How Much Are the Insurance Costs on a Park Model Trailer?

How Much Are the Insurance Costs on a Park Model Trailer?

Do you own a park model trailer, or perhaps you’re considering purchasing one? Park model trailers aren’t just like any RV. Their usage, their appearance, and their costs may differ.

A park model trailer is not hugely different from an ordinary RV, but key variations to note are that a park model trailer is towed to a seasonal site and most often permanently parked then adorned with coverings, decks, and other permanent fixtures for a feel of “permanency”. A park model trailer still retains the opportunity to relocate upon season change or when the owner so wills it. Park model trailers are not built the same as any one RV and, as such, should not be insured the same way. Coverage should always reflect the type of recreational vehicle you own, how you use it, and your personal coverage needs.

Cost are where things start to get hazy. No one wants to spend more than they should for their park model trailer insurance. RecProtect has the information you need. Read on to learn about insurance costs on a park model trailer, what insurance companies use to calculate risk, and more.

The Basics: Insurance for Park Model Trailers

Your park model trailer may very well be an integral part of your life. You may use it to scout out the latest and greatest campgrounds in your province, visit family, or simply enjoy life in a very different way when the seasons change. Insurance isn’t mandatory for park model trailers, but it’s an important purchase regardless to protect your trailer and its contents.

A park model trailer insurance policy may include:

  • Physical Damage Protection, for losses due to collisions or as a result of high winds, lightning, falling trees, vandalism/theft, ice damming, fire, and hail.
  • Bodily Injury Liability, if you were in a situation where the operation or towing of your park model trailer resulted in a third-party’s bodily injury.
  • Property Damage Liability, if someone’s property or vehicle were damaged as a result of you towing your park model/or if damage to their property occurred while they were attending your parked park model.

This is just the standard options for coverage, and your exact coverage may vary depending on your circumstances and needs. For instance, if you use your park model trailer as a full-time residence you may need a separate insurance policy that would extend your existing liability coverage. Moreover, if you used your trailer as your residence in Canada for six months out of the year and then went south for the winter, you may need something referred to as a “snowbird” endorsement. The options are endless! Don’t hesitate to discuss with a RecProtect broker if you have specific needs.

What Affects the Costs on Park Model Trailer Insurance?

park model trailers Insurance costs differently depending on a lot of different variables. These factors may be impacting the cost of your park model trailer insurance:

  • The length and width of your trailer
  • How often the trailer is used
  • Detached private structures, like awnings, decks, coverings, etc.
  • What time of the year the trailer is used
  • The overall value of the trailer
  • Your insurance history
  • Coverage options
  • Deductible amount

As you can see, there is a lot that goes into calculating the overall costs for park model trailer insurance. Some trailers may only be used on rural properties and will never see a public road, meaning you may be able to trim off some extra coverages and save some costs. Still, it’s unwise to go completely without insurance, even if your situation is unique, because you never know what could happen.

Some things to consider when it comes to the costs of park model trailer insurance:

  • Full time residence: if used as a full time seasonal residence in Canada, you may want to ensure that the package is proper as it could be insured incorrectly. The most cost effective insurance is not always the best option when it comes time for a claim.
  • Physical Damage Coverage: You can most likely extend liability form your homeowners policy to the park model trailer and insure the physical damage yourself, however this may not be your best option. It may cost you a little more than the base liability, but park model trailers – due to them being parked and used as “permanent” homes – are more at risk for theft and vandalism than a trailer that is constantly being towed about. Once you consider the trailer itself, the contents and additional rental expenses you could be out a lot of money if not insured properly.
  • What kind of detached structures and contents do you carry with your parked model trailer? You’ll want to discuss those items with your RecProtect park model trailer insurance broker to ensure that your coverage is enough to cover everything you need.

RecProtect for Affordable Park Model Trailer Insurance Costs

If you’re concerned about costs, RecProtect has your back. We offer discounts for preferred parks throughout Canada as well as access to top-rated carriers and markets for reduced rates. For your seasonally occupied park model trailer, you want insurance coverage that works. Trust us to help you find comprehensive coverage for less – and start with a quote that you can get in under 60 seconds.

With RecProtect, you can get unbeatable quotes in just seconds. Enjoy your park model trailer and let us worry about all the rest.

RecProtect Quote FAQ

Question: How simple is the process?

Answer: With RecProtect, you are able to purchase a policy online without speaking to a broker. Simply follow the steps and enter the information as prompted. When you reach the quote, you will see an option to complete your application, highlighted in blue. Once the application is complete you will be directed to sign and enter in credit card information to pay for your policy. RecProtect offers a one-time payment for the year. Once the policy is paid for using a regular credit card or Visa/Mastercard Debit, you will receive the official policy documents in your inbox within minutes!

Question: Have Questions during the quote process?

Answer: Select "Return to Broker" in the bottom left of page if you wish to have a broker review your application. A broker will contact you once application is reviewed. If it is time sensitive, call (888) 887 0881.

Question: Don't have enough time to complete the quote?

Answer: Select "Save and Continue Later" if you wish to revisit the application at a later time. You will receive an email with a link to the application you have started. This will retain all of the data you have entered and will allow you to sign and pay for the application at a time that works best for you.

Question: Questions on coverages?

Answer: Two Settlement Options: Replacement Cost or Actual Cash Value.

1. Replacement Cost: Replacement Cost will have no deduction for depreciation of any kind, this is conditional on insuring the unit for replacement cost of a brand new unit including taxes and any additions.

Ages to qualify for replacement cost:

  • Travel and Fifth Wheel Trailers: Up to 15 years old
  • Park Model Trailers: Up to 25 years old
  • Watercraft: Up to 15 years old

2. Actual Cash Value or Fair Market Value: The Actual Cash Value is the current market value of the unit which includes depreciation. The value is calculated at the time of the time of loss and is based on similar comparables in the marketplace less any costs that would have made your item ready for sale.

Question: What is covered?

Answer: Common claims that are covered are: Fire, lightning, windstorm, hail, collision, theft, vermin and falling objects.

Still have questions? Contact us at: (888) 887 0881.