How Much RV Insurance is Needed?

Driving an RV can be a great way to see the country and enjoy time with your friends and family. While a recreational vehicle is designed to be a lot of fun, they are also expensive and are an important investment that needs to be properly covered by insurance. For those that are in the Charlotte, NC area, figuring out what their RV insurance needs are is very important.

State Requirements

Similar to any other type of vehicle, those that operate an RV are subject to minimum insurance requirements in the state of North Carolina. In North Carolina, and operator of an RV will be required to have liability coverage of at least $25,000 for property damage as well as minimum bodily injury coverage of $30,000 per person up to $60,000 per accident. This type of liability coverage will only provide financial protection for the other party in the event you are at fault in an accident.

Lender Requirements 

While the state only requires you to carry minimum levels of liability insurance coverage, if you have a loan on your recreational vehicle you will likely also have to carry collision and comprehensive insurance coverage. Collision and comprehensive insurance coverage will provide you with a wide range of other types of coverage including theft, damage from a storm, or if you are in an accident with an uninsured motorist. Generally speaking, you will need to have coverage with limits equal to at least the amount of your outstanding loan balance.

Since picking the right RV insurance policy is so important, those that are in the Charlotte, NC area would benefit greatly from meeting with the Jim Boyce Insurance company. The Jim Boyce Insurance company will be able to help you pick the right insurance policy for your situation to ensure you were compliant with all requirements.