Parking your recreational vehicle for the winter might have you thinking about ways to save money. Cutting costs is a smart move, but pausing your insurance coverage may not be the best approach. Canceling your RV insurance in the winter carries risks that you should consider carefully. Even when your RV is in storage, it’s still exposed to potential damage.
The Risks of Canceling Coverage
What could possibly happen to an RV when it’s not on the road? Well, a surprising number of things can go wrong. Stored vehicles are vulnerable to theft, vandalism, and fire. Falling objects, such as tree branches, can damage your RV, or pests could decide to make it their winter home. There’s also the risk of severe weather, such as hail or flooding, which can cause substantial damage to vehicles even while parked. Without comprehensive coverage, you would be responsible for paying for these repairs out of your own pocket. A total loss could mean losing your entire investment.
In addition, some storage facilities require proof of insurance before allowing you to keep your RV on their property. Canceling your policy could mean losing your spot or having to search for alternative storage solutions, often at greater inconvenience or cost.
Understanding Your Policy Options
Instead of cancelling your policy, a better path might be to adjust your coverage. Many insurers offer storage-only options for recreational vehicle insurance. This allows you to suspend the parts of your policy you don’t need, such as liability and collision coverage, while keeping the essential comprehensive protection. This protects your vehicle from non-driving-related incidents.
Selecting storage-only coverage is a safer, more balanced alternative to canceling your RV insurance in the winter. It keeps your RV protected and often satisfies the continuous coverage requirements of lienholders if you have a loan. Plus, a storage-only policy usually comes at a lower premium, freeing up space in your budget without sacrificing protection. This type of coverage is designed for parked vehicles, so you can rest easy while your RV hibernates for the season.
Keep Your RV Protected With the Right Coverage
It’s wise to speak with your insurance provider before making any changes. They can explain your options and help you find a solution that protects your investment while fitting your budget.
Are you looking for affordable and reliable RV insurance? Contact Saferoad Insurance today to get a quote and explore your coverage options.