Recreational Vehicles such as Travel Trailers have come a long way from the old Tent Trailer of the 70s! These days, they are mini "homes on wheels" with many of the same comforts. And, just like a home, it's important to make sure your RV is properly insured.
Typically, during the first 10 years of an RV's life, Guaranteed Replacement Cost coverage is available from most Insurers. This coverage provides you with a claim settlement of a current model, equivalent to your unit, in the event of a total loss. The policies take into consideration that the unit may not be used 12 months of the year, and act as a storage policy during the winter months.
For those that take their RV south for the winter or are exploring throughout North America, there are packages available to provide additional premise liability, personal liability and contents coverage. Usually your home policy would extend worldwide for contents and liability coverage, but it's always good to check with your Home Insurance provider and confirm!
If your unit is going to be permanently located in an RV Park, it should blocked and skirted. Keep in mind that if you add a deck to the RV or build a shelter to protect the unit, these structures can potentially form part of the unit and may require additional insurance. If you've made these kinds of changes or additions, please check in with us to quickly see if your coverage is reflected correctly in your current policy.
You treat your RV like a home in so many ways; doesn't it make sense to insure it along with your home? When you take your home on the road, we believe you should have peace of mind. The Auxilium Team is happy to provide you with a referral to our trusted partners for a consultation and quote.
Auxilium Mortgage Corporation is based in Victoria, BC and works with clients locally and across Canada. The Auxilium team has over 100 years of combined financial experience and access to dozens of lenders to help you meet your goals.