RV Insurance-What You Need to Know
Recreational vehicles (RVs), including campers, motorhomes, and fifth-wheel trailers, can face many of the same risks as everyday cars. However, their larger size, higher value, and dual use for transportation and living require specialized insurance protection. Whether you live in your RV full-time or use it for occasional getaways, understanding and securing the right coverage is essential. At Cleary Insurance, Inc., our team can help you learn about RV insurance and find the right coverage.
What Does RV Insurance Cover?
RV insurance typically combines elements of both auto and homeowners insurance, reflecting the hybrid nature of RV use. While coverage needs can vary depending on your vehicle, personal circumstances, and location, you’ll likely find value in the following:
- Bodily injury liability coverage—Similar to auto insurance, this type of coverage in your RV policy can help pay for other parties’ losses if you’re at fault for an accident on the road.
- Property damage liability coverage—Also bearing a resemblance to its auto insurance counterpart, this part of your RV insurance may assist with vehicle repair or building rebuild costs if you damage someone else’s property in an accident.
- Vacation/campsite liability coverage—This part of an RV insurance policy can extend liability coverage to include incidents occurring while your vehicle is parked, such as if a guest is injured while visiting your campground.
- Collision coverage—If you’re involved in a crash while driving your RV, such as striking a tree, colliding with another vehicle or scraping against a guardrail, this part of your policy can financially assist with repairing your vehicle.
- Comprehensive coverage—Fires, theft, vandalism, and natural disasters can all represent significant threats for your vehicle, but this part of RV insurance can account for subsequent losses.
- Personal property coverage—Your RV can house more than just you and your passengers. This coverage can assist with losses involving its contents, including appliances, electronics, camping gear, and other belongings.
- Medical payments coverage—This part of RV insurance can provide financial aid for medical bills if you or your passengers are injured in an accident, regardless of fault.
- Loan assessment coverage—If you live in a campground or RV park, this part of your policy can help with losses and expenses if the managing association charges you for repairs to common areas.
- Roadside assistance coverage—Exploring the world in your RV may require you to be equipped with this type of coverage, which can help pay for towing and other fees should your vehicle break down during a trip.
While shopping for RV insurance, you may encounter the term “full-time RV insurance.” This policy typically includes more of the aforementioned components, such as vacation/campsite liability coverage and loan assessment coverage, and is generally advisable if you use your vehicle as your primary residence.
Is RV Insurance Required?
In most states, self-driven RVs require you to have RV insurance. These laws typically mandate at least bodily injury and property damage liability coverages, although details may vary depending on where you live and plan to travel. Alternatively, if you tow your RV, such as a fifth-wheel trailer or pop-up camper, you might not have to follow the same legal requirements, since your towing vehicle’s auto insurance can cover potential third-party damages.
You should also be aware of other possible obligations. For example, if you’ve purchased your RV with the assistance of a lender, they’ll likely require you to carry certain levels of RV insurance until you’ve paid off your vehicle. Specifically, many lenders may require collision and comprehensive coverage. Additionally, some campsites and RV parks may require insurance before you can settle in.
How Much Does RV Insurance Cost?
Since there are many types of RVs and ways to use them, RV insurance rates can vary significantly. Carriers must carefully analyze your situation and personal details to assess risk levels and calculate appropriate pricing. While exact quoting processes may vary, you can generally expect the following criteria to be considered when shopping for RV insurance:
- Location, including where you live, travel, and store your RV
- Vehicle specifications, such as its size, type, features, age, and value
- Your details, including age and driving record of all insureds
- Use habits, such as whether you live in your RV full time and its estimated annual mileage
- Claims history
- Coverage levels, such as your deductible and what you include in your policy
How to Get the Right Policy
Your RV can unlock the world, allowing you, your family, and your guests to embark on epic adventures and enjoy time off the grid. However, even a single accident or mishap can derail your travels, disable your vehicle, and impose expensive financial ramifications. Acquiring and maintaining appropriate RV insurance may, therefore, not only be a legal requirement but also a critical investment. Contact Cleary Insurance, Inc. today to begin exploring your coverage options and building an optimal policy.
© 2025 Zywave, Inc. All rights reserved. This Know Your Insurance document is not intended to be exhaustive, nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice.
Liberty Mutual Workplace Safety Index 2025
Liberty Mutual has released its latest report on workplace safety, revealing that accidents at work cost U.S. employers around $58.8 billion each year. Remarkably, the most common causes of these injuries account for a staggering 86% of those expenses, totaling about $50.87 billion.
This year marks the 25th anniversary of the report, which highlights the ten main reasons people get seriously hurt at work—specifically, incidents that lead employees to miss more than five days of work. The report ranks these causes based on the medical expenses and lost wages associated with them.
Interestingly, while serious workplace accidents have declined by about 40% over the past 25 years, the overall costs related to workers’ compensation have gone up by 30%. This information comes from credible sources like the Bureau of Labor Statistics and the National Academy of Social Insurance.
The leading cause of workplace injuries remains overexertion, primarily due to heavy lifting and moving materials, which cost about $13.7 billion. This has been the top cause for 25 years. Following that, falls on the same level, such as slipping or tripping, are the second biggest issue, costing approximately $10.5 billion. This highlights the importance of having good safety measures to prevent such accidents.
Other significant causes of workplace injuries include being struck by objects or equipment and falling from heights, both of which add nearly $11.6 billion to the total costs. Additionally, injuries from over-exertion, vehicle-related accidents, and becoming caught in equipment are also major concerns, showing just how varied the risks at work can be.
Interestingly, the costs related to injuries from repetitive tasks have dropped by 44%, suggesting that safety initiatives are effectively reducing these incidents. Another notable mention is injuries from workers being struck by objects or equipment, which add up to about $1.7 billion.
The report also indicates that a large portion—56%—of injuries involving the back, shoulder, knee, or multiple body parts contribute nearly $32.6 billion to overall costs. Seven out of the ten injury causes listed this year have been recurring themes in all 25 reports published.
Accidents can and do occur, but understanding your risks and implementing preventative measures can help reduce their frequency. Cleary Insurance is here to help. Please call us to ensure you are doing everything possible to prevent unforeseen accidents.
Keep in mind that each index is based on data from three years earlier; thus, the findings this year reflect data from 2022.
To read the Liberty Mutual 2025 Workplace Safety Index please click here 2025 workplace Safety Index.
What is your risk tolerance when it comes to investing?
Before deciding on an investment strategy and portfolio mix, there’s a crucial piece of information you need: Your risk tolerance profile.
Simply put, risk tolerance is defined as the amount of risk that an investor is willing to put up with given the volatility in the value of an asset or investment.
While everyone’s risk tolerance is different, several factors will help determine your individual risk tolerance — and the amount of risk you’re willing to take in your investment strategy.
- Time horizon: How old, or young, you are and when you will need or want to use the money is a primary factor in your risk tolerance. Generally, the younger you are, the more time you may have to recover from losses in higher-risk investments. The older you are, the more risk averse you may be, worried that you won’t have time to recover from stock market losses.
- Impact on lifestyle: The amount of money you are comfortable allocating to investments will contribute to decisions regarding your personal risk factor. If your lifestyle depends on the money you invest, your risk tolerance will be different from another investor whose money, if lost, won’t alter his or her day-to-day living.
- Knowledge of investing: Some riskier investments require an in-depth knowledge of investing and may not be appropriate for someone who has limited knowledge. The more investing knowledge you have, the more comfortable you might be with a more aggressive portfolio.
- Personal comfort level: Your natural inclination may be to be more aggressive, or more prudent, which can have an effect on your investment decisions.
Online investment calculators can help assess your risk tolerance and provide a hypothetical asset allocation mix for you to consider. Generally, these asset allocation models may vary depending on which calculator you use.
Here are three of the most common types based on a risk profile quiz, that you can take yourself:
- Conservative: 70 percent cash/bonds, 30 percent stocks
- Moderate: 40 percent cash/bonds, 60 percent stocks
- Aggressive: 15 percent cash/bonds, 85 percent stocks
Additionally, there can be two extreme models, although either is unlikely in actual practice:
- Short-term/No risk: 100 percent cash/bonds
- Ultra-aggressive: 100 percent stocks
Your risk tolerance profile can help to appropriately diversify your portfolio for the level of risk you are willing to accept. Being diversified means combining a variety of assets to offset potential risks or volatility in any one particular asset. This strategy often works because different classes or categories of investments may not move in the same direction at the same time. One may go down in value, while another goes up. But while diversification can help mitigate risk, it won’t eliminate the chance of a market loss completely. Nor will it guarantee a profit.
By doing a little research, through reputable investment research firms or information provided by your employer-based 401(k) plan, you can fine-tune your investment portfolio. Your risk tolerance profile will help you select the right mutual funds, stocks, and bonds from the multitude available. And in the end, you’ll likely have a portfolio that meets your unique needs.
Provided by Matthew Clayson, courtesy of Massachusetts Mutual Life Insurance Company (MassMutual). CA Insurance License # 0I01304
©2024 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001 MM202708-310101