Depending on the size of the RV and time of year, a customer can expect to spend between $80 and $300 a night plus between 35 cent and 50 cents per mile to rent one. Since RVs cost anywhere from $10,000 to $400,000 to purchase, renting an RV can be a much more affordable alternative. In addition, RV insurance costs $848 a year on average. Although liability insurance is the only type of insurance an RV needs from a legal standpoint, owners may also decide that they want to buy extra coverage, such as comprehensive and collision insurance, which protects the vehicle itself. In addition, vacation liability RV insurance can protect RV owners against liabilities when the vehicle is parked at a designated campsite. While buying coverage from one of the best RV insurance providers may help keep costs down, these extra expenses make owning an RV even more expensive compared with renting a vehicle for individual trips.