How to Understand Terms With RV Insurance in Ohio

Willoughby, OH residents love their RVs, but they sometimes don’t like the complicated insurance terms that come with RV ownership. At the Merhar Agency LLC, we think that for RV insurance in Ohio, the terms are not as complex as they sound. Like every other insurance policy you have, there are standard coverages and optional coverages.

Standard Recreational Insurance

The standard coverages for recreational insurance include liability coverage, and property damage coverage.

Liability coverage will cover you in the event that you are in an accident, and found to be responsible for any personal injury or wrongful death that is the result. 

Property damage coverage will pay for any damage to your own property, and some property in the vehicle at the time of an accident, theft, or fire. 

Here you could have the actual cash value, agreed upon value, or full loss replacement of your vehicle when it comes to property damage.

Determining Value in RV Insurance

When you get RV insurance, a value is set in your insurance policy in the event of property damage.  The most common terms here are actual cash value, agreed value, and full loss replacement.

  • Actual cash value: This is a default option in RV insurance and what most policies have. If your RV is damaged, you will get paid according to what it is worth on the market that day. If you have a deductible, that will be subtracted from your payout.
  • Agreed value: This value is a value that you have set with your insurance provider when you get the insurance policy.
  • Full loss replacement: This amount is considered the best coverage, but not every RV will qualify. You will get paid for the full loss of the vehicle in the event of an accident. Many insurance companies will only provide full loss replacements on vehicles that are less than a year old, and will only allow you to carry this insurance for a certain number of years.

Get a Quote

When you are looking for RV insurance in Willoughby, OH, let the Merhar Agency LLC help you to understand the terms. Get a quote today.