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Are you planning to purchase a recreational vehicle in Arlington, TX? It’s crucial that you adequately protect your new investment. Given the high costs associated with these vehicles, finding the right insurance policy and understanding the nuances of its terms are vital. At Rickey McGill Insurance Agency, we can provide you with the appropriate policy to safeguard your investment.
1. Distinguishing Between Part-Time and Full-Time Living
Selecting the correct designation is where many RV owners falter. Insurance companies categorize RV owners based on their liability risk. Part-time RV users utilize their vehicles only occasionally. On the other hand, full-time RV users use their RV at least 150 days a year. Full-time users are further divided into those who maintain a physical home and those who don’t. Coverage for the latter will typically be more comprehensive. Hence, ensure you choose accurately.
2. Deciphering Actual Cash Value, Replacement Value, and Agreed Value
Understanding these terms can be challenging. If your RV is brand-new, you qualify for replacement value in the event of a total loss. You can choose between actual cash value or agreed value for those not qualifying for replacement value. Actual cash value provides a payout of your RV’s worth at the time of the loss. A third-party evaluation is necessary for the agreed value to ascertain the payout amount.
3. Importance of Personal Contents Coverage
Your RV stores a multitude of personal belongings, especially if it’s your full-time residence.Likeo home insurance, it’s beneficial to have coverage for your clothes, electronics, and other items. Specific risks, such as severe storms, can damage the interior contents even if your RV remains intact.
Your RV insurance policy can be tailored to meet your specific needs. The experienced professionals at Rickey McGill Insurance Agency, serving Arlington, TX, can explain your coverage options and design a customized policy. Contact our office today to begin the process of obtaining your quote.
