A Q of Insurance - Fiberglass RV


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Old 11-26-2012, 01:59 PM   #1
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Name: Ken
Trailer: Scamp 13
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A Q of Insurance

I just got handed a bit of rot by Geico ! Having 4 cars insured with them I asked a quote to insure the Acorn I just purchased from Rich Law. The Quote was a bit over $ 100 bucks - to be added to my existing policy with a $ 500 deductible - they would insure it for no more than the $ 1200 that I purchased it for -- nothing for any future improvements or restoration --- conclusion -- BUMMER !

This makes no sense at all ..

So who do you like?
What companies have you had good experience with ?
Who should I stay away from ?

Many Thanks
Ken
Baltimore
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Old 11-26-2012, 02:09 PM   #2
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I have liability insurance only via my auto insurance. It might make sense for you to self insure for comprehensive / collision. I paid $2500 for my trailer.
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Old 11-26-2012, 03:00 PM   #3
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Go to the Good Sam Club web site. I have insurance through them. You can put the insurance on hold during the period you are not using the camper.

There are those who do not like Good Sam and those who do so I recommend you look their site over and make up your own mind.

Good Sam RV Club
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Old 11-26-2012, 03:07 PM   #4
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Quote:
Originally Posted by Thomas G. View Post
It might make sense for you to self insure for comprehensive / collision.
This is what I call going without. Since my trailer is covered for liability when hitched up, that is all I figure I need. If my Fiber Stream were brand new or a faithful Concours d'elegance restoration and was truly valuable, it might make sense. But it is neither, and I don't feel I need to pay for insurance.
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Old 11-26-2012, 03:47 PM   #5
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Quote:
Originally Posted by Ken Max View Post
I just got handed a bit of rot by Geico ! Having 4 cars insured with them I asked a quote to insure the Acorn I just purchased from Rich Law. The Quote was a bit over $ 100 bucks - to be added to my existing policy with a $ 500 deductible - they would insure it for no more than the $ 1200 that I purchased it for -- nothing for any future improvements or restoration --- conclusion -- BUMMER !
I presume you're talking about comprehensive-only, since liability for a trailer is usually provided by the policy on the tug...in my case, at no extra charge. If Geico is charging extra for THAT, I'd be looking for another company, too.

But if it's comprehensive that you're upset about:

You'll run into exactly the same thing no matter who you insure with. It may be something special to you, but as far as an insurer is concerned, it's just a trailer and worth no more than what you paid for it. Nobody will cover "blue sky', which is what you're asking them to do. You MIGHT be able to buy a higher specific dollar amount, but you'll have to be willing to pay for it, and demonstrate at loss-time that the amount claimed is justified by repair/replacement costs.

Francesca
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Old 11-26-2012, 04:36 PM   #6
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Our trailer insurance is through State Farm and covers comprehensive ($0 deductible), collision ($100 deductible), and Emergency Road Service for $22.40 every 6 months. There are no discounts applied to this rate even though we've been State Farm customers for about 37 years. I couldn't find the total amount covered on the policy webpage but it does list the purchase price at $3750, so I'm guessing that is the coverage amount. We know that we've put at least another $1500 into the trailer, so the insurance wouldn't cover it all. They list it in Illinois as a "Utility Trailer: 1986 UHaul TRL TANK." Yes, tank!
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Old 11-26-2012, 04:49 PM   #7
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Our trailer insurance is through State Farm and covers comprehensive ($0 deductible), collision ($100 deductible), and Emergency Road Service for $22.40 every 6 months. There are no discounts applied to this rate even though we've been State Farm customers for about 37 years. I couldn't find the total amount covered on the policy webpage but it does list the purchase price at $3750, so I'm guessing that is the coverage amount. We know that we've put at least another $1500 into the trailer, so the insurance wouldn't cover it all. They list it in Illinois as a "Utility Trailer: 1986 UHaul TRL TANK." Yes, tank!
You'd do well to verify that conclusion with your agent...in most cases, a payout is based on depreciated value. That $3750 is what you paid for it, so that's where they'd start. And they're not going to cruise sites like this one to come up with a number! They'll likely go straight to a "blue book", and when they don't find it there, they'll just do an "it's-this-old" calculation. In order to collect even your purchase price, you'd likely have to prove that worth at the time of loss and have full-replacement coverage to boot.

I know this from personal experience, having gone to the mat with our longtime insurer over a pristine 1978 Ford truck that was destroyed in a husband vs. tree event.

Francesca
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Old 11-26-2012, 05:44 PM   #8
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Tell your ins co you want to insure for "Replacement Value" up to a specified amount. I have used Allstate for about 40+ years and, when I had sports cars, a 1954 Corvette, several 20 y.o. motorhomes etc., all with special value considerations, I gave a stated value and paid the appropriate premium. What that means is if there is a partial or total loss that they will pay for repairs or replacement up to the actual replacement value or stated value, which ever is less. Then I keep a folder of recent advertisments for similar rigs, all my recent receipts for parts and service, as well as a current series of pics. When my 1987 Corvette was stolen and totaled, I found 3 local comps and they paid out more than $2000 over book, almost my total declared value.

Now, that doesn't mean you can insure a $5000 trailer for $15000 and expect to get that if totaled. It's all about current replacement value ....

BTW: My 1973 Hunter is insured for up to $8000 replacement value and it costs about $270 a year, you pay for what you ask for.
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Old 12-05-2012, 02:41 PM   #9
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Name: Ken
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Good Sam Insurance

I checked out the Good Sam Insurance making two separate phone calls and going through the process to speak with the liscensed insurance agent on duty both times.

I was told that the Road Service Insurance covers all of the vehicles in the household - and was not suspendable -- one could only cancel it.

That suspension of the insurance referred to the suspension of the collision coverage only - but kept in force the comprehensive - in case of damage to the trailer caused by weather , theft, fire etc .

Any Thoughts

Ken
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Old 12-05-2012, 04:02 PM   #10
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You might check for face value insurance from Grundy, Haggerty, or some other company which specializes in special interest vehicles.
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Old 12-05-2012, 04:19 PM   #11
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Quote:
Originally Posted by Ken Max View Post
I checked out the Good Sam Insurance making two separate phone calls and going through the process to speak with the liscensed insurance agent on duty both times.

I was told that the Road Service Insurance covers all of the vehicles in the household - and was not suspendable -- one could only cancel it.

That suspension of the insurance referred to the suspension of the collision coverage only - but kept in force the comprehensive - in case of damage to the trailer caused by weather , theft, fire etc .

Any Thoughts

Ken
I'm not sure which type of coverage you're talking about when you say "Road service insurance"...

We have a Good Sam roadside assistance policy, which is strictly for breakdowns etc. and not suspendable, of course. There's no liability/collision etc. attached to that policy.


Is your regular liability etc. coverage for your vehicles also with Good Sam, and that policy is the one referred to when talking about suspending coverage?

Francesca
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Old 12-05-2012, 08:41 PM   #12
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I cant help but wonder if an appraisal would be of value here...
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Old 12-06-2012, 08:33 AM   #13
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Name: Ken
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An appraisal -- had no thought of that --
When I get it home - and spruced up a bit - might be just the ticket.

Best quote I have found so far has been from Farmers Ins. co.

Any experienced comments on that company appreciated .


Most agents I have spoken to were very uninformed about camping trailers and totally reliant on their companies computer rating program - which they operate with an appalling deficit of both skill and insight. As a group they seem to evidence only marginal , listening skills which further inhibits the operation of said computer rating programs.

Man do I sound like a King size grump !

Sign of the times I suppose !

Ken
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Old 12-06-2012, 05:32 PM   #14
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We bought our trailer new. About $14k. For about $125/year we get comprehensive and collision from a local VT. insurance co. After three years I suspect we are down to 1/2 to 2/3 value which is still better that nothing. Since most Trilliums are at least 30 years old and less that 50 (guess) of the new ones were made, how I would prove value is unknown. In a couple more years I will probably drop it. I am finding more and more that things like insurance and warranties are pay now so you can argue later, especially with national concerns. Raz
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