How Are RV Insurance Rates Determined in Haltom City, TX

A number of specific factors go into determining RV rates, but they generally fall into one of two groups. First, insurance companies base their rates on the value of the insured item, the RV. Second, they assess their level of risk, so anything that affects an RV’s chances of being damaged affects the rates. Here is a more specific breakdown.

The Value of Your RV

An RV insurance policy is designed to compensate either you or the bank for the loss of the RV if it is totaled. Therefore, the value of an RV significantly affects the insurance premiums you will pay. It costs more to insure an RV that is worth $75,000 than it does to insure one that would only sell for $15,000. Upgrades and after-market parts may also affect the value of the RV and raise the associated premiums.

The Risk of Damage

Determining the value of an RV is fairly straightforward. Assessing the risk of it sustaining damage is more nuanced. When trying to determine the likelihood of a claim, and insurance company may look at:

• the RV’s location in Haltom City, TX
• how much the RV is used
• your driving record
• your credit score

In addition to these factors, some insurance companies offer discounts for security systems. These do not reduce the risk of an accident, but they do lower the chances of someone breaking in and stealing insured items that are located inside the vehicle.

Get a Customized Quote

To see how these factors affect your RV insurance rates, call one of our local agents in Haltom City. Together, we can go over each aspect of your insurance policy and help you find ways to lower the rates you are currently paying.