The cost of RV insurance depends upon several factors. First, the resale value of the RV in question accounts for a significant proportion of the vehicle's insurance costs. Newer, more expensive RVs will naturally cost more to insure than used models.
The risk of theft, break-ins and vandalism plays a role in insurance-cost calculations as well. While RVs aren't nearly as likely to be stolen as regular automobiles, they can be prime targets for burglars and vandals. This is especially true when they're left unattended at a home park or campsite. The geographical location of a given RV's home park is the largest single determinant of its risk of sustaining damage due to burglary or vandalism. As such, an RV that spends the bulk of its time in an area with high rates of property crime will cost more to insure than a vehicle kept in a quieter area. RV insurance companies use ZIP code information to make these determinations of risk.
The risk of road accidents can dramatically affect the cost of RV insurance. Since most RV driving occurs on high-speed highways and rural roads, RVs that are driven regularly run the risk of involvement in serious accidents. In addition, repair costs for a typical RV far exceed the costs of repair work performed on a typical automobile due to the RV's elevated resale value and the potential scarcity of replacement parts.
The physical size of an RV will have an impact on its insurance costs too. American insurance companies use three size classes to categorize the country's RVs. Class A RVs are full-size luxury motor homes that provide sumptuous full-time living arrangements for their owners. Also known as "camper vans," Class B RVs are usually smaller and less luxurious but may still be occupied on a full-time basis. Class C RVs are even smaller and less comfortable. Full-time insurance premiums for Class A vehicles may exceed $2,000 per year while premiums on Class B vehicles may run between $1,000 and $2,000 per year.
Most RV insurance policies don't cover interior furnishings or personal possessions. While some insurance companies offer policy riders for customers interested in protecting the valuables stored in their RVs, it's generally more cost-effective to take out a separate insurance policy on each valuable item. Many RV owners also choose to store their valuables outside their vehicles in safety-deposit boxes or secure storage units.