Three out of four American adults are planning to vacation this summer, and many of them will hit the road in a recreational vehicle. RV ownership has surged during and since the pandemic, according to the trade group GoRVing.com. The group also reports that 11.2 million households owned an RV as of 2021. RV insurance can run customers roughly $125 per month on average, MarketWatch reports, with motorhome insurance for full-timers rising to as much as $3,000 per year. The slideshow above illustrates top insurance carriers for covering an RV, according to Forbes Advisor. Editors there took into account such details as insurance cost and available coverages to determine their list. RV costs in general range from about $20,000 to about $100,000 for a towable trailer, HomeGuide says. Motorhome prices average $50,000 to $600,000, with some luxury RVs reaching $2,000,000. (These prices do not include sales tax, dealer or registration fees.) Meanwhile, the cost to rent an RV is much cheaper, with average prices coming in between $50 to $350 or more per day, according to HomeGuide. Certain types and sizes of RV's may require a CDL license, while specific requirements and weight limits may vary by state. |
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Joe Toppe
Joe Toppe serves as managing editor of PropertyCasualty360.com. Joe is also a father of three, an author, and longtime lover of baseball.
