RV Rental Insurance – 10 Things you need to be aware of after you book your rental RV!
If you are renting an RV then getting adequate insurance is one of the key aspects of your RV Rental
Trip. This is particularly important because most RV renters are new or have very limited RV driving experience and RVs are likely to have incidents during the rental Trip.
1. Why You Need RV Rental Insurance
Driving an RV is not difficult or risky if you follow good driving practices including staying alert at all times, however despite all your precautions there are many situations where things may be outside your control. For instance there could be branches that may brush against the RV roof or side (Repair cost will be few thousand $), or while backing the RV you may run against some low lying obstruction that damages RV’s gas tanks or plumbing tanks (Repair cost will be few thousand $).
Similarly the likelihood of damaging RV interior is also high. E.g. RV bathroom fixtures are usually fragile and rough handling may damage them. In one case a renter’s child was playing with ball that hit one of the lights and broke it (repair cost - $150). In rare cases renters are in serious accidents that not only affects the RV but also results in liabilities as damage to other’s property or injury to others.
2. RV Insurance Cost - $30-$50/day
Almost all RV Rental companies offer good insurance that covers major accidents and liabilities, however this comes at a high cost of almost $30-$50/day depending on various factors including the value of RV. RV Insurance is usually mandatory at the time of booking the RV, if you happen to have personal insurance that covers rental RVs then you will need to follow up with the RV Rental’s service department, provide proof that you have personal insurance coverage and get a refund of the RV insurance component.
3. Supplemental RV Insurance - We recommend that you buy
RV fixtures are usually not built very strong and there is a good chance that small things could get damaged inside the RV and in rare cases RV could get serious external Damage. Therefore it is advisable to buy the additional insurance and get peace of mind. This additional insurance cost does add to your holiday budget but in a rare situation that RV gets damaged, this cost could save you lot of money. Please refer to following web sites for additional details on supplemental Insurance:
Cruise America - https://www.cruiseamerica.com/Cruise/media/PDFs/coverage/Zero-Deductible-Plan.pdf
RVShare.com - https://rvshare.com/insurance
Outdoorsy - https://www.outdoorsy.com/help/outdoorsys-protection-packages
4. How do I buy the RV Rental Insurance
This step is included in the RV booking process and as long as you follow the standard process it will provide you with the insurance for your RV Rental Trip.
5. Deductible - Usually about $1500
Even though you may purchase the RV rental insurance, you still need to aware of the RV deductible. For RVShare.com and Outdoorsy.com deductible is about $1500. This implication on your rental trip is that if the damage to the RV is less than $1500 then the renter is responsible for this and has to pay out of pocket. For example if you swipe against branches and damage the RV’s awning (on the side) and it costs about $1000 to repair the awnings fixtures then the renter is responsible for the $1000 expense.
Similarly if the RV renter drives the RV through a low bridge and damages the RV’s bridge then the cost may run into thousand’s of dollars to the RV. In such case RV renter is on hook for the initial $1500 and insurance pays for the rest.
6. What should I do if the RV gets damaged during the rental trip.
Don’t panic. Report the RV damage to the rental company, if the RV is safe to drive then finish your trip as per your plan, if the damage is significant then follow the RV rental companies guidance if you should get the RV to a nearby RV dealer who can fix it or get it towed.
7. Insurance Claim & Review
In most cases insurance companies are very reasonable, however in rare cases if the insurance company finds the renter to be in violation of RV rental agreements or blatantly unsafe driving practices then they may decline the claim and renter may be on hook to pay for the entire expense.
8. Security Deposit - Goes on hold in case of insurance claim.
If an insurance claim is filed then it will automatically put your security deposit on hold i.e. you will not get the security deposit back till the issue is resolved. Thereafter the insurance deductible will be paid from your security deposit.
9. Claim Review & Approval - Few days to Few Weeks
Once an insurance claim is filed it may take a few days for the insurance company to review the claim, they may ask for additional details. Once all details are provided to them then they take few weeks to approve the claim amount. For simple claims the whole process may be completed in about 2 weeks, for complex claims this may take two months or may be longer.
10. RV Insurance Claim - Does not affect your personal car
In a rare case that you do file an insurance claim due to RV rental damage, it does not affect your personal insurance history or rates as long as you purchased the insurance from the RV rental company.
Bottomline – Get Insurance and Drive Safely
Bottomline is that you should always have insurance coverage for your RV rental trip, follow safe driving practices, keep a printout of your insurance documents, and follow reporting guidelines should any damage to RV happen.