Yes — just like how car insurance works, motorhomes and camper vans require mandatory coverage, as required by law in your province. Depending on where you live, mandatory coverage will vary but will always include liability coverage. If you're looking to protect your vehicle against any physical damage, adding enhanced coverage to your policy is ideal. You can purchase:
- Collision or Upset: Covers damage to your RV/motorhome caused by a traffic collision with another vehicle/object.
- Specified Perils: Covers damage from only certain risks outlined in your policy (e.g., fire, hail, theft, etc.).
- Comprehensive coverage: Covers damage from all potential risks outlined in your policy, excluding Collision or Upset.
- All Perils coverage: Covers damage from a collision and all the potential risks outlined in your policy.
By opting into one or more of these coverage options, you'll help protect your investment from theft or other covered losses.
A recreational trailer, on the other hand, is a bit different than car insurance. Because these trailers are motorless and are typically attached and towed by your own vehicle, it isn't mandatory to insure it. However, consider your investment and the elevated risk of loss or damage to your recreational trailer. You'll probably agree that it's a good idea to add some form of coverage to provide financial protection should something happen. Like a motorhome, you'll have the option to add enhanced coverage options (mentioned above). Additionally, you can also add liability coverage. This will help cover situations where the trailer becomes detached from the vehicle towing it and causes property damage or injury to a third party.
If you already have an existing car insurance policy with TD Insurance, you can add your RV to your policy as an additional vehicle. If you're new to TD Insurance, you can either purchase RV insurance separately, or switch your car and/or home insurance to TD Insurance which can help you qualify for additional savings.