RV Insurance Glossary

RV Insurance Glossary

STANDARD AUTO COVERAGES
 
Liability - Applies to claims made against you for bodily injury or property damage to others resulting from negligent operation of a motor vehicle.
Personal Injury Protection - Applies to your medical expenses and lost wages resulting from the operation of a motor vehicle,regardless of fault in no-fault states.
 
Medical Payments - Applies to medical bills incurred by you, members of your family and passengers for injuries involving a motor vehicle.

Uninsured/Under-insured Motorist - Applies to claims you may have against another motorist for injuries you sustain as a result of a motor vehicle accident.  Uninsured coverage applies if the other motorist has no insurance.  Under-insured coverage applies if the other motorist has insurance, but it is not sufficient to pay for injuries incurred.
 
Collision - Applies to damage to your vehicle caused by striking objects such as trees, poles, or other
vehicles.

Comprehensive - Applies to damage other than collision, such as fire, theft, flood, hail, windstorm, or earthquake.
 
Actual Cash Value -  In the event of a total loss, pays the current market value typically determined by using Kelly Blue book or NADA Guide.
 
SPECIALTY RV COVERAGES
 
Replacement Cost - Covers the full replacement if the vehicle is destroyed by a loss covered in the policy, and replaced with a similar unit within the first five model years, protecting you from depreciation.  This coverage converts to Purchase Price in the sixth model year.
 
Purchase Price - Pays the purchase price towards a replacement vehicle if you experience a total loss covered in the policy and choose to replace the RV.
 
Agreed Value -  Pays the agreed-upon value, typically based on a professional appraisal or bill of sale, in the event of a total loss.  This coverage is ideal for purchasers of classic, bus conversion or used RVs.

Disappearing Deductibles - The comprehensive and collision deductibles are reduced by 25% of each claim -free year.  At the conclusion of the fourth claim-free policy year, you pay no deductible when filing a comprehensive or collision claim.  If a loss occurs, deductibles return to the original amount and the diminishing feature resumes.
 
Full-Timer - Provides personal liability coverage similar to a homeowner’s policy.  Additional living expenses, stored personal effects and other coverages may be available.

Mexico Physical Damage - Applies to comprehensive and collision coverage of your vehicle while traveling in Mexico, provided you maintain Mexican Liability on your vehicle during the entire trip.
 
Personal Effects -  Replacement coverage for items such as clothing, dishes, computers, cameras, or
sporting equipment that are not a built-in part of the RV.  Note:  replacement cost is subject to policy
terms.
 
Vacation/Campsite Liability - Pays for bodily injury to others or property damage occurring at your campsite.
 
Emergency Expense - Applies to emergency lodging and transportation expenses if your vehicle is damaged or destroyed by a loss covered by the policy.

Roadside Assistance - Most carriers provide sign-and-drive towing and labor via a toll-free number.  Auto policies may provide towing coverage, but typically offer a limited amount of coverage on a reimbursement basis with no dispatching service.

Medical Benefits (Scheduled) - Provides a specified dollar amount in the event of accidental death, or a dollar amount for scheduled disabilities.  Coverage only applies while operating your insured vehicle or as a pedestrian struck by a motor vehicle designed for public roads.
Custom Equipment Replacement - Replacement cost protection for after-market equipment added to your unit after the initial purchase.
 
Golf Cart/Moped/Scooter/Small Boat Coverage - Provides stated-amount comprehensive and collision coverage for a non-registered for-road-use golf cart, moped, scooter, or small boat.
Class Coverage - Instead of paying the higher comprehensive deductible, this coverage provides a $100 deductible for windshield and glass claims.

Consignment Coverage - This endorsement covers your unit from storm damage, fire, collision, vandalism, or theft while being sold on consignment with an RV dealership.

Note:  The definitions in this glossary are for general information purposes only.  For details
 regarding your specific RV insurance policy, contact your insurance carrier or agent.

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