What’s Special About Specialized RV Insurance?
The extent of coverage is the major difference between a standard auto policy and a specialized RV policy. Specialized RV policies accommodate the unique risks involved in the RVing lifestyle. As you and your insurance agent put together your customized RV package, keep the following coverages in mind for combination into a comprehensive policy: Total Loss Replacement (TLR) – With TLR coverage, also called Replacement Cost Coverage, if your RV is totaled, the insurance company either replaces your RV with a new one or pays you your initial purchase price, depending upon the age of your unit at the time of loss. Generally this policy is in effect for the first five model years. After that, because of age, many companies convert TLR policies into Purchase Price Guarantee or Actual Cash Value policies. Purchase Price Guarantee (PPG) – In case of a total loss of the RV, this policy will reimburse owners for the amount paid for the unit as written in the policy toward the purchase of anothe
