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Old 02-09-2015, 01:26 PM   #1
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Name: John
Trailer: Trillium
Ontario
Posts: 8
Insurance

Got some interesting answers from my ins. company (Grey Power). My Trillium is covered for liability automatically via auto ins. whenever hooked up to my truck - no additional charge. Trailer just needs to be listed on policy. I can get collision/ comprehensive as an add on with a cost. I can list trailer on my house insurance to be covered when stored on my property, also at an additional charge. In order to list on any policy, I need to give the original sale price of my Trillium 1300 from back in 1974. Anyone know what that would be?
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Old 02-09-2015, 02:29 PM   #2
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Name: Bob
Trailer: 1973 Hunter Compact II
California
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I am not familiar with Canadian Ins. laws and rules, but you might want to ask the insurance company what they based maximum collision payout value on.
Some policies state "Replacement Value" but have a hidden ceiling that is based on nonsensical values. Other companies will allow you to set the "Stated Value" and set the premiums accordingly. After an accident is usually to late to find out these little details.
Good luck on your 1st question, I would ask them WHY they need a 40 y.o. price.

For reference, the 1973 Hunter Compact-II was $2,495 USD, meaning the a Trillium would have been somewhat higher than that number.



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Old 02-09-2015, 04:50 PM   #3
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Name: Larry & Joyce
Trailer: 1974 Trillium 1300
Fergus Ontario
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My '74 Trillium 1300 was $2500 when new, give or take about $25. I found that out when I bought it from the original owner. We pay $25 per YEAR for insurance ( Collision, Comp & liability) through State Farm Ins. They wanted the price for replacement value. BUT, we have the replacement cost stated as $4000. We should probably increase that a bit!
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Old 05-31-2019, 04:45 PM   #4
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Originally Posted by Larry Tenhage View Post
My '74 Trillium 1300 was $2500 when new, give or take about $25. I found that out when I bought it from the original owner. We pay $25 per YEAR for insurance ( Collision, Comp & liability) through State Farm Ins. They wanted the price for replacement value. BUT, we have the replacement cost stated as $4000. We should probably increase that a bit!


I am looking for this type of insurance as well Larry. I have a 77 trillium. Do you have car coverage with State Farm or just trailer? Yes I think 4000 is a bit low too replace that pod.
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Old 05-31-2019, 05:10 PM   #5
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Name: Jon
Trailer: 2008 Scamp 13 S1
Arizona
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Originally Posted by agreco View Post
I am looking for this type of insurance as well Larry. I have a 77 trillium. Do you have car coverage with State Farm or just trailer? Yes I think 4000 is a bit low too replace that pod.
You've latched onto a thread from 2015, and Larry's last activity on the forum was in February of 2018.

There are three types of policies you can buy. The garden variety RV coverage is an actual cash value (ACV) policy. It pays the depreciated market value of the time of loss. The problem with molded trailers is that very few are sold through dealers, so there is no data available regarding actual sale prices of used molded trailers. In lieu of data, KBB and NADA, which are used by insurance companies to determine ACV when there is a loss, take the MSRP and use depreciation formulas based on dealer sales of used conventional travel trailers. You will likely be offered a settlement far below what it would cost to buy a similar replacement.

A number of folks have been able to get insurance settlements closer to real-world prices by presenting comps (copies of classified ads for similar trailers). The burden of proof is on the insured, though, and no guarantees.

The second type of policy is a full replacement policy. It's only available for new units and buys a brand new trailer in the event of a loss during the first few years of ownership.

The third type of policy is an agreed-value policy. It is typically used for restored vintage units and requires a professional appraisal or receipts for work done to support the valuation at the time the policy is written.
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