Value State Policies to insure replacement value

[EllPea in CA]

I just added my trailer back onto my auto policy, which includes all kinds of liability coverage, losses for personal items, and repairs of some damages, but it does not include "replacement" value for a 1989 trailer.

The helpful agent explained that I would need a "Value Stated" policy (at no doubt a much higher premium) in order to get the trailer replaced at what I perceive its value to be.

She said I should go to a local insurance broker who could visibly see the trailer and agree to cover its value.

I often read discussions about complete losses of trailers and replacement difficulties.

Does anyone here have such a policy? Any recommendations?

[AlanKilian]

How much did they quote you for a "Value replacement policy" at the price you want for your trailer?

[EllPea in CA]

Originally Posted by AlanKilian

How much did they quote you for a "Value replacement policy" at the price you want for your trailer?

Alan, my auto insurance people weren't able to do that over the phone, they recommend I visit a local broker to have the trailer assessed.

It is currently listed on my auto insurance, even including injuries to visitors within a certain distance of the trailer, but this does not include replacement of the trailer to its full value.

They are emailing me a binder with coverage detailed.

How are you doing towing with your XC40?

[EllPea in CA]

Here are the basics covered under my auto policy. The cost for this is about $9/month.

Vehicle Year: 1989
Make: BIGFOOT
Model: M 13.5
COVERAGES LIMITS DEDUCTIBLES
RV Medical $1,000
Emergency Expense $1,000
Replacement Cost Personal Effects $5,000
Vacation Liability Coverage $10,000
Comprehensive (Excluding Collision) $500 Ded
Collision $500 Ded
Emergency Road Service Full

[AlanKilian]

Originally Posted by EllPea in CA

How are you doing towing with your XC40?

Oh man, with the new Flexiride axle and electric brakes, it tows like a dream!

We get around 27 MPG towing on a flat highway which seems too good to be true.

Here's a camping photo just before I drove into that rock and banged up the lower driver's side black plastic. :-( With only about 3,000 Miles on the car.

[EllPea in CA]

Originally Posted by AlanKilian

Oh man, with the new Flexiride axle and electric brakes, it tows like a dream!

We get around 27 MPG towing on a flat highway which seems too good to be true.

Here's a camping photo just before I drove into that rock and banged up the lower driver's side black plastic. :-( With only about 3,000 Miles on the car.

OUCH!

Oh man, so sorry about this!

Do you feel you need the electric brakes? I had a brake controller on the V70, but haven't put one into the XC60 so far, as I'm not convinced it's needed (also I haven't towed with it yet to suss things out). I think my car is heavy enough to handle the little trailer, and the trailer does have the break away brake thing so ...

[Eddie Longest]

It's been a while but with Good Sam's (General Ins.) The replacement policy was only for the first 5 Years from date of mfg. After that they would give you what you paid for the trailer. You had to pay extra for the coverage.

[Jon in AZ]

Full replacement policies are for new units and they will buy you a brand new replacement within the first so many years. After that they become…

“Regular” policies for used units pay out the depreciated value at time of loss. I believe they use the phrase “actual cash value.” Determining that value for an older molded fiberglass trailer is difficult, because NADA values- which is where they go to look- bear little resemblance to actual transaction prices. Several owners with older trailers that experienced a total loss reported negotiating a higher settlement by providing comps, ads for similar recent sales. They seemed to be generally satisfied. I suspect that might be less true in the current inflated market.

The third option is an agreed value policy. They are hard to find- many insurers don’t offer them- and more expensive. You may have to pay for an appraisal to justify the value. They are more commonly used for a restored trailer with a value significantly higher than other trailers of the same type and age.

I honestly don’t know what to recommend in the current, crazy market, with older, unrestored fiberglass trailers selling for a lot more than their owners paid for them. The insurance industry isn’t oriented to view RVs as an appreciating asset.

[AlanKilian]

Originally Posted by EllPea in CA

OUCH!Do you feel you need the electric brakes? I had a brake controller on the V70, but haven't put one into the XC60 so far, as I'm not convinced it's needed (also I haven't towed with it yet to suss things out). I think my car is heavy enough to handle the little trailer, and the trailer does have the break away brake thing so ...

We didn't have a brake controller with the V70 either (Or the previous CRV) and it towed just fine without one.

Getting a new axle with brakes made me look into it and since I didn't want to try and figure out the wiring of the XC40 and I didn't want a box bolted to the nice interior, I want with the Tekonsha Prodigy RF brake controller bolted onto the trailer frame. It made a significant difference in towing even though I thought it towed great without brakes.

So, now we've got it, and are legal in more states so that's an extra good thing.

[David Tilston]

My tow vehicle is a full sized van, pulling a Trillium 4500. I notice the difference between when there is a brake controller, and when there is not. Get brakes on your trailer.

[Glenn Baglo]

Brakes are not an issue, except for the last few inches before you collide with something.

[Gattopuin64]

I have a stand alone policy covering my 2017 Scamp 16-ft FB/SD , LO-6. It is full replacement coverage with State Farm. Cost about $300 per year. I also have cover with State Farm for my truck. Believe State Farm will only insure trailer if you have auto coverage

[Dennis mn]

Originally Posted by Gattopuin64

I have a stand alone policy covering my 2017 Scamp 16-ft FB/SD , LO-6. It is full replacement coverage with State Farm. Cost about $300 per year. I also have cover with State Farm for my truck. Believe State Farm will only insure trailer if you have auto coverage

I had a State Farm Policy on our Airstream before we totaled it. In this crazy world, they payed out about $6,000 more than we payed for the trailer.

[Jon in AZ]

That’s great, but I wouldn’t count on the same happy outcome for a three decade old vintage trailer.

P.S. I had other business with State Farm today and decided to ask about our 14 year-old 13’ Scamp. The agent looked up the current valuation in their system (which uses NADA), and came up with a current market value of $8700 (base model, no options). The agent was very surprised because the original MSRP was listed as $8890. He said there was some room for negotiation based on current market conditions but declined to say exactly how much. I left reassured that my ordinary policy ($82/year) is keeping up with the market better than expected, even it not quite 100%.

[SteveV]

I have my classic cars insured thru Hagerty for an "agreed value" & the premium is based on that $$$ amount. I'm not sure if they insure vintage campers but it may be worth giving them a call.

[EllPea in CA]

Originally Posted by AlanKilian

We didn't have a brake controller with the V70 either (Or the previous CRV) and it towed just fine without one.

Getting a new axle with brakes made me look into it and since I didn't want to try and figure out the wiring of the XC40 and I didn't want a box bolted to the nice interior, I want with the Tekonsha Prodigy RF brake controller bolted onto the trailer frame. It made a significant difference in towing even though I thought it towed great without brakes.

So, now we've got it, and are legal in more states so that's an extra good thing.

Well, this is part of my hesitation, I don't want that box bolted in my new car. I did NOT KNOW there was a controller that could be bolted to the trailer frame? How do you activate it?

I did have the controller in the V70 and we never felt we needed it. The 13.5' trailer is very lightweight! Many of these don't even come with brakes. I'm not trying to talk myself out of having them, I'm just not sure they are needed AT ALL on a small trailer and a TV that is not close to pushed to its limit.

[Jon in AZ]

Many tow vehicle manufacturers seem to think differently. The owner's manual for my 4300# Honda Pilot specifies trailer brakes over 1000# gross trailer weight. Maybe just legal protection for the manufacturer, but...

California requires trailers brakes over 1500# gross trailer weight. I've personally only had one really close call when towing, and it happened... where else?... in California. An idiot in a yellow sports car cut in front of us on I-5 and immediately braked hard to catch an exit ramp at the last second. I stood on the brakes and narrowly avoided a crash. It looked expensive.

Consider mine another vote to hook those brakes up. Your Lil Bigfoot will likely be close to, if not over, the 1500# threshold fully loaded.

[Jon in AZ]

Late thought… A little math reveals the likely logic of the 1000# manufacturer threshold for trailer brakes. With the standard two people on board, a 1000# trailer puts the combined load just over the GVWR for our Pilot, which is what the brakes are engineered to stop. The standard two people used in tow testing at 165# each, plus a 1000# trailer, is 1330#. Payload on the Pilot is 1320#. Probably not a coincidence.

[AlanKilian]

Originally Posted by EllPea in CA

Well, this is part of my hesitation, I don't want that box bolted in my new car. I did NOT KNOW there was a controller that could be bolted to the trailer frame? How do you activate it?

The trailer-mounted brake controllers have magic science boxes in them that sense when you hit the car brakes and how hard you hit them and they turn on the trailer brakes the right amount.

They also each have a remote-control unit you keep up in the driver's area that sends a signal to the controller on the trailer to do things like adjust the strength of the brakes, some timing stuff and all that.

The Tekonsha Prodigy RF has a unit that plugs int your 12 Volt accessory socket and has a nice "OH NO! I'M SWAYING" emergency brake button that either the driver or passenger can hit quickly. (We practice going down a road without any traffic and the driver yells "SWAY" and the passenger hits the button.) That way, the remote gets tossed in the glovebox when we're not towing and the car stays shiny.

There is one that uses the bluetooth on your phone to talk to the controller but I didn't like the idea of having to find my phone, unlock it and then open the app to activate the brakes in an emergency so I didn't get that one. There's probably a way to keep the phone awake with the button showing, I just didn't investigate it.

[Jon in AZ]

The “magic science” component is an accelerometer, and all proportional brake controllers have them regardless of where they’re mounted. It’s what senses how fast you’re decelerating in order to modulate the amount of trailer braking applied.

The Autowbrake is another trailer-mounted controller option. Scamp offers it as an option, and I believe I read they mount it inside the cabin rather than on the tongue, which has some advantages in my mind. Don’t know if that’s the one that uses Bluetooth, but I am recalling it also has its own dedicated remote.