Travel Trailer Pros and Cons

Average Cost to Insure a Travel Trailer

5th Wheel Travel Trailer
Getty Images/Chris Clor

So you’ve decided to join the ranks of retired Americans, adventurous families, and wanderlust-filled solo travelers by purchasing your very own home on wheels. Before you look at shiny makes and models, it’s important to decide whether you want to invest in a motorhome or a travel trailer.

There are lots of advantages and disadvantages to owning a travel trailer as compared to a motorhome. Here are a few of things to consider before choosing your ideal investment home on wheels and making your purchase.

Cost of a Travel Trailer:


Without a built-in engine or drive train, the cost of a travel trailer is almost always less than for a motorhome, oftentimes significantly less. In addition, a travel trailer tends to hold its value longer than a motorhome. You will, of course, require a towing vehicle and, depending on the size of your trailer, its cost can far outdistance that of the trailer itself -- and your gas mileage in the original vehicle will be significantly reduced when you’re driving around lugging something that can be twice its size1

Convenience of a Travel Trailer:

One big advantage to a travel trailer is that once you have reached your campsite you can unhitch it and use your towing vehicle to run errands or take in the sights.

Restrictions While Traveling


One major disadvantage of a travel trailer is that you can't have anyone riding around in it while you are on the road. All of your fellow travelers will have to join you in your towing vehicle until you are stopped.

Financing

In most cases, you will not be able to spread out payments for a travel trailer as much as for a motorhome, so monthly costs can be on the high side. But since they already cost less, to begin with, if you’ve saved up before making a purchase, this may not be that much of an issue.

Insurance

Insurance on a travel trailer is very reasonably priced.

Most travel trailer policies run annually and often average $200 or less a year. Of course, there can be a big variation in price depending on where you live, the value of your trailer, and your personal factors such as driving record, age, and credit score.