There aren’t many things in this world RVers love more than hitting the open road with a full tank of gas, but there is one, saving money. RVers are excellent at finding ways to cut costs from food to gas, to discount campgrounds. There is one monthly cost to their cruising that all RVers wish they could make smaller and that’s RV insurance. Luckily there are certain ways to save money on this too. Read on to find out some things you can do to lower your RV insurance rates.
6 Ways to Lower Your RV Insurance Rate
Many of the same ways you can save money on your everyday automobile insurance you can apply to your RV insurance to reduce costs. Here are some of our favorite methods.
Safe Driving Discounts
The longer you go without being involved in any incident, the longer your insurance rates stay down. Most people already know this, but you may not know that some insurance companies are not only not charging customers less that are safe drivers, but reducing and discounting some bills. Your insurance company may already have a program in place in place for safe driving discounts, but unless you call your agent, that money could still be coming out of every monthly bill.
Pay Up Front
This is another policy that many insurance companies provide but few people take advantage of. Several insurance companies offer the option of paying your insurance premiums up front or in bulk payments. Customers who choose this route may get a discount on their policy by paying up front, and you also get the peace of mind of not having to worry about sending out payments while you’re on the road. Not everyone has the cash to pay their policies up front, and that’s ok, but you do need to do pay on time. Paying on time not only means you won’t get docked late fees or higher interest rates, but many insurance companies will offer discounts to customers who consistently pay their bill on time. Again, this policy may be on the table, but you need to talk to your agent to see if it applies to you.
Increase Your Deductible to Lower Your RV Insurance Rate
Increasing your policy’s deductible is a two-edged sword. On the one hand increasing your deductible will likely decrease your monthly premium. If you do find yourself in a fender bender, the out-of-pocket costs will likely be much higher as you try to meet your deductible. This is a personal decision if you know your RV will be in storage for a year you might as well increase your deductible. If you are a frequent traveler, you are likely better off shouldering the higher monthly premium and not have to worry about any accidents or incidents.
Downsize Your Ride
The more your RV is worth, the higher your insurance policy is likely to be. If you’ve found your RV has outgrown you, you don’t use it much anymore, think about downsizing your RV. You can have an RV that is better suited to your traveling style while saving money on your monthly premium at the same time.
Upgrade Your Ride
Just like in your auto policy, the more safety features you have on your RV, the more likely you are to find a discount. Items like security systems, digital locks, safety features and more may qualify you for discounts. Talk to your agent to see if they can find you anything for upgraded safety and security.
Shop Around for the Best RV Insurance Rate
Just because you’ve had the same insurance policy for years doesn’t mean it’s the best. You should be talking to your agent at least once a year to see if you can get a better policy. If your insurance is just too darn high, consider shopping around for something that matches your financial situation better.
There are several ways to save based on yourself and your ride. The first step to lowering your RV insurance rates is by chatting with your insurance agent. Talk to them about possible rate reduction in any number of categories, and you may be surprised with what you find.