RV owners understand the value of freedom, convenience, and affordability of using a recreational vehicle. However, if it is mainly used for the occasional trips, then it is safe to assume it is left to sit unused most of the time.

If you are an RV owner who indulges in the occasional trips, you must rent your RV to make some passive income. You may ask what kind of insurance I need to rent out my RV or which insurance policy would be right for me. Read on to find the answers to these Questions.

Can I Keep Using My Existing RV Insurance?

Traditionally, most RV Insurance companies don’t allow you to rent your RV. They will deny claims related to rentals and can drop your coverage if they learn you have been renting it out. Thus, once you start renting out your RV, the type of insurance you should have will be completely different from the one you had initially.

You now need two different types of RV insurance. Let’s understand these types before you begin renting:

  • An insurance policy that covers you during the rental period
  • And, Insurance outside of the rental period that allows you to rent

Insurance Needed During the Rental Period

Some insurance companies require their renters to buy a package that covers liability, collision, and comprehensive coverage.

It also covers medical payments if the renters cause bodily injury to someone. Some insurance companies cover repair or replacement costs that should be caused either by the renter or someone else.

Qualifying for Outdoorsy’s Insurance for Owners

In total, there are three requirements for an RV owner. The primary would be to have a qualifying vehicle. The second is that outdoorsy should approve each of your RVs when you add them to their site; the third is for the renter. Each individual you rent needs to pass Outdoorsy’s driver verification process.

Insurance That Lets You Rent

Finding this kind of insurance is tricky because it provides coverage for your RV for the time outside of the rental trip that allows you to rent. Some insurance companies cater to enthusiast RV owners like these and have drafted specialty RV insurance for such people. Under such policy, you are not required to inform them when you rent, nor does it require additional daily fees.

Should I Still Keep My Traditional Insurance Policy?

After switching to specialty insurance, you don’t need to keep your traditional insurance policy. Just inform your insurance provider that you’ve made the switch, and they will be required to reimburse you for any days you have already paid for.

Insurance Needed by the People I Rent To

Insurance companies also offer daily insurance for the people you rent to. In such a case, the renters must pay for this type of insurance to cover any physical damage to your RV as part of their rental.

As an RV owner, you don’t pay a dime in the form of additional premiums or monthly fees for taking such insurance.

Scautub Agency Can Help You With RV Insurance!

You cannot put a price tag on your peace of mind. This is why RV Insurance exists. It gives you and a renter the comfort of knowing the RV is insured while you explore. Got questions about the RV insurance coverage? Contact us at Scautub Agency, and our insurance agents will answer all your questions regarding RV insurance.