Egg Insurance - How to ensure we are covered?

[lespnd]

Hello
I had a very disturbing conversation with my insurance company in the spring of this year. Apparently the replacement cost of a 72' Boler is only about $1000 as it was $850 new in 1972. I understand depreciation and I also know I will never see every dime back that I put into it but, there is apparently a disconnect between what these little gems are worth in the market place vs what a "car insurance" policy will cover and the common knowledge on the street as compared to say "a stick built trailer". I was told by my insurance agent that on order to get a fair replacement value for my trailer;

I need to;

a) Get a very very detailed appraisal done by a reputable RV dealer. with a replacement value explicitly identified.
b) keep all the receipts of everything I have spent on it (upgrades).
c) show the original bill of sale.

I also understand that there are some RV insurance agents that would classify our little eggs under our home insurance as it could be considered a short term residence. I haven't investigated this option as mine is used for short term outing mostly.

As a result of this finding I am left with the thought of.. So what am I paying insurance for? If my trailer is stolen, catches fire or written off in any circumstance, it's simply not worth as much in the eyes of my insurance company.

As a result (once I am done upgrading) it will be getting a detailed appraisal done by my local reputable dealer. I will also be looking into changing my insurance policy to one that is specific to RV/trailers. This needs to be done before I ever need insurance.

BTW: in case your wondering, lets just say my insurance company rhymes with "great charm"

Please ring in on your experiences and comments.
I know I'm not alone on this.

[Mimi Lee]

We are in process of getting out new trailer insured so I am interested in following this thread. Our current quote includes "Total Loss Replacement/Purchase Price" So I presume it's at least the price on my bill of sale, not a depreciated value if we ever had a claim.

[Roy in TO]

Hi Noel,
One of the reasons both FGRV and Gregs site FGRV 4 sale keep archives of the listings of trailers for sale is to provide a source for current pricing.

I've insured an antique car kept in storage. It needed the appraisals every few years and has a special rider on your policy detailing the limitations.

Back then it was a SEF 19 Limitation of Amount Endorsement. I know there have been a few threads on this topic. One of them had someone that works in insurance here in Ontario with specifics.

How your trailer is insured depends on whether it is on your property, attached to your vehicle or elsewhere. Security measures also make a difference. Did the recent posting of a stolen boler in NS get you thinking or was it the new paint job?

Phil 4500 that lives in Ontario might have some insight to what happens in an accident. A tractor trailer essentially wrote off his Trillium a few years back while travelling through NB.

[lespnd]

HI Roy
Thank you for the response. Actually it was the NS stolen boler that precipitated this thread. A fight with my insurance company would only add insult to injury, and we generally don't pay that much attention to detail until we have to use insurance. I'm looking to get a much info as possible in order to not have any problems in the future, should a situation arise.. I would think every Boler owner would be interested in this thread due to the age of our eggs. These little eggs are highly sought after and not enough emphases in put on securing them from thieves. I can't tell you how many eggs I have seen for sale on the side of the road without a coupler lock. Send chills up my spine when I see that. You know what they say "A ounce of prevention.... ".
I would like to see an insurance company rep weigh in on this thread.

And there is of course this thread.

http://www.fiberglassrv.com/forums/f...nce-53510.html

Cheers

[Carol H]

Noel, I pay a little more each year for what is called here Replacement Insurance. I declare what that value I believe the trailer to be and pay accordingly. That does not mean that the insurance company will actually pay me what I declaired the value to be should it be lost of stollen. I as your insurance company has said will need to prove it really was worth the amount declaired. A few ways of doing that is as Roy suggests go through and copy all the ads for your year and make of trailer from the Fiberglass-rv-4sale site and keep them in a file including any photos from the ad. I do this about 2 times a year to keep it current. Finding ads for ones close to your area are really important as you know prices in one area can be very different in another. Take photos of the inside and outside of your trailer each year and keep them on file. Keep all the bills for parts you have changed as well as a list of all maintence done. Keep your original bill of sale. Even though you may do all that the insurance company will suggest that you lower your declaired value on the trailer by a certain % as that is what they do with stick trailers each year. Just say no! :-)

[mszabo]

As Carol said, you have to do some homework in defining the valve.
My home and auto insurance company are the same.
My trailer is under my home-owners policy.
I declared a replacement valve and provided pictures and a valve of like trailers which have sold, from fgrv sales.
I pay $43.00 and my auto insurance covers towing.

[Thomas G.]

Here is another kind of insurance. For $175 plus a dollar a week fee, you can install this tracking device (can be hard wired to 12 volts) in your trailer and track it anywhere in North America.

I use this on my pooch.


Amazon.com: Garmin GTU 10 GPS Tracking Unit: GPS & Navigation