RV Articles

Total Loss Replacement Offers Peace Of Mind

Let's face it. No matter how careful you are, bad things sometimes happen: fire, accidents, inclement weather. When things go wrong, your insurance should be there for you. But even if your adventures are problem-free, your insurance should provide you with continuous peace of mind.

Whether you are a full-timer or a leisure traveler, protecting the investment you have made in your RV is no doubt important to you. That's why you have insurance. However, not all insurance policies are created equal.

Many RV policies base a total loss settlement on the blue book value. In just one year, depreciation can take a huge toll on the original value of your RV. Thus, a traditional policy from most insurance companies could leave you with significantly less cash than you need to replace your RV. Total Loss Replacement Coverage is an innovative solution to this problem.

With Total Loss Replacement Coverage, if your loss occurs during the first five model years, you receive full replacement value on your RV, protecting your investment from depreciation.

For example, say today you buy a new 2010 Discovery Diesel Pusher for $150,000. Two years down the road, your engine catches on fire. Before the fire department arrives, the entire motor home is engulfed in flames, rendering it a total loss. If you have Total Loss Replacement Coverage, you are entitled to receive a like make and model vehicle to replace your lost RV.

If a 2010 model is unavailable, then a like model may be substituted. If the same type of total loss occurs seven years later instead, you would receive $150,000-your full purchase price-as reimbursement. If, after your loss you decide to give up RVing and you don't accept the replacement vehicle of like make and model, Actual Cash Value of your RV at the time of loss is paid.

When you consider the value of this protection, you can see why so many RV owners choose Total Loss Replacement Coverage. If you don't know if your insurance policy features this coverage, contact your insurance agent today.

Disclaimer: The information in this article was obtained from various sources. This content is offered for educational purposes only and does not represent contractual agreements, nor is it intended to replace manuals or instructions provided by the manufacturer or the advice of a qualified professional. The definitions, terms and coverage in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.

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