As an owner of a recreational vehicle in Nashville, NC, you enjoy the freedom it offers for occasional trips. To help offset its cost, you rent it out to others for specific periods. While you have an RV insurance policy, you might be uncertain if it will protect your investment if your renter gets into an accident or causes damage. For comprehensive protection, consider discussing your options with Steiner Insurance Group.
Standard RV Policies Often Exclude Rental Coverage
Most personal RV policies exclude rental coverage, so it’s essential to read your policy carefully to understand what provisions may be available. Given that the cost of repairing these vehicles is higher than that of most cars and large SUVs, purchasing additional coverage can be a prudent decision. If you rent your RV through a website, the company may require RV rental insurance before you list the vehicle. Some insurance providers allow you to add a rental endorsement to your existing policy. However, before opting for an endorsement, ensure it provides sufficient coverage to protect the vehicle in the event of a total loss.
What Other Options Are Available?
If you rent out your RV to others, you may need a commercial RV rental policy. If you rent out two or more RVs, a commercial policy becomes crucial. Another option is to obtain RV rental insurance through various online platforms that list your vehicle. Determining the cost of RV insurance can be challenging, but most owners incorporate the cost into their daily rental fees, allowing renters to absorb most of the premium cost.
Learn how to protect your RV when someone else uses it adequately. Contact Steiner Insurance Group, serving Nashville, NC, to schedule your consultation.
