11 Jul Thinking About Motorhome Insurance? Here’s What To Know
Travelling around New Zealand in a motorhome is one of the best ways to see the country from the comfort of your own home. With amazing landscapes, an excellent road system, and an abundance of unspoiled areas to explore, a motorhome holiday is the ideal way to travel at your own pace. But don’t get caught out if something goes wrong. Check that you have the right motorhome insurance to cover any event and get back on the road again quickly. If you’re thinking about motorhome insurance, here are some things to consider.
1. Why do I need motorhome insurance?
While motorhome insurance is in New Zealand, it makes financial sense to protect your motorhome, just as you would with car insurance, house insurance and contents insurance. Having the right NZ insurance cover in place in the event something goes wrong provides peace of mind. With motorhome insurance, your motorhome is protected against the risks you could face when driving or parking up.
Replacing the high-value item if it’s involved in an accident, is stolen, damaged or destroyed by fire could set you back thousands of dollars and put an end to your motorhome dreams. With so much time spent on the road or being parked up outside, the risk of damage from accidents or other events is an important consideration for motorhome owners.
Some of the most common risks associated with motorhomes include:
- Reversing into tight spots or taking corners too sharply. It can be tricky manoeuvring a large motorhome into a small space even with a reversing camera, while not taking a wide enough angle when turning can lead to panel damage if corners are cut.
- Driving on dangerously slippery roads. Motorhomes are big and heavy and require more traction to stop tyres from slipping when driving in icy conditions. Failing to stop on time or being unable to stop due to the condition of the road could lead to an accident and cause significant damage.
- Fire damage. Because your motorhome is essentially a home on wheels – a place where you sleep, eat and travel – the risk of fire damage is a real threat, and an important consideration for motorhome owners.
- Theft or loss. A high-value item such as a motorhome may be a target for resourceful thieves. Without motorhome insurance, you could end up covering the cost of repairs or replacement out of your own pocket – an expense many owners would find hard to cover.
2. What does motorhome insurance cover?
Depending on the level of coverage, motorhome insurance policies may cover against accidental damage, fire, and theft, and many also include towing and temporary storage, windscreen and glass repair or replacement. Optional extras can also be added on, such as cover for contents that are permanently stored inside your motorhome.
Before deciding on motorhome insurance cover, get advice from an expert like those at Max Insurances, and ensure you get the right amount and right type of cover to fit your needs. Whether you choose to protect your motorhome with comprehensive insurance cover or third party, fire, and theft insurance cover, we at Max Insurances can help find the most suitable insurance policy at a competitive price.
3. What isn’t covered by motorhome insurance?
It pays to go over the terms of your insurance policy as, similar to other types of NZ insurance, there are some exclusions to motorhome insurance. While motorhome insurance usually covers accidental damage, common exclusions include wear and tear, breakdown and mechanical, electrical, or electronic failure. For these types of events, it’s best to consider Mechanical Breakdown Insurance. Our team at Max Loans can help you arrange Mechanical Breakdown Insurance to cover the costs associated with breakdowns, or an Emergency Loan to help pay for unexpected costs you incur with your motorhome that you’re unable to pay right away.
4. Does motorhome insurance cover other drivers?
While motorhome insurance policies can vary in coverage, they often extend coverage to other drivers who have your permission to use your motorhome. The coverage typically applies as long as the other driver meets certain criteria, such as holding a valid driver licence. However, a high excess may be required when you make a claim.
To gain a comprehensive understanding of your policy’s terms, conditions, and any potential limitations or restrictions regarding other drivers, it’s recommended to consult with an experienced Insurance Adviser, like those at Max Insurances.
5. How can I lower my premiums?
Smart ways to lower the cost of your premiums include:
- Multi-policy discounts. Combining various insurance policies– including car insurance, house insurance, and contents insurance – with motorhome insurance could provide a significant saving on premiums.
- Increasing your excess. Choosing to pay a higher excess will lower the cost of your monthly or annual premiums. However, don’t get caught out in the event you need to claim by ensuring you can afford to pay the higher excess.
- Change your payment term. Most insurance providers offer a discount if you choose to pay your premium annually rather than monthly.
While the cost of insurance is understandably important, choosing insurance cover based solely on price doesn’t necessarily provide the most suitable option. Talk to an experienced Insurance Adviser from Max Insurances about your specific needs, to find the right motorhome insurance at the best price.
Plan your next motorhome holiday with ease
With a clearer understanding of motorhome insurance, knowing you and your family – and your valuable asset – are protected if something goes wrong, head out on your next road trip with confidence and explore New Zealand without a worry.
For help buying your dream motorhome or to get cash in a hurry with a holiday loan, contact the Personal Lending Team at Max Loans. For advice about NZ insurance cover, talk to the team of Insurance Advisers at Max Insurances.
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