How it works
When an owner signs up to advertise their RV and assigns a value to their RV, the price of the minimum daily insurance to be charged to the renter is determined. Standard RVshare Rental Insurance is automatically included when a renter checks out and they can choose to upgrade their insurance package if desired. Things to know:
|Owners are provided up to $1,000,000 in liability coverage for both RVshare Rental Insurance and Liability only insurance. Comprehensive and collision coverage for the value of their RV up to $200,000 is also included with RVshare Rental Insurance but not Liability only insurance.||When a renter books a reservation through a listing that has active RVshare Rental Insurance, basic Standard RVshare Rental Insurance is automatically included in the rental quote.|
|RVs 15 years old or newer, with a stated value of $200,000 or less, will automatically be approved for coverage whether motorhome or travel trailer. RVs older than 15 years are only eligible for liability coverage.||The renter can choose to upgrade coverage to Enhanced of Premier at checkout. Once the renter completes checkout, the renter is sent their addendum via email. RVshare Rental Insurance covers both domestic and international renters.|
General Types of Insurance
There are four basic types of coverage that apply to both RVs and other vehicles – Liability, Uninsured/Underinsured, Collision, and Comprehensive
- Liability Coverage – Liability Coverage protects you from legal liability for bodily injury and property damage you cause to others. It does not cover injuries to you and your family, and it does not cover damage to your own vehicle. It is the coverage that is legally required in almost every state.
- Collision Coverage – Collision insurance is a coverage that helps pay to repair or replace a vehicle if it’s damaged in an accident with another vehicle or object.
- Comprehensive Coverage – Comprehensive insurance is a coverage that helps pay to replace or repair your vehicle if it’s stolen or damaged in an incident that’s not a collision. Comprehensive typically covers damage from fire, vandalism or falling objects (like a tree or hail).
- Uninsured/Underinsured Motorist Coverage (not included in RVshare insurance) – Uninsured/Underinsured Motorist coverage provides coverage when an at-fault party does not have insurance or has insufficient amount of insurance coverage of their own.
Insurance Industry Words to Understand
- Addendum – An addendum is an addition to an insurance contract that either adds or removes coverage for a particular circumstance. At RVshare, customers are added to our master policy on a rental-by-rental basis. When the insurance payment is processed, we email owners and renters their addendum. The addendum serves as proof of insurance for the rental.
- Excess policy – With an excess policy, the primary insurer is first responsible for defending and indemnifying the insured in the event of a claim. RVshare’s excess policy provides coverage above an underlying limit of primary insurance. Said differently, RVshare coverage kicks in after any primary insurance that may apply, but the majority of time RVshare’s insurance is primary insurance.
- Underwriter – Underwriting is the way an insurer works out how much to charge for each risk they cover for each person who buys an insurance policy, and under what terms. For RVshare, NGIC is the underwriter and MBA is the broker.
- Broker/Agent – Agents and brokers act as intermediaries between you (the insurance buyer) and insurers. Both have a legal duty to help you obtain appropriate coverage at a reasonable price. An insurance agency sells policies on behalf of insurers. In RVshare’s case, MBA sells the policies underwritten by NGIC.
- Commercial insurance – Commercial insurance (also called business insurance) is the term used for business owners who purchase insurance policies which can, in turn, compensate them for financial losses arising out of certain events. For insurance purposes, renting an RV is considered a business.
RVshare Insurance Coverage
While RVshare insurance coverage is provided to owners and renters regardless of RV type, there are certain listings that do not qualify for our insurance. This includes RVs that have a stated value over $200k or towable RVs that are older than 15 years.
A few things to understand about coverage:
- Owners who are eligible for RVshare Rental Insurance are covered with collision, comprehensive, and liability. Owners who are eligible for Liability only insurance have liability coverage. The owner liability exists in the rare case a renter sues an owner.
- Renters who book an RV with RVshare Rental Insurance activated are provided collision and comprehensive coverage. For the rental of a motorhome, renters are also provided the minimum liability coverage as dictated by state (see state limits). Trailers are not provided liability insurance through RVshare Insurance as this should extend from the tow vehicle’s policy.
- Renters who book an RV with RVshare Rental Insurance activated are automatically covered with the basic Standard coverage and are able to upgrade to Enhanced or Premier coverages when they check out. These options offer increased coverage and lower deductibles. Learn more.
- Renters who book an RV with Liability only insurance activated are provided state minimum liability coverage. Comprehensive and collision coverage is not included and will need to be obtained elsewhere.
- Coverage on an excess basis – If there is damage, any primary insurance (whether personal or commercial insurance) will kick in first and then the RVshare insurance will be secondary or also known as excess. If there is no other policy in place that provides coverage, our policy will then be primary.
IMPORTANT: As an owner, be sure to validate your personal insurance policy permits rentals. If your personal policy does not permit rentals, you may be liable to be dropped from your policy. This may also occur with any applicable warranties.
What Do I Need to Make a Claim
There are two main actions to take after a reservation is completed if there should be claim:
- Complete the checkout form
- Submit a claim through the MBA portal
Completing the Checkout Form
In your dashboard, go to: Reservations > Submit Damages and Overages.
Completed departure and return forms are required to be submitted to RVshare’s Customer Support team in order for any reimbursement requests made against the security deposit, or to reserve payment for damages sustained during the rental to be considered.
Photo proof is the most important thing you can do before and after a trip to prove damage.
In the unlikely event that a renter’s own policy covers their rental, NGIC can pursue, reimbursement for whatever they paid out for the loss on the renter’s primary policy.
Filing a Claim
The Departure and Return Forms must be completed, signed, and dated within 72 hours of the rental end date and the owner/renter need to file the claim through the MBA portal within 30 days of the rental end date.
Failure to do so could result in an increase to the RVshare Rental Insurance deductible or rejection of a reimbursement request.
This form can be found by navigating to: Rental Insurance > Claim Center > File Claim Online