INSURANCE? - Page 3 - Fiberglass RV


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Old 02-08-2018, 05:34 PM   #29
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I have no insurance on any of my trailers for exactly that reason. Insurance companies never loose money.
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Old 02-08-2018, 05:34 PM   #30
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Originally Posted by V'sGlassSleeper View Post
Thanks for your response. Is there no way to prove - through online ad posts and other real-market information - what the actual replacement cost would be for these vintage fiberglass travel trailers? I bought this trailer in 2007 for over $11,000, had to drive all the way from Phoenix, Arizona to Vancouver Island, BC to get it and will easily have put $6,000 into it by the time I finish all the renovations. What is the point of having any insurance on it at all if the insurer goes by the Blue Book Value of $3,000?
There IS a way to prove it's actual value to an insurer, and that's with an appraisal, as I mentioned. If the appraiser specializes in determining actual market value for a vintage trailer, they will take the current market and ads as well as any improvements or renovations into account in determining the value.

But, the appraisal isn't much good unless the insurer agrees to use it. That's agreed upon value coverage. Off the shelf coverage doesn't offer that.
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Old 02-08-2018, 05:37 PM   #31
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INSURANCE?

I have been very happy with State Farm Mutual, both cost and claims response, for over 30 years. I do not have any special coverage for my Scamp, just a standard ACV policy, and I've never made a claim on the trailer.

Based on what I've read from others who have made claims under similar policies in other states, they will initially offer to settle for the NADA value, but with proof of a higher actual market value (through comps collected from this site and www.fiberglass-rv-4sale.com) most people have reported eventually coming to a satisfactory settlement. I don't have a lot of money tied up in my Scamp, so that is good enough for me.

In the case of a vintage unit like yours that has undergone a major renovation, the only way to protect your full investment is an agreed-value policy, which Robert describes well. Receipts for work and materials are helpful in the appraisal process. I have no idea which Arizona insurers might offer that type of policy nor what premiums might look like.

It's a lot of trouble, and you may find in the end the self-insurance approach is best. One advantage of going through the appraisal process is if someone else is at fault and your trailer is destroyed, you have established a basis for a higher valuation prior to the claim.
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Old 02-08-2018, 10:19 PM   #32
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It's a lot of trouble, and you may find in the end the self-insurance approach is best. One advantage of going through the appraisal process is if someone else is at fault and your trailer is destroyed, you have established a basis for a higher valuation prior to the claim.
Yep, a very real possibility.
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Old 02-13-2018, 09:08 AM   #33
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inurance

I too use state farm just before I sold my a-liner I crashed it a tad due to my back surgery and not being able to turn. I called state farm no problem get an estimate I waited a month for campers world to send me an estimate they never bothered.

in the mean time I got to looking at it and the damage was really minor I fixed it and sold the camper.

in my 50 years with them I have had quite a few claims never a problem ever.

bob
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Old 02-18-2018, 11:56 AM   #34
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Thank you for the tips, folks. I like the idea of getting my trailer appraised once I have finished all the renovations, which should be in a couple of months. I will definitely start looking for an insurer who specializes in vintage trailers. If that proves impossible to find, then I guess my only option will be self-insurance. With new 19 foot travel trailers this size only being offered by high-end manufacturers like Escape and Oliver, and vintage Bigfoot travel trailers in this size being so hard to find and usually not in tip-top shape because of their age (hence my having to do a thorough renovation of mine), replacing mine would not be cheap if it got totaled, especially with all the upgrades I have done (nevermind all the sweat equity I have in mine).
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Old 02-18-2018, 01:18 PM   #35
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Not only do insurance companies not recognize the value, so too with the NC DMV. Did make for cheaper plates.

I even asked my insurance company to google escape trailer. It’s the first one listed. They insisted my Escape is a cheap stickie.
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Old 02-18-2018, 02:01 PM   #36
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I even asked my insurance company to google escape trailer. Itís the first one listed. They insisted my Escape is a cheap stickie.
There is a cheap stickie Escape:
https://www.kz-rv.com/products/escape-travel-trailers/
You need to make sure they know the difference for your insurance.
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Old 02-18-2018, 04:34 PM   #37
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Quote:
Originally Posted by thrifty bill View Post
Not only do insurance companies not recognize the value, so too with the NC DMV. Did make for cheaper plates.

I even asked my insurance company to google escape trailer. Itís the first one listed. They insisted my Escape is a cheap stickie.
Quote:
Originally Posted by Glenn Baglo View Post
There is a cheap stickie Escape:
https://www.kz-rv.com/products/escape-travel-trailers/
You need to make sure they know the difference for your insurance.
That's right. Progressive (via Good Sam) made the mistake of showing mine as a KZ Spree Escape on the policy. When I made them change it to a "make" of Escape and a "model" of 19, it showed correctly on the policy. The trailer make was not in their system however, so it took awhile for them to agree to the value.
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Old 02-18-2018, 09:16 PM   #38
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our trailer value

when I called our agent to insure our scamper he asked what I thought it was worth I told him no more than I paid for it 5k. he said fine and wrote the policy for that.

bob
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Old Yesterday, 06:15 AM   #39
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Bob, that does not mean it is insured for $5K. I think you'll find your policy is an ACV policy, which means they will pay you what they consider its "actual cash value" at time of loss.

That would probably be the NADA value, and it will be up to you to convince them otherwise.

The number you gave them was probably used to set your premium.
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