RV insurance usually gives you three (3) options in case of total loss.

Market Value: Insurance coverage allowing for the market value of your RV at the time of loss.

Agreed Upon Value: Insurance coverage allowing you to determine an amount acceptable to you when getting RV insurance quotes.  The amount has to be set at the time of purchasing the insurance policy.  You are making an agreement on the amount you will receive from your car insurance company in the event of a total loss to the recreational vehicle.

Total Replacement: Insurance coverage that will replacement your recreational vehicle with a new one.  Most policies limit the amount of years this has to fall within (typically the first five years).