So you crashed your trailer... and now you need a value! - Page 2 - Fiberglass RV


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Old 02-25-2009, 02:07 AM   #15
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Sounds like you EhLanders need to find someone qualified to do a 19a endorsement, so I would start with the insurance company(s) because eventually they are going to have to agree with the value anyway -- Surely this is not a new situation for them and they have lists of qualified people -- Those people may be biased towards the ins co, but you have a say in final agreement also, so that may not be much of a factor.

BTW, Donna, with my recent cancer surgeries, I have had out-of-pocket medical expenses last year, and will have the same again this year, that each case almost exceeded the replacement value of my Scamp. That medical insurance was NOT in the self-insured class in my book, whereas the Scamp is -- If I had a brand new egg, I would feel differently about it.

I will continue to self-insure against its loss -- I figure I am most likely to lose it in a vehicle wreck and depending on who is at fault, I may already be covered by the other guy's insurance -- It's parked in my garage, so it's unlikely to be stolen -- Bottom line, I see the risk as low and within my self-insurance.

My general rule of thumb on this is "Will the loss force a change in my lifestyle?" and couple that with the likelihood of the loss happening. That's why I carry the liability insurances like vehicle and homeowner's , and right now both are also covered against loss -- I was self-insured on my old truck regarding loss, but not liability -- One would not have been life-changing and the other would have been.

A collection of print-outs from the various sale places is an excellent idea, although generally the actual selling price may be hard to ascertain.
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Old 02-25-2009, 09:33 AM   #16
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Name: Phil
Trailer: 1977 Trillium 4500 (previously a 1978 Trillium 4500, Rpod 171 and Surveyor SV251)
Nova Scotia
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Phil, where do we find or create someone capable of appraising these things? Got any contacts in the field? Are there associations of appraisers? Are there ... ????

I'm with James, we need to find something.

Realistically, I don't imagine the rates to insure a $8G trailer will twice that of a $4G one. I know my wreck cost me about $600 when I got it, so I self insured. Since then, I've put $2-3 G into it in parts plus 3 years of PT labour. It is getting to the point where I would consider insuring. 2 more years and I will definately want it insured. Many of these old beasts are worth much more than they cost new so they have appreciated rather than depreciated in value.

What would you suggest?
Unfortunately, the company I work for in Canada does not offer the 19a endorsement. The only reason I know about it is due to my interest in collector cars. I do my best to warn people who want to insure their collector cars with us that they would be better off getting an agreed value policy with a specialist insurer. In the collector car hobby the best known one is "silver wheels" through lant insurance in Canada or Hagerty in the US.
The 19a endorsement should not be confused with a 19 endorsement which is there to protect the insurance company not the individual. What the wording ot the 19 endorsement says is that the insurer shall not pay more than the appraised value, in the event the vehicle has appreciated in value beyond the appraised value (think of wildly appreciating classic cars in the late 80's). It does not mean the insurer must pay the appraised value if the current value is less than the appraised value.

Due to the relative infrequency of claims involving [b]any recreational vehicle, new or old - after all, their time on the road is very limited compared to most cars, very few appraisers are familiar with them. Due to the time most trailers are stationary, most claims would be for minor things like hail damage, break-ns during the off season or perhaps fire. You certainly can't make a living out of appraising trailers, lol. I would say at best, find an automotive appraiser of collector cars or the like who is willing to appraise your trailer and perhaps has a personal interst in them, like us.

Basically, when it comes to making a claim, if you don't have an appraisal from a reputable automotive and equipment appraiser in hand, then it helps to have lots of photos showing the condition of your trailer - as well, you will need to prove the value of your trailer by providing examples of want ads of similar trailers as was mentioned in one of the earlier posts. Be patient and polite - it will be up to you to educate your adjuster on this very small niche in the marketplace that you and I are familiar with but most are not.
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Old 02-25-2009, 11:11 AM   #17
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Trailer: Boler 1984
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I would say at best, find an automotive appraiser of collector cars or the like who is willing to appraise your trailer and perhaps has a personal interst in them, like us.

Basically, when it comes to making a claim, if you don't have an appraisal from a reputable automotive and equipment appraiser in hand, then it helps to have lots of photos showing the condition of your trailer - as well, you will need to prove the value of your trailer by providing examples of want ads of similar trailers as was mentioned in one of the earlier posts. Be patient and polite - it will be up to you to educate your adjuster on this very small niche in the marketplace that you and I are familiar with but most are not.

FINALLY!

I think that we are all in agreement that we need to have appraisals. Now you have ,at last, given us some kind of advice as to how to proceed. Now we need someone to do it.
BTW, Where in Ontario are you?
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Old 02-26-2009, 01:52 AM   #18
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Trailer: 1972 boler American and 1979 Trillium 4500
Ontario
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Now we need someone to do it.
I'm not sure what the standards for an appraiser are, maybe Phil can tell us a bit more about that. I tried searching for various appraisers and they all seem to have a background in their respective field, e.g bodyman, mechanic, real estate. Then they have taken a course or two and joined an association.

Locally, I'd think that Paul Neumeister might be a potential candidate to approach. He has the body shop experience, he has the FG trailer experience. Plus he is the ultimate entrepreneur, he always brings parts for people at meets.
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Old 02-26-2009, 08:31 AM   #19
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Name: Darwin
Trailer: 2002 19 ft Scamp 19 ft 5th Wheel
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I sold a 2002 Scamp 5r last year and NADA priced it at $3,500.

It sold with a Generator, EDTV, Microwave, Back Haul box that plugged into the 2 inch hitch and other inprovements that were worth $2,000 so the Camper itself was worth $10,000.

NADA stands for North America Dealers Association and they get their numbers from dealers that sell things. Because the eggs are sold from person to person they do not have these numbers and no one else does either.

Good luck on getting an accurate appraisal.
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Old 02-26-2009, 09:06 PM   #20
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I didn't know the numbers were coming from dealer reports -- That makes sense why the values appear to be formula generated, rather than a reflection of the real world.

Relevant numbers could be culled from a combination of vehicle registration and vehicle sales tax records and should be more accurate, presuming people report the actual sales price for tax purposes, but someone would be dealing with more than 100 data bases to get the info...
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Old 02-27-2009, 09:14 AM   #21
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Pete, In the past I have had a DMV use the NADA book to look up a value when I was given a vehicle so they could calculate the tax.

At the time the banks used the NADA book to figure the loan value. At the time it actually had 3 values, Loan Value, Trade-in Value and Retail Value. The dealers are now using a small black book and keep it really secure - not letting the public get a look.
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Old 02-27-2009, 06:52 PM   #22
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Check out
www.nadaguides.com
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Old 03-01-2009, 12:51 AM   #23
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My understanding is that the original purpose of the NADA guide was so the loan, insurance and dealer parts of the industry can have a central reference that they all can accept -- Tax guys too -- Everybody likes to have a published value to point to!

I guessing, but the dealer's black book probably contains highly localized data on what they can take in used and what they can sell for, with factors that are likely specific to the dealer's profit margins. Of course, with computers, it is easy for dealers countrywide to satisfy local requirements by importing the used stuf. I recall a friend in Florida being contacted by the new owner in Wisconsin about the maintenance -- That trade-in truck was moved a long ways compared to the old days!
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