How Much Is Motorhome Insurance in 2024?

Whether you’re planning a long road trip or a quick weekend away, owning a motorhome in the UK is a fantastic way to experience everything the country has to offer. Just like any other vehicle, a motorhome needs insurance and you might be wondering “How much is motorhome insurance?”.

There are many factors that influence motorhome insurance costs from motorhome type to your driving history and in this blog, we’ll cover them all so you can find the best deal for you. 

Want to get out on the open road? At Auto Finance we offer finance for motorhomes at the best rates on the market.

What Factors Affect Motorhome Insurance Cost?

The cost of motorhome insurance varies greatly based on a number of factors. Gaining a better understanding of what causes price differences will help you budget and plan for purchasing motorhome insurance.

Motorhome Class/Type

The size, class and age of your motorhome model all influence your insurance costs.  If you opt for larger more luxury classes like A or C motorhomes this will raise your insurance costs. The age of your motorhome also affects your insurance costs, with a brand-new model costing more to insure than an older or pre-owned model. 

If you want to know more about motorhome classes and how they work we have a useful blog explaining the differences. 

Type of Coverage

Comprehensive insurance, third-party, fire and theft, and third-party only coverage are the three main types of insurance coverage. Comprehensive insurance offers the greatest protection for you and your motorhome as it incorporates all types of insurance, but it is however typically the more expensive option. Evaluate what level of cover you think you’ll need for your motorhome and this will give you an idea of price. 

Usage 

If you only use your motorhome for occasional trips or short distances, then you might be able to get your insurance cheaper than someone who regularly travels long distances in their vehicle. 

Driving history and Licence

Your driving history also affects how much your motorhome insurance premium will be. If you’ve got a perfect driving record you’re more likely to be able to benefit from the best rates. If you’re a new driver, or you don’t have much experience on the road you could be subjected to higher premiums. 

How Much Is Motorhome Insurance on Average?

When calculating your motorhome insurance budget, bear in mind that while motorhome insurance rates vary according to different providers, there is a general range that you can use to guide your budget. The most recent motorhome insurance rates from April to June 2024 are quoted at 

£424 a year.

Touring caravan insurance prices are also listed at £139 a year, so if you want to minimise insurance costs you may want to consider financing a caravan instead. 

Remember that this is just an average and that numbers can change. The majority of websites claim that popular 2 year old motorhomes cost around £346 to £350 to insure each year.  With this in mind, if you’re buying a standard class B motorhome you can be expected to pay between £350-£500 on motorhome insurance, with prices rising with the addition of luxury add-ons and upgrades. 

Additional Insurance Options

When asking “How much is motorhome insurance?” you should also consider any additional insurance options you might want to select for extra protection. Whilst these can increase your costs, they can provide some important cover:

Contents Insurance

If you’re going on long trips you’ll likely have your valuables with you including phones, electronics and even personal documents like passports and other IDs. This insurance is essential for protecting you against damage or theft in the rare case your items should be stolen.

Breakdown Cover

Breakdown cover is a necessity for motorhome owners as it guarantees you’ll receive help and support should your motorhome break down whilst on your travels. Some breakdown cover plans also include specialised recovery services designed specifically for motorhomes.

Loss of Use

If your motorhome is stolen or damaged to the point it is unusable for a period of time, you can purchase loss-of-use insurance that provides compensation for the time you’re unable to use your vehicle. 

European Cover

The great thing about motorhomes is that they can be driven outside of the UK, but if you want to take your vehicle across the channel it’s important to ensure you’re covered in your insurance policy before you begin exploring Europe. 

It’s important to note that insurance isn’t the only cost when financing a motorhome. As well as the cost of monthly loan repayments, you’ll need to factor in things like motorhome MOTs, fuel costs and motorhome road tax. 

How to Reduce Your Motorhome Insurance 

If you’re concerned about the cost of your motorhome insurance there are a few steps you can take to reduce your payment amount. 

Invest in Security

If you invest in protective measures like additional locks, alarms and motion sensors this can reduce your risk of theft and break-ins, thereby reducing your premium amount. 

Search for the Best Deal

In the same way you’d want to hunt for the best motorhome finance deal, you should search around for the best insurance prices. Different companies have different packages at a variety of prices so ensure you take the time to shop around and find the best one for you. 

Become a Motorhome Club Member

There are some amazing benefits of joining a motorhome club and one of them is potential discounts and offers. Some insurance companies provide recognised clubs with discounts or deals on their premium. You can also experience exclusive access to certain campsites and facilities that would otherwise cost money to enter.

Wallet-Friendly Finance with Auto Finance

So how much is motorhome insurance? By now you know how much you’ll be expected to pay for insuring your vehicle. At Auto Finance, we want to give our customers the best deals out there with our motorhome financing options. Before you agree on a plan, use our finance budgeting calculator to identify your monthly repayments.

Is a motorhome not for you? Indulge in extra space with our horsebox finance options.

Whatever vehicle you choose, our team at Auto Finance are available for contact for any finance queries or advice. Let us help you get out on the open road in the perfect motorhome for you.