Scamp Insurance Help - Fiberglass RV


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Old 08-26-2014, 10:20 AM   #1
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Name: Ted
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Scamp Insurance Help

I'm trying to get insurance on our 2002 Scamp 5er. I went through our local Nationwide insurance company that we have auto and home through. They can give a policy for $187.00 for the year with $250 on Comp and $500 on Collision. Problem is they need a certified value of unit in currant condition. I ask if they could send someone out to do that and they don't do that. They said they can skip the certified value part but if something happens and the camper is totaled then they would only give an estimated cash value at the time. Everyone knows these FG units are valued differently. I know I could sell mine now for $11,500.00. I am checking through another RV insurance dealer and waiting to see what they say. Anyone have any advice on who they use and how they estimated the insurance value. Thanks in advance.
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Old 08-26-2014, 11:14 AM   #2
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Name: RogerDat
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Use the for sale ads here and at Molded Fiberglass Trailers | Fiberglass RV's For Sale go through and find ones of same model and print them off. Keep them as a record of "value" of trailer.

Best to get the threads for those for sale in the spring and early summer when prices are high.

Most ads will list amenities, mention floor plans etc. Many will have pictures. The for sale archives and current for sale threads can in effect provide full documentation of value. Does not prove actual sale price but if there is a "it's sold" posting with a date that date might be worth recording if it shows the trailer sold rapidly with the asking price listed.

Same model more important than same year. Actually the high price of ones older than yours supports the concept of maintaining value.
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Old 08-26-2014, 11:26 AM   #3
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On my Boler the insurance company would only insure for the value I paid for it ($4,000) unless I had a certified appraisal done. With all my modification and customizations complete I started to contact different appraisers in my area. It took a number of phone calls explaining what I had and needed, I ended up using an appraiser in Calgary who has an excellent reputation for appraising vintage and custom vehicles and hot rods (he was very familiar with Boler’s as a number of clients have matching units) but he had never actually appraised a Boler.

He indicated that the appraisal process is very standard and could be applied to any vehicle, taking my complete itemized list of modifications and receipts. He went over every inch of the trailer, photographing everything. He asked if I would help finding comparable trailers that had sold (he didn't care what the asking price was, he needed the price it was sold for), this was the hard part as there really are no direct comparisons for the modifications and work I did but I did provide a selections of renovated Boler’s, modified vintage trailers of similar size, and cost of new comparable units.

He completed a very comprehensive 10 page report that documented the complete project and justifying the comparators he used. In the report he appraised the value at $24,000. My insurance company accepted the new appraised value and provided coverage for $24,000 on the Boler and an additional $6,000 on content all for only $49 more a year

Since your Scamp is close to stock finding comparisons will be easier, as Roger mentions go through the Sold listings and document (make copies with links) of comparible units, ask your insurance company if they will accept the comparisons and increase the value from that information or if they require a certified appraisal report. The documents will make the job real easy for the appraiser to work from.
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Old 08-26-2014, 12:05 PM   #4
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Send a message via Yahoo to Darwin Maring
Try Good Sam and Haggerty.
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Old 08-28-2014, 07:48 AM   #5
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Yea my problem is they also want a certified appraisal or they will only do a cash policy which means if something happens I would only get their estimated cash value at the time which they said would be lower than $4000. I can't seem to find anyone to appraise it. What a mess. All I want is for a decent insurance policy. Grrrrrrrrrrr
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Old 09-10-2014, 08:53 PM   #6
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I finally got insurance on my 2002 Scamp 19'. I will be making a long drive to upstate N.Y. in October and thought I'd better step up. I had a real hard time explaining that it was worth than $4000.00. After some advice from RogerDat, I printed off about 20 different sales of Scamps that were in my year range. Finally yesterday I was cleared without an certified appraisal for insurance for $11,000.00 for only $138.00 per year. Thanks for the advice.
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Old 09-11-2014, 03:18 AM   #7
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Good job Ted, over time maybe insurance companies may look at these molded trailers in the real world.
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Old 09-11-2014, 10:47 PM   #8
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Ted,
Glad to see you got that resolved. I got mine through Progressive, an "agreed value" policy where we pay based on the agreed amount that the contract is set to pay in case of total loss.
I'll be watching out for your Scamp in NY as we'll be passing through there in 2 weeks and again in 5 weeks.
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Old 09-11-2014, 11:52 PM   #9
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I have an agreed value policy as well. But I had to show the agent some current ads for the same model and year trailer and they said that should I have an accident they will again want me to prove the value and suggested I do as Ted has done and keep a file on all trailers I see ads for sale for that are the same model and year and options and condition as mine as proof that it actually is worth that much more than the blue book value.

Every year when its time to renew my insurance I pretty well have to have the same conversation with them as they want to devalue the trailer each year.
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Old 09-24-2014, 07:55 PM   #10
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Quote:
Originally Posted by papa-t View Post
I finally got insurance on my 2002 Scamp 19'. I will be making a long drive to upstate N.Y. in October and thought I'd better step up. I had a real hard time explaining that it was worth than $4000.00. After some advice from RogerDat, I printed off about 20 different sales of Scamps that were in my year range. Finally yesterday I was cleared without an certified appraisal for insurance for $11,000.00 for only $138.00 per year. Thanks for the advice.
I meant to say "worth more than $4000.00".
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