Last Updated on January 9, 2021
Traveling can be one of the most promising experiences you can embark on with your friends or family. It will allow you to bond with them, and to see beautiful landmarks and formidable nature. However, people often don’t consider the importance of being prepared should a disaster strike. Since travelers usually use their vehicles, here are some reasons why extra insurance for your vehicle might be a life-saving idea when you’re traveling.
Types of vehicle insurance coverage
There are many types of car insurance coverage that cover a broad range of situations that they can protect you against should they happen. Liability coverage includes bodily injuries and also any property damages and is generally required in most states. What this means is that if you happen to be in an accident and someone gets hurt, or you damage their property, your insurance will cover all the costs. Comprehensive coverage also helps you pay for damage to your vehicle, but only if it’s not caused by a collision.
It protects you in situations such as theft, vandalism, and natural disasters. Another common coverage for vehicles, especially during traveling are collision coverage and PIP. Collision coverage help owners pay for damage to their vehicle if you get hit by another car, or if their vehicle rolls over. It’s generally required if your car is either leased or financed. PIP stands for personal injury protection, also referred to as no-fault insurance. It can pay for medical expenses regardless of who is at fault in an accident.
How much cover do you need?
Whether or not you need extra insurance for your vehicle depends on the amount of time you plan to spend on the road, and sometimes it can depend on the destination. If you’re taking an hour drive, no additional insurance is necessary, however, if you plan to spend a week out on the road, you should consider additional insurance for your vehicle so you don’t have to think about what might happen and to keep your passengers safe and protector from liabilities. How much insurance cover will you need for your vehicle depends on which aspects you want to cover.
As stated in The Wandering RV’s guide, the highest level of insurance you can get is called a comprehensive. It protects the contents of your camper, including any expensive camping or climbing gear and personal possessions. Personal possessions insurance is an option and can be covered as an add-on. Additional covers are third party theft and fire (TPTF), and third party only (TPO) policies. These options can be more affordable than comprehensive, but you will have to pay for repairs all your own.
How much does the insurance cost?
The cost of insurance for your vehicle when traveling depends on many factors that start with your age and your home address. Secondly, it depends on your driving history, as well as any insurance claims you might have made previously. The longer no claim bonus means that you will be rewarded with cheaper insurance. An additional aspect that determines how much your vehicle insurance will cost is how long you’ve been a driver – the more experience you have driving a particular vehicle, the cheaper deal you will get.
The make and model of your vehicle will also play a key role in the cost of insurance. If the mileage is high, the price will be higher. However, if you have been using your specific vehicle for shorts periods during the year, it might bring the cost down. Having access to vehicles other than the one you will be using for travel will likely reduce your premium. And the price will go up if you want to add other named drivers to your vehicle insurance policy.
Additional insurance coverage
Additional coverage is optional insurance coverage that isn’t required by law, and they are a mere suggestion for people interested to protect themselves, their passengers, and their property. This can be especially important if you’re taking a long cross-country road trip. Gap insurance or loan/lease insurance can protect you if your vehicle happens to be either leased or financed, as we’ve mentioned before. If your car gets damaged, it will pay the difference between the actual cash value of the vehicle, and the unpaid balance of the loan or lease. Other types of additional coverage are roadside assistance, and accident forgiveness.
Roadside assistance can help you have peace of mind because you will know that if your car breaks down, help will be just a phone call away. This kind of coverage costs much less than most of the independent services. Accident forgiveness refers to a special type of coverage. Since many responsible drivers are concerned about the possible premium impact of any violations and accidents, a solution was created with these kinds of packages. They include accident forgiveness and minor violation forgiveness which are becoming quite popular among insurers.
How to make insurance cheaper
The cost of comprehensive can be quite a hefty sum. Even if you decide not to go with full vehicle insurance when you’re traveling, there are still some ways you might be able to save up on your vehicle insurance cover. The first thing you need to make sure you’re doing is to pay the insurance annually in one go because in most cases it will be the cheapest option. Another way you can save up is through security improvements.
Consider devices that offer security for your vehicles such as specialized vehicle alarms and wheel clamps. These will not impact the cost of your insurance immediately but will pay off in the long run. Additional ways you can save up is to be sure to park somewhere where it’s safe, and not to fall for insurance add-ons. Parking on the road comes with a risk of being robbed, making insurance more expensive. The add-ons can quickly become one huge expense if you don’t read carefully and select only what is essential.
Having extra vehicle insurance will without a doubt make you more relaxed during your travels because you won’t have to think about what will happen if an accident occurs, or you get robbed. Be careful to consider all the ways you can protect yourself, without incurring any unnecessary costs of additional coverage.