Don't cancel that RV insurance just yet
The economic climate has been increasingly difficult for RV owners given the relatively high expense of maintaining the vehicles - but that doesn't mean they're ready to give them up and cancel their RV insurance policies.
According to the Recreation Vehicle Industry Association, a recent survey finds that 55 percent of RV owners are planning to use their vehicles more this spring and summer, while 45 percent are considering another purchase. The association said that only 4 percent plan to use their RVs less this year, while, in a possible sign that some owners are cutting back on expenses, 75 percent said they plan to take more mini-vacations this year. The group also said that one main reason RV owners plan to travel and even buy new vehicles in the current economy is that at least 75 percent believe they save at least 25 percent on combined travel costs like airfare, car rental and hotels.
In another sign of the economy's influence, 94 percent of those in the survey say there are currently "great deals" available on RVs. With that in mind, many consumers may also find themselves in the market for RV insurance. Still, not everyone is jumping for great deals. The New York Times recently featured the struggles of some high-end RV producers in Oregon as they deal with strains like the credit crunch and a struggling economy.
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