The physical damage premium on an RV is based on the approximate market value of the vehicle. For example, a vehicle with a $30,000 value should have a premium that is three times higher than a vehicle with a $10,000 value. The amount on your policy is only a guide. Even if you insure a vehicle for $30,000, but its current value is only $10,000, you will only receive $10,000 in the event of a total loss. Therefore, make sure when you speak with your agent you give an estimate of the current value of your RV.