For RV insurance to be comprehensive, it needs to provide protection for both the RV and its contents. A choice needs to be made between insuring the market value of the RV and the things and insuring the replacement value.
Market value is what something could be sold for today. Imagine putting something up for sale on eBay and receiving the proceeds from an auction of the items. That is its market value. Market value may be high if the item is a treasured thing; however, usually, market value is lower than the replacement value.
Replacement value is the amount necessary to buy a brand-new item of the same or similar type and quality. For example, if you have a hairdryer that you could only get a few dollars when selling it on eBay and yet a new one of the same type costs $50, then the replacement value of the old hairdryer is $50.
The Benefits of Insuring Replacement Value
RV users get more benefit by having replacement value as long as they want to continue using their RV. The main concept is to be able to keep going on RV trips with the same kinds of things you always take along.
Make an Inventory for Replacement Valley
The get insurance coverage for replacement value, you need to make an inventory of the items For the R, this means the make and the model of the RV and any accessories it has. For personal property, it is the make and model numbers of all the content of the RV.
It is helpful to make a video of everything and describe it in the video. Take a copy of the video along with copies of any receipts you have to your insurance agent at Ty Lawrence Insurance Agency, serving Dripping Springs, TX and the nearby area.
Your agent will use this inventory to make a recommendation for RV insurance with a replacement cost that is adequate for your needs. Call to speak to your agent at Ty Lawrence Insurance Agency in Dripping Springs, TX to get a quote for RV insurance.