Recreational vehicle. Although you might be able to add an RV to your auto policy, it may be more appropriate to purchase a specific RV policy. An RV policy typically includes coverage similar to a standard automobile policy, with features suitable for larger, more expensive vehicles and the RV lifestyle. Many insurance companies have special packages for “full timers” (people who use their motor homes as a primary residence). Boat. A boat insurance policy can be customized for any type of watercraft, whether it’s a yacht, power boat, sailboat, fishing boat, pontoon, or other variety. Coverage may include bodily injury and property damage liability, physical damage, and medical payments. The amount of coverage might be tied to the current market value of the boat, the full replacement cost, or a specific amount of coverage agreed upon when the policy is purchased. You might want optional coverage for a range of hazards including theft, fire, flood, vandalism, uninsured/underinsured boaters, and the replacement of personal property kept on board. Motorcycle. If you ride a motorcycle, you need motorcycle insurance. Most states have specific minimum liability coverage requirements similar to those for automobiles. Guest passenger liability may not be included in a standard policy, but it can typically be purchased separately. Standard collision and comprehensive insurance will cover only the factory parts on your motorcycle, subject to deductibles and policy limits. If you have special upgrades or accessories such as a side car, chrome parts, or a custom paint job, youmay want to obtain additional coverage for optional equipment. Specialized Policies for Fun Seekers Here’s what you should know about insuring your investment in an RV, boat, or motorcycle.
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