Is RV insurance required?

By Samantha Lemna | April 24, 2019

  RV insurance is not required by law in Canada although motorhomes must carry a minimum amount of liability insurance just like any other car on the road. If you lease or are making payments on your RV the lender may also require you to have insurance as part of the loan terms in order to protect their investment. In any case RV insurance is still a great idea to protect your valuable recreation time.

Required Insurance for Motorhomes

Just like all other vehicles on the road across Canada motorhomes are required to carry a certain level of liability insurance. This minimum varies across the country but in Alberta it is $200000.

Liability insurance will cover the cost of injuries and damage to a third party if there is an accident. It does not offer any coverage for your own medical care or physical damage to your own vehicle. In order to reduce your out-of-pocket expenses you’ll need to have speciality coverage. You can get a quote and even purchase your policy online with RV Direct .

Lenders Require Insurance

If you’ve financed your trailer or motorhome your lender will likely require you to have insurance on your RV. This generally means comprehensive coverage so that your unit is protected from a variety of damages including accidents storms fire and lightning. What is required may vary by the lender some may not require insurance at all but you will be expected to pay off the loan if the RV is written off.

Benefits of RV Insurance

Regardless RV insurance is a good choice to protect your recreation time and your wallet. RV insurance provides you with a lot of benefits:

  • Replacement cost or actual cash value

  • Coverage for your belongings

  • Coverage for any outbuildings on a permanent lot (deck shed et cetera)

  • Liability coverage

  • Vacation expenses (also known as trip interruption coverage)

  • Roadside service across Canada and US

  • 24/7 specialized claims service

  • Travel discounts and advice

  •  RV-sharing (through Outdoorsy)

  • Golf cart and ATV coverage

  • Fulltimers and snowbird packages

You can customize your insurance from the above options so that it fits you and your budget. Talk to a broker for details or get started online .