RVs are no small purchase. Odds are that a lot of time and thought was put into the purchasing of your existing recreational vehicle, and you can’t imagine what would happen without it if something were to happen. Many families consider purchasing RV insurance as a necessity for their peace-of-mind, and to protect their recreational vehicles in the event of unexpected damages or a liability claim.
But then again, some RV owners might hesitate because they worry about the added cost. Suffice to say, RV insurance in Alberta costs a lot less than the money it would take you to pay for the full cost to replace your recreational vehicle as it stands today. If you were involved in a lawsuit due to accidental damages you caused while operating your recreational vehicle or if someone was injured on the premises of your RV, you can bet that the costs it would take to defend yourself in court will far exceed the monthly premiums for insurance.
RecProtect is here to help simplify what the cost of RV insurance is in Alberta, what goes into calculating that cost, and some tips on how you can save without cutting corners on your coverage.
The Average Cost of RV Insurance in Alberta:
RV is an umbrella term that encompasses a wide range of different recreational vehicles in Alberta which are driven and/or towed behind another camper or vehicle (but are self-propelled). As such, it can be difficult to pin down an average cost for RV insurance in Alberta. These figures might help you gain a better idea as to what a typical RV owner will pay for their coverage:
- RV insurance costs around $X/month for a single vehicle which is valued at $X,XXX.
- Insurance for a recreational vehicle costs an average of $X/month for a single towed trailer which is valued at $X,XXX.
These are just average numbers. The best way to assessing how much your Alberta RV insurance might cost you is to get a free quote today with RecProtect. You can Buy it, Insure it, and Enjoy it immediately.
Alberta RV Insurance Cost Factors:
You may not expect to pay the same amount for your Alberta RV insurance policy as the next RV owner because a lot of individual factors go into your monthly premiums. Here is a list of some of the factors that may be impacting the cost of your RV insurance in Alberta:
- The overall value of your RV. The more your RV costs to replace, the more you can expect to pay per month for your premiums.
- The type of RV that you drive. More expensive, luxurious models will be costlier to replace or repair, which will be reflected in your premiums.
- Your insurance history. The more claims you’ve made in the past means that – statistically – you are much likelier to make additional claims in the future.
- Your coverage options. The more complex or extensive your coverage, the higher your premiums. (Depending on your needs, your coverage options will vary.)
- If you are permanently situated outside of Canada.
- If your RV serves as your permanent residence.
- Your deductible amount. Generally, higher deductibles will translate to lower premiums.
- For motorized RVs – your driving record. The violations, accidents, etc. that are on your driving record will affect your existing insurance premiums.
As you can see, the list of factors that are affecting the cost of your RV insurance in Alberta are extensive. For more information, or if you are wondering how something might be impacting the cost of your RV insurance in Alberta, discuss with RecProtect’s insurance brokers today for more information.
How to Save on Your RV Insurance in Alberta:
If you are dissatisfied with the cost of your RV insurance in Alberta or you’re working with a tight budget, there are a few ways you can reduce your costs without sacrificing any necessary coverage. Consider the following tips:
- If you operate a motorized recreational vehicle, drive safely. Accidents and speeding violations can spike your insurance premiums considerably.
- Keep up with maintenance. Some RV models require more maintenance than others, but oftentimes accidents and roadside expenses can be traced back to wear-and-tear issues that could otherwise have been prevented. When winter hits, it’s a good idea to do a thorough check of your RV to ensure there’s no possible infestation or freezing.
- If your budget is tight, choose an RV with your insurance policy in mind. You can ask RecProtect’s insurance brokers which RVs are the cheapest to insure.
- Trim the fat. If you store your RV for the wintertime, you won’t need that Snowbird Endorsement. Discuss with your RecProtect insurance broker about any possible coverage options you can afford to lose if you’re looking to cut costs.
- Raise your deductible. So long as you are comfortable with the higher out-of-pocket costs, a higher deductible can reward you with lower premiums.
- Ask about discounts. RecProtect offers premium discounts for preferred parks across Alberta.
If you’re still interested in ways to save, chat with RecProtect’s insurance brokers about ways to save that are most relevant to your current circumstances.
Note that if your RV is financed or leased, your lender may require you to carry specific coverage options so you may not have as much of a choice in what you can alter. If you have any additional questions about the cost of RV insurance in Alberta, reach out to RecProtect’s experts today!