INSURANCE?

[Rick W in MI]

This is very interesting as I haven't even thought of insuring mine yet. I was told that the tow vehicle would cover loss while being towed. My agent said my boat and trailer would be covered in an auto accident. If the boat was damaged on the water that would be its individual policy. So I just completed the restoration of my '86 boat and have it valued for the $ amount I set based on that restoration. Is that what I do with my Boler when the restoration is complete? My boat is insured with Boat US. Is there a good travel trailer insurance co. that would stand out from the rest? I'm not sure I want to rely on a settlement check based on book value. Or just have insurance for going down the road and not parked. I know, always have it hooked up and on the road!!!

Rick W

[k0wtz]

well insurance cos. aren't stupid and most are honest. although you may value it for far more if totaled get ready I doubt if you can hammer them up for more than book value.

not to hurt your feelings you might have to look long and hard for a company to fill your needs. I honestly don't know!

bob

[Jon in AZ]

Rick, I'm pretty sure your tow vehicle policy only covers liability when towing. No collision or comprehensive on the trailer. That's where the trailer policy comes in.

[David B.]

What about coverage for theft, fire, or damage from falling tree limbs while camping and not hooked up to the tow vehicle?
Dave & Paula

[Glenn Baglo]

I'm curious how much liability insurance you think you have ( from the tow vehicle ).
I know I have $5 million on the vehicle and $3 million on the trailer. It only costs a few dollars to bump it up from the basic.

[rbryan]

Originally Posted by Rick W in MI

This is very interesting as I haven't even thought of insuring mine yet. I was told that the tow vehicle would cover loss while being towed. My agent said my boat and trailer would be covered in an auto accident. If the boat was damaged on the water that would be its individual policy. So I just completed the restoration of my '86 boat and have it valued for the $ amount I set based on that restoration. Is that what I do with my Boler when the restoration is complete? My boat is insured with Boat US. Is there a good travel trailer insurance co. that would stand out from the rest? I'm not sure I want to rely on a settlement check based on book value. Or just have insurance for going down the road and not parked. I know, always have it hooked up and on the road!!!

Rick W

Rick, I think the issue you'd have is what is the value? A 74 Boler is essentially vintage. I'd recommend a replacement cost policy. There are companies that specialize in insuring vintage trailers for actual replacement cost. Any "book" value of a Boler would be ridiculously low, even if the trailer was covered by the tow vehicle policy.

[Jon in AZ]

I've heard of full replacement policies for new trailers, but not for vintage units.

Run of the mill RV policies offered by most insurers are actual cash value policies, which in theory should allow you to purchase another of similar age and condition, but often come up short in practice- especially for molded fiberglass. You usually have to fight for a higher valuation using market data.

For a restored vintage unit, where its value is significantly greater than others of similar age, there are agreed value policies. They are harder to find (few insurers offer them), more trouble (require an appraisal and receipts for work done), and of course, more expensive. It would only make sense if you had invested a lot in a frame-up renovation.

For an older or vintage unit in average condition, you might be better off self-insuring: put some money each month into your "next trailer" fund.

[k0wtz]

I think the egg market pretty limited I would insure that trailer for what it is worth then have photos and other information on like trailers to back up my estimate of its worth.

now thinking you are going to put an over the moon value on it wont work just know that as well as overvalueing a house wont work either!

If you want it insured do it and get out there!! Life is too short.

bob

[amy in maine]

This is a VERY interesting topic.
I put away 20k to buy my scamp, I had no idea how much it would cost because they didn’t have the prices on their website. When I called they said it was 5 months wait so I ended up buying an used one. That saved me 12k! Should I put away the 8k for when it’s totaled and not spend monthly exspenses on insurance? Thinking that would be a better option?

Mine isn’t a vintage or anything so I’m pretty sure it only has 8k value or even less since it devalues with age...

[Jon in AZ]

Tough call, Amy. When someone else is at fault, having an insurance company to deal with the other party can be of some advantage. Having liability coverage when unhitched might be worth something- say it jumps its chocks and rolls into another camper. Your vehicle insurance only covers liability when towing.

Our basic ACV policy is $120/year, so it's not that expensive. My Scamp has actually appreciated in value since I purchased it. That complicates things, since most insurance companies assume depreciation. In the event of a total loss, I would not expect it to pay enough to replace it with another of similar age and condition, but it would pay more than I have spent in premiums.

Insurance is a form of gambling...

[amy in maine]

Originally Posted by Jon in AZ

Tough call, Amy. When someone else is at fault, having an insurance company to deal with the other party can be of some advantage. Having liability coverage when unhitched might be worth something- say it jumps its chocks and rolls into another camper. Your vehicle insurance only covers liability when towing.

Our basic ACV policy is $120/year, so it's not that expensive. My Scamp has actually appreciated in value since I purchased it. That complicates things, since most insurance companies assume depreciation. In the event of a total loss, I would not expect it to pay enough to replace it with another of similar age and condition, but it would pay more than I have spent in premiums.

Insurance is a form of gambling...

Thank you for replying, good call on when if I get rear ended and don’t have insurance what then?! I’ll make a call to my insurance company and ask. Thank you!

[thrifty bill]

It’s basically the self insured model on collision damage (always keep the liability). It’s a matter of what the money means to you. If you can afford a $8k hit if something bad happens, then that’s one choice. But if a $8k hit is s major impact to your family finances then get it covered.

Insurance is just the way people spread risk across a lot of people (millions). Insurance companies are doing well as are insurance agents. We all pay a small amount extra to cover those costs but also for piece of mind.

Imagine the insurance costs you $250 per year. And imagine a $1000 deductible. It’s going to take you 28 years to “break even”. It’s actually faster than that because you should be earning something on the savings. But the point is it will take many, many years to break even IF you ever have a claim. Never have a claim and you are saving from the beginning.

[thrifty bill]

If you are rear ended as long as the other person has insurance you are OK. But sadly there are many people out there with no insurance, no license, no assets, broke, etc. I had a drunk plow into me he had nothing.....

I tend to go to liability only once the value of the item drops to a point I am OK taking the financial hit. If you go that route, at least mentally set aside the savings to cover the eventual claim.

[amy in maine]

Originally Posted by thrifty bill

If you are rear ended as long as the other person has insurance you are OK. But sadly there are many people out there with no insurance, no license, no assets, broke, etc. I had a drunk plow into me he had nothing.....

I tend to go to liability only once the value of the item drops to a point I am OK taking the financial hit. If you go that route, at least mentally set aside the savings to cover the eventual claim.

Ohhhh ok, so as long as they’re insured or able to pay it doesn’t matter if “I” have insurance or not...hmmm...it is a gamble isn’t it? Lol in that case, I may just save the 8k aside because that money was supposed to be gone anyway. Versus paying the insurance company then having some deductible etc etc. lots to think about

[Kai in Seattle]

When you buy insurance, you are betting something bad is going to happen. The company is betting, nah, it hardly ever happens. Our insurance company said they've hardly ever dealt with travel trailer claims, but they decided what the hey. They insured it at $10,000 because they said they checked and "those little vintage things can go for a lot, can't they?" and also, "They're worth more each year, we found." They only charge about $11 a month.

We offered to drive up north and show them Peanut, but they said it wasn't necessary, but to get a few prices and pics off the internet to show "comparable" units just in case.

Right now, recent as was the purchase and redo, we wanted it covered. In a few years maybe we'll self-insure completely. We'll see. Meanwhile, it is some peace of mind to have that insurance. I'll have to check if it's covered if a tree branch crushes it. I really don't know.

Good topic. VERY interesting.

Kai

[V'sGlassSleeper]

Kai, Did I miss your mentioning the name of your insurer and your location? They sound very ethical and reasonable.

[Kai in Seattle]

Hi, we insure through The Secord Agency in Seattle, WA. They use many insurers and helped us find the best deal for our situation. We also get car and house insurance from them...

Devin, our agent, just e-mailed me back; Yes, we have collision and comprehensive both on Peanut; if a tree branch falls on us, they'll help us get it fixed. Of course, Paul would probably do the work, and there would be some deductible (I think maybe $500) but that's not as bad as losing the whole value of replacing Peanut if we had to. At this point, we would still want to replace if necessary. Though it would break my heart for a while if something major happened to our little shell.

And there is nothing configured quite like our "two bedroom unit!" So I suppose we'd want another amerigo...and they ain't common or particularly easy to find or to get...there HAVE been several available on FGRV this year so far, so if we needed one, we'd have to hop and pay and get it, I expect we'd be ready to do it, too.

Our insurer (we've used them for many years) does seem quite professional, ethical, friendly, easy to deal with, and aware of our costs being of some importance to us. On the other hand, can't say we've had too many claims with them. Last summer one of our car's rear windows just disintegrated in place...we have glass coverage so it was fully covered, no deduct. Secord Agency told us where to take it in our town; we took it, and they did a fine job. We felt very well treated.

Disclaimer: I am NOT selling this, pushing it, or recommending it in particular, just that it has worked out fine for US in OUR circumstances. Everyone must find their own best coverage, of course. I feel quite lucky considering some of the insurance stories I've seen on FGRV!

BEST
Kai

[V'sGlassSleeper]

Thank you, Kai! I completely understand your disclaimer - everyone's experience may vary. At the same time, I always prefer personal referrals. I will call them today to see if they can quote me for insurance if I live in AZ.


I spent hours on the phone a few months ago contacting insurers (it was taking about 45 minutes per quote, in part because I am not comfortable entering my personal information on any website if I can avoid it). However, none of the insurers that I spoke with offer vintage camper insurance, so I am eager to learn more about what is available. I am happy to give them my home and auto insurance too as I have been really unimpressed with AAA's impersonal and non-transparent service and skyrocketing premiums, especially considering I've been with them over 12 years with no claims other than the occasional windshield replacement due to rock damage on the freeways here.


Much enjoyed reading about your love for your Amerigo. It seems that many of us have a "bonding" experience as we restore and enjoy some great adventures in our vintage campers. The 19-foot Bigfoot models are also very scarce, and I know I wouldn't really be satisfied with any other layout or make. Cheers for vintage FG!

[V'sGlassSleeper]

Hi Kai (Kathleen),


I just got off the phone with Devin - he is delightful - and thankfully for me, they insure in WA and AZ (no other states). So he took all my data and is going to get back to me with some quotes. Thank you so much!



What a difference to speak with a broker who actually clearly cares about providing great customer service. He said he has a number of insurance providers who will cover a vintage camper for actual replacement cost. YAY!

[Kai in Seattle]

Good luck with it, I hope it works out for you!

Kai