Motorcycle, Boat, and RV Insurance Guide

There are several common types of insurance held by most people: health, life, auto, and home.

These are not the only kinds of insurance on the market, though.

As insurance companies grow, they are always looking for new kinds of plans to offer their customers.

These companies want to sell you as much coverage as possible, and policyholders want to ensure all of their big purchases are protected.

Just because some policies aren’t required by law doesn’t mean you shouldn’t have them.

Why would you put some of your most expensive purchases at risk?
Take a look at some less common types of insurance you might want to purchase.

Motorcycle Insurance

Depending on where you live, your state might require some liability insurance, but for most people, that minimum is not enough protection.

Liability insurance is only going to pay for damage or injuries to OTHER drivers, which won’t help you at all to fix your bike or hospital fees.

When you’re shopping for motorcycle insurance, there are a couple of key considerations:

  • Additional liability above the state’s requirements. In most cases, the minimum requirement isn’t a lot. If you are ever in an accident, and it’s fault, then you could end up with a lot of bills. Make sure your motorcycle policy is large enough for those bills.
  • Collision protection. This coverage will pay for any repair costs if you’re in an accident. Don’t let a wreck keep you from hitting the open road again.

Motorcycle Quotes

Just like with other auto insurance plans, there are a lot of factors which are going to change how much you pay.

Each motorist is going to get different rates, even if they have the same bike.

Some of the factors the insurance agent is going to consider when determining price are the age of the bike, the value of the bike, how often you ride, and your driving record.

A motorcycle plan can be anywhere from $100 to $400 every year.

But even at its most expensive, motorcycle insurance is a relatively inexpensive insurance plan.

Boat Insurance

A boat insurance plan is very similar to a traditional auto insurance plan.

It has all of the main protection categories.

Boat insurance includes collision coverage, bodily injury liability, property damage liability, and comprehensive coverage.

  • Collision protection will pay to repair your boat and get it back o the water if something happens. It won’t pay for any additional clean-up from the wreck.
  • Property damage insurance will pay for the costs to others people’s things, like their dock, boat, or other properties.
  • Similarly, boat insurance has bodily injury liability, which will pay out if another boater or passenger is injured and it’s your fault, just like any other automobile insurance coverage.
  • Lastly is comprehensive coverage, which will protect your boat from everything else not covered by collision. If your boat is damaged from weather if it’s stolen, or anything else, comprehensive coverage kicks in.

Boat Insurance Quotes

Boats can be an expensive investment, especially if you have to do costly repairs from an accident.

Boat insurance policies can range in prices, but a rule of thumb is 1.5% of the value of the boat.

Let’s say you own a $20,000 boat, your insurance policy will cost around $300.

Just like with other kinds of vehicle insurance plans, there are some common factors they are going to use to calculate the premium size:

  • Age of the boat.
  • Value of the boat.
  • Your claims history.
  • Horsepower of the boat.
  • Safety features it has equipped. Your boat should have fire extinguishers, life vests (as required by law), and radios for emergency communication.
  • Where you live. Areas which have a higher risk of hurricanes or floods are going to be much more expensive.

For most people, buying boat insurance is cheap enough it makes sense to add-on a plan.

If you have a boat valued at less than $15,000, your plan could be less than $25 every month.

Why would you not want to get this protection?

RV Insurance

Maybe you’d like to be able to hit the open road whenever you want.

If you own a home, you get homeowners insurance.

Many RV owners consider their vehicle to be a home on wheels, so of course you need excellent coverage to protect it and everything inside of it.

Your insurance is going to be determined by the class of the vehicle, class A, B, or C.

  • Class A RVs are the biggest kind, spanning as long as 45 feet.
  • As you can guess, Class B is smaller, usually fitted for only one or two people.
  • Class C is a little different. These are campers built into a truck or van. They don’t have as much room or all the bells and whistles, but they are typically much more affordable.

Your rates are going to differ on the kind of the RV, where you live, and how much you drive if every year.

It’s probably obvious, but a Class A RV is going to be much more expensive than a Class B.

In fact, the difference will probably be several hundred dollars.

RV insurance has the same kind of protection as your traditional car insurance plan: collision, comprehensive, liability, etc., but it also has other kinds of protection.

Every auto insurance carrier will have additional riders you can add to your recreational vehicle protection.

If you only use your RV for recreational reasons, you can suffice with just traditional RV insurance with no additional protection.

If you’re a full-time RV driver and you do most of your living out of it, then you’re going to want more coverage.

You also might want to consider full replacement coverage.

If you were ever involved in a tragic accident and your RV was totaled or it was stolen, then this coverage would pay to replace the vehicle.

If you spend a lot of time in your RV, especially full-time, then you probably have a lot of valuable belongings in your vehicle.

This is why you should have personal belongings coverage on your plan, which functions like renters insurance.

In most cases, this will protect up to $5,000 in belongings.

You may want to consider adding some additional liability protection as well, like vacation liability.

Most RV-ers will park their vehicle at a state park or in an RV park.

While you’re at the park, if someone were to injure themselves, they would be able to sue you, and you would be responsible for paying for medical bills, making liability coverage a must.

RV Insurance Quotes

After you’ve decided how much and what kind of RV insurance you need, you need to know how much you’re going to pay for this plan.

You’ll be happy to know, RV insurance is usually cheaper than a standard auto insurance plan.

The average RV insurance policy is $550 annually.

If you have a smaller RV which doesn’t have its own motor, you can pay $250 or less every year.  

If you spend a lot of time in your RV, you’ll want to give it the protect you and your belongings deserve.

RVs are a massive investment, especially if you have a lot of your personal belongings in there.

Do You Need Additional Coverage?

If you have an RV or a motorcycle, more than likely, you HAVE to have some insurance.

Most states are going to require you to have some liability insurance.

Aside from just meeting the minimum requirements to be legal, you should also take some other factors into mind when you’re reviewing your insurance needs.

If you’re still wondering what kind of plan you should purchase or how large of a plan you need, we highly suggest talking to an insurance agent before continuing.

Getting The Best Insurance Quotes

Regardless of which kind of insurance policy you’re buying, either RV, motorcycle, boat, or any other, you should do your homework before.

Don’t buy a policy before you decide how much coverage you need.

If you buy before researching, you can end up with too little insurance or more coverage than you need.

Also, you probably aren’t going to get the cheapest policy available.  

Every insurance carrier is different.

Not all of them have these additional insurance plans; some of them have different riders, and others are going to sell cheaper policies.

Not only should you determine how much you need before you buy, but you should also compare carriers.

You want a company who is going to offer timely payments, effective customer service, and quality coverage at an affordable price.

Most people automatically buy their additional plans from the insurance carrier they are already using for their other policies.

This can be a good or a bad decision depending on the company.

Just about every insurance carrier has a multi-policy discount or a bundle policy discount.

The more plans you have with the company, the higher the discount they give you.

Just because a carrier is giving you a discount doesn’t make them the best choice.

Even with the discount savings, your original company might not be the cheapest option.

Never buy a new plan before shopping.

The easiest way is to ensure you’re getting the best plan is to use a quoting tool.

Quote tools will bring you a lot of companies’ plans all at once.

The tool on our page will allow you to gather a bunch of plans for your insurance needs immediately.

All you have to do is answer a few questions about your plans and your needs.

It’s as simple as that.

Instant Quote
About Jeff Root

is the owner of rootfin.com. He's an independent life insurance agent who has helped 1,000's of consumers purchase life insurance online and over the phone.

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