Trying to find Insurance for my 1972 Boler

[MarieC]

Does anyone have a recommendation for insuring my refurbished Egg for an agreed-upon value? It's a 1972 Boler 1300 and I live in AZ. I've tried Progressive, Nationwide, Haggerty, RV America, Grundy and Chubb. They want to insure it for the $4k I paid for it originally. I have close to $18k into it (don't laugh). I just want to protect it in case of total loss for about $15k. Thanks guys!

[k corbin]

Originally Posted by MarieC

Does anyone have a recommendation for insuring my refurbished Egg for an agreed-upon value? It's a 1972 Boler 1300 and I live in AZ. I've tried Progressive, Nationwide, Haggerty, RV America, Grundy and Chubb. They want to insure it for the $4k I paid for it originally. I have close to $18k into it (don't laugh). I just want to protect it in case of total loss for about $15k. Thanks guys!

Insurance for vehicles does not work the way you are hoping.

Just remember that insurance companies deal with a lot of people attempting to defraud them. So of course they are not going to believe your claim for 15K on a trailer that is typically valued at 4K. You will have to find a company that specializes in writing alternative policies and it won't be an auto insurance company. Then you are going to have to document everything, have it appraised by an agent of the insurance company, etc.

[John in Michigan]

See this link at Tin Can Tourists website:

https://tincantourists.com/trailer-insurance/

As stated in the above link, FCIS (Farm and City Insurance Services) in Forest City Iowa will provide an agreed value policy after you provide them with a professional appraisal.

[sharon_b]

try state farm?

[Kai in Seattle]

I don't know if our insurance company works in Arizona, but they've insured Peanut for the $10,000 we have in it, based on some for sale on the internet that were comparable in age and asking price.

It's not much cost, anyway, compared to auto insurance, and they said they frankly have not had a trailer claim yet. Which is good news, really.

It's the Secord Agency in Seattle, WA. 1-206-783-4024.

Someone else on FGRV got trailer insurance through them when I referred them...but I'm not sure what state.

Good luck. We've been satisfied with our coverage through them (they broker a number of companies--the one they helped us choose is MetLife and covers our car, trailer, and house).

BEST
"K"

On the other hand, we haven't made a claim other than a broken car window, which they handled fine.

So who knows? Their people are personable and seem to know their business.

[Denise Jones]

State Farm insured my 1976 Scamp.

[inkslinger]

Would it be possible to add it as an addition to your home insurance?

Where I live, my trailer isn't even insured as a vehicle. It's an addition to my home insurance policy, by default (presumably, if I was renting, it'd be part of my tenant's insurance). It's registered as a "permanent trailer" and has no insurance requirements, because it's not a vehicle.

Obviously, the law varies by jurisdiction, but adding it on to your home insurance, similar to how you might add a separate clause for an expensive engagement ring, may be worth looking into even if you still have to have normal vehicle insurance which will only ever value it at the original purchase price.

[Phil Murray]

Will second the vote for Met Life. Been with them for about 40 years and always satisfied. Not cheapest, but best service and fair on claims.

[RogerDat]

Use our for sale listings and fiberglassRV4Sale.com (I think that is the site) to find comparable listings. Print those off. Best done well in advance, spring when prices tend to be higher is also good. Keep those on file in case of a claim being needed. First thing a claims adjuster will do is look up "value" and offer payment or repair based on that. Having paperwork to show "real" value can help cut through some hassle.

Get an appraisal of the current value. You may have to hunt for an appraiser that can accurately and fairly assess your campers value.

Now for the possible bad news. Doesn't really matter what you spent, it matters what the market value of the finished camper is. One can spend way more on enhancements and repairs than the underlying item can support. You might have a body off complete frame re-build but it only adds the same value as same model with a functional frame in good condition. Despite the cost of the frame re-build possibly being significant amount of money.

You can easily spend more on home, vehicle, or RV than the items resale value can ever cover. I had a niece who put $10k into the bathroom in a $30k house. Really nice bathroom but did not make it a $40k house. A sink, tub, and toilet are expected, nice ones add some value but only up to a point. Receipts would have allowed for replacement in the event of a fire but only up to the value of the house not the house plus $10k spent on bathroom.

Only way to get the value from putting value added investment into something is for you to keep it and use it. Market won't necessarily pay you back for it. Insurance company may not insure you against the amount spent above market value.

[alan H]

I have Allstate

[JenPB]

Originally Posted by Denise Jones

State Farm insured my 1976 Scamp.

State Farm may have insured your Scamp, but if they treat trailers the way they treat autos, they won't pay out on it. We had our van/TV insured with State Farm for 17 years before having a claim. They wanted to total it for a ruined hood & core support which I ultimately replaced in my driveway with rudimentary tools and a knowledge of LEGOs. I'm no longer with State Farm.


That said, I'm also searching for trailer insurance. GEICO tells me my TV insurance extends to the trailers for liability, at least. They pay out depreciated value based on original sale price of trailer (from 1972?!), and finding that price has been difficult. If anyone here can point me to a resource for original sale prices of 1972 Compact Jr. trailers (and 1990 Shelby two-horse, slant-load with tack room), that'd be great.


At this point, I feel better knowing liability insurance is at least extending to the TOAD.


OH...and I learned GEICO at least won't insure a flatbed trailer for any price.

[Jon in AZ]

Last time I asked, State Farm will total a vehicle when the repair cost exceeds 75% of the depreciated value of the vehicle based on NADA. Beyond around 12 years or so it’s probably not worth keeping full coverage. I wouldn’t expect Geico to be any different. They all work pretty much the same.

It kind of sucks when you have an older vehicle that you love and have maintained well. We’re in the same boat with our 2006 CR-V.

I do have my Scamp insured with State Farm. My expectations are low, like the premium. I can’t say as regards State Farm specifically, but others have had success negotiating higher settlements on totaled molded fiberglass trailers by submitting comps (ads for similar trailers gathered from current and archived classified ads here and at fiberglass-rv-4sale.com). Again, I doubt Geico will be much different.

Mandatory liability coverage always extends from the tow vehicle. Trailer insurance is only for collision and comprehensive damage to the trailer itself. There is no requirement to carry insurance on a trailer.

We’ve been with State Farm for 35 years, with one at-fault accident, several not-at-fault accidents, and countless windshields (3 within two months last year). Claim service was excellent, we’ve never been hit with a surcharge, and their premiums are lowest every time I’ve shopped around. Consumer Reports consistently ranks State Farm in the top five.

That’s been my experience. As they say, YMMV.