How much is my trailer worth?

[Cory Hilby]

Hi all,
I'm going to be getting insurance from a new company soon & so I'm wondering what to tell them when they ask what it's worth. I'd like to know Replacement Value. Anybody want to venture a guess?

My trailer is a 13' Compact Jr. built in 1972. 1 axle (no flanges for trailer brakes), 2 wheels. Steel frame (of course). No breaks in the fiberglass. Central pop-up. Original canvas of the pop-up has been replaced by roughly-cut vinyl. Tongue takes 2" ball. Good spare tire. Propane tank. Removable window awnings. Custom step into body of trailer. Rear porch light (new), sink taking either outside or the interior tank as a water source, hot water heater (new), original icebox (beefed up with additional insulation), microwave (new), closet shelving (new), new compartment under icebox, additional door to access under-bench storage, fully operating gas, 110 & 12 volt electrical systems, two 110 outlets (new), a 12 volt outlet (new), all LED bulbs (new), and a large (almost queen) bed that can be split into 2 bunks or set up as a dining cubby. Given the trailer is more than 43 years old, with all the prolific fixin' up my brother has done, I'd say it's condition in eBay terms would be "excellent" but also that it is "tricked out", so to say.

I know I'm forgetting something important. I wish my brother Steve was here! You may have me one or the other of us (and therefore the trailer) at the Oregon Gathering or other OR, WA or BC meets. Also my trailer's been to places in Montana, Idaho, Nevada and California.

[Cory Hilby]

I guess it's implied, but I forgot to mention propane gas stove (original) & also the propane detector (new).

Man, I gotta get me some decent photos of the interior! There's been 8 years of improvements since these.

[Borrego Dave]

You can do a search for this question as it's been talked of many times. Pretty much bottom line is that folks keep a list from the "sold" thread to show what your type of trailer has sold for in the real world. Insurance companies are going to use NADA which doesn't work for FGRVs. Also if I remember right from members, some companies are more willing to go with the sold lists. Good luck to you and let us know what you find out. I'm sure others will chime in soon.

[Cory Hilby]

Thanks much! I don't follow the forums very closely so didn't know that.

[bpfick]

I'd insure a $50,000 boat against loss. (not talking liability here). I'd insure a new truck for $40,000. These "hits" would sting too badly. Ten years of premiums will come to thousands of dollars, but still a fair enough "bet" and yes that is what insurance is, a bet, that if a total loss happens, I'll make out to postive side of the premiums vs payout equation. You bet you will and the insurance bet you won't and they'll pocket of the premium monies.

We paid around six grand for a nice little Scamp. Can I survive a loss of 6 grand? With some sting, yes. Making insurance payments in hopes they'd give me $4000 if there was a total loss didn't really make a lot of sense, not over the long haul.

So, if you can insure it, for $150 bucks a year in hopes of a $3000 to $5000 payout for a loss? Might be OK for a few years, but at some point the expression "self insure" comes into play and only you can decide when that is.

[Henry Smith]

Good alternative analysis by bpfick above. Certainly worth considering.

[airculd17]

I also have a 1972 Compact Jr. which I fixed up , although not as tricked out as yours, I estimated it's value at $3200.00 and decided that self insuring it was the way to go. like the man says, it's a roll of the dice.

[Cory Hilby]

Bpfick & others, how about at $36 a year? That is what it's been up until now. The liability goes with the tow-car so (as you noted) I'm only paying for damages to the trailer (I guess that's called collision).

[Kai in Seattle]

We got ours insured for what we paid for it (a painful hit if we had to pay it again...) and will up that somewhat if we ever get her done. It costs us about $4 a month on top of our car and house insurance with the same co. Barely notice it, and would be worth it. In fact, some days, I just wish someone would veer into the driveway and take it OUT!

(Not today, however, since things are moving along.)

Certainly what you paid...yours looks and sounds like a LOVELY rig.

What would it cost you to replace it? That's a good starting point.

[Cory Hilby]

Never thought of it as lovely, but it's certainly fun!


The real gem is my brother Steve Hilby, who did all those modifications!

[MRClaus]

5.000.00

[RogerDat]

https://www.google.com/#q=fiberglassrv4sale is another source of "sold" values in addition to the forum here. Since you have a camper that comes on the market seldom and in a wide range of conditions I think there would be some value in having a list and printed copies of those advertisements as a proof of value. Might be an advantage to collect them during spring and early summer when prices are up too. If nothing else unlike most campers they don't tend to depreciate the same, and at a certain point they hold their value almost indefinitely. In good shape they will not ever be worth less than $xxxx If you get what I mean.


Or you could use those to determine a value you believe is accurate and ask that the policy be written for that amount as replacement value. This can be a good way to control both cost and valuation. It will be up to them if they want to repair or total in the event of damage.


Lot of times a homeowner policy will have something such as that for tools, jewelry, camera, guns or other items with high value but one difficult to ascertain, an individual item can be evaluated, this power tool or camera was stolen but in the event of a burglary where all the tools were stolen or all the camera equipment was stolen then the rider amount cuts in and sets maximum value. In most cases some sort of documentation of the items existing or having value will be needed. Your sold postings cover that requirement making the insurance rider possible.