round? Isn’t it expensive? If you feel you should cancel your RV insurance when not using it, think again. Alliance Insurance Services in Arvada, CO insists you maintain RV insurance throughout for the reasons below:
Some risks don’t have an off-season.
Since you aren’t using your RV on the road, we can assume that you are off the hook with the risk of collisions. However, dangers like fire, falling objects, vandalism, and natural disasters threaten your RV, even if it’s parked or in your garage. Since some risks are present all year through, the thought of canceling RV insurance shouldn’t be entertained.
It may be required
If a loan finances your RV purchase, one of the requirements could be that you maintain your RV insurance as long as the loan is outstanding. If you cancel your RV insurance, this may breach the contract with your lender.
It creates a gap in your policy.
Policyholders who cancel their insurance coverages halfway through may be considered high-risk clients. As such, they may get higher premiums when renewing their policies.
If you are not using your RV throughout, canceling your policy is never a good idea. What you can do is suspend coverage options that aren’t applicable. For instance, you may suspend collision and liability coverage and maintain comprehensive coverage to protect your RV against non-collision risks.
RV insurance in Arvada, CO
Does RV insurance appeal to you? If yes, it’s time to get an affordable policy in Arvada, CO. Please contact Alliance Insurance Services for a no-obligation quote.