One of the best ways to save money on a motorhome, is to lower the cost of your motorhome insurance rates. Even a small amount of savings such as saving $50 a month on your cheap motorhome insurance, can save you approximately $600 per year. This article talks about four things you can do to help lower your RV insurance rate.
Number one. The first thing you can do to help you lower your motorhome insurance rates, is to shop around. The chances of you finding the best rate by only calling one company are very slim. We recommend that you try contacting at least four different companies to give you competitive rates on your motorhome insurance. On the whole, rate fluctuates, and the factor that affects rates the most is market competition. As there is more competition in the free market, rates on cars and RVs tend to decrease in spite of increasing government regulations. One of the best ways to shop around for cheap motorhome insurance, is to shop online. This allows you to quickly compare prices for different companies. Often you can fill out an application online in 5 min. and get a rate e-mail to your inbox. This is a very quick and efficient way to shop for insurance.
Number two. The second thing you can do to lower your RV insurance is to get a higher deductible. If you have $5000 in the bank earning you .1%. You can insure yourself for the first 5000, and actually beer and a higher return on your money of 15 to 20%, as long as you do not get into an accident. If you get into a major accident, you will have the money to cover the deductible, and the insurance will pick up the rest.
Number three. Now that there are a lot more entrants into providing motorhome insurance, it is fairly easy for you to find a bigger insurance company, that is willing to bundle your services, and give you a better price. For instance, your motorhome insurance rates can often be lowered if you also have homeowners insurance: car insurance through the same policy. Not all insurance companies will give you a discount for bundling, but many will. Be sure to ask if you think this will help you get a discount.
Number four. The fourth tip that will help you to lower your RV insurance rates so that you can get the cheapest motorhome insurance possible, is to payoff your motorhome. Once your motorhome is paid for, improbably do not need to have full coverage. You can save money by carrying liability only on your policy. This will cover you if you do damage to another car, but not to your own. If it were me, I would still keep uninsured motorist on my insurance just to cover me in case somebody else hits me and doesn’t have any insurance. I think there is a higher risk of someone else hitting me, without insurance then there is of me being involved in an accident. Also uninsured motorist insurance is fairly cheap anyway.
* How to Lower Your RV Insurance Rates
* The best way to find Cheap RV Insurance