How are your motorhome insurance premiums calculated?
One of the biggest factors influencing the cost of your motorhome insurance is the initial cost of purchase. However, there are lots of other variables to consider which will have a noticeable impact on your premium
Here are the most prominent ranking factors that will be taken into account by your insurance policy provider:
No claims bonus and claim history
It should come as little or no surprise to discover that your claim record is one of the biggest factors that will influence the end cost of your premium. If you are a careful driver with no previous claims then you could find yourself 67.5% better off – and that’s a HUGE saving! In order to reap the rewards of a saving this large – you will need to have a clean record and on a claim which dates back 5 years plus.
Of course – that’s just for the maximum savings. If you have been driving a motorhome for three or four years and you have only claimed once for something minor – then you should still be entitled to at least some form of discount. For those who are new to motorhome driving, there are special introductory offers available which take into account any other insurance policies – such as car insurance – and the driver’s level of experience in terms of towing caravans or driving other large vehicles.
How many people are you expecting to drive your motorhome? By adding more drivers such as friends and family members – you can expect the discount to be changed to reflect their insurance histories.
If you have any previous driving convictions then this will increase the cost of your insurance from the word go. In terms of occupations, if you are a bus or lorry driver with a good record then your premiums will be lower than those of window cleaner with a small van. With “type of use”, the frequency and intended usage of your motorhome will be taken into account when calculating the cost of insuring. If you only plan to use your campervan at weekends, for leisure purposes, then the cost of insurance will be lower than for someone who intends to use an RV for going to work every day.
Two other factors that will be taken into account are security and where the RV will be kept or parked. If you are in a crime spot – then your premiums will be higher. If you keep your motorhome locked up overnight then this is much better than parking it out on the street – and so on.
If you’re motorhome is a large American RV then it will be more expensive to insure than a coach-built or panel van. The size and body type will also affect the cost of insurance.
