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Old 04-11-2013, 06:06 AM   #1
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1977 6.0m Minuet + Tree vs Progressive Insurance

Our baby took a hit on the steel cap from a tree recently (see post in roof repair section for pix) and our adjuster has come back with what I think is a lowball valuation of $1100 before deductible and they'd waive the salvage fee if I wanted the trailer back since that would be a total. The number was based on a dealer's trade in lookup for a 1979 (the earliest year they could quote) - that's just the NADA which lists ALL 1979 Airstream models with toilet, furnace, a/c, fridge for $1100.

The factory said they could retrofit the steel cap with aluminum panels for $6k before finishing work which would need to be done out of house. I've gotten estimates for 40-60 hours of work to "fix" the dent from Airstream restoration resources. So this is where we get the "totaled" for the insurance.

Since prices are all over the place based on condition (if you can even find one) I understand why he's having issues. Ours would be considered "Average" using the Vintage Airstream pricing guide - Price vs. Condition - Vintage Airstream

Has anybody had any luck accurately pricing an Argosy for Actual Cash Value? Any advice you could give would be highly appreciated.

Thanks,
Jeff
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Old 04-11-2013, 06:47 AM   #2
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Read your policy carefully. "Actual cash value" is almost certainly based on NADA book, not any independent appraisal.
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Old 04-11-2013, 07:20 AM   #3
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My daughter sold her 1977 Minuet last August for $9500. It was recently listed here in the classifieds with a new paint job for $12,500 and sold within 2 weeks. That's an accurate value based on a renovated trailer.

On another note, I know of an Argosy that's for sale for parts if you're needing an endcap (and all the rest of the trailer). PM me if you're interested. It should be pretty reasonable. And it's in Northwest Indiana (about 2 hours from you)
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Old 04-11-2013, 08:35 AM   #4
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Quote:
Originally Posted by IndianaJeff View Post
Our baby took a hit on the steel cap from a tree recently (see post in roof repair section for pix) and our adjuster has come back with what I think is a lowball valuation of $1100 before deductible and they'd waive the salvage fee if I wanted the trailer back since that would be a total. The number was based on a dealer's trade in lookup for a 1979 (the earliest year they could quote) - that's just the NADA which lists ALL 1979 Airstream models with toilet, furnace, a/c, fridge for $1100.

The factory said they could retrofit the steel cap with aluminum panels for $6k before finishing work which would need to be done out of house. I've gotten estimates for 40-60 hours of work to "fix" the dent from Airstream restoration resources. So this is where we get the "totaled" for the insurance.

Since prices are all over the place based on condition (if you can even find one) I understand why he's having issues. Ours would be considered "Average" using the Vintage Airstream pricing guide - Price vs. Condition - Vintage Airstream

Has anybody had any luck accurately pricing an Argosy for Actual Cash Value? Any advice you could give would be highly appreciated.

Thanks,
Jeff
How about posting a photo or 2, of the damages?

What have you done to upgrade the value of the trailer?

Paid bills, etc.

Andy
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Old 04-11-2013, 09:06 AM   #5
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Jeff you are victim of how ins. co. survive.. They 'pro rate' your trailer based on year just like they would an old car. For others find an insurance co. that will sell you agreed upon value. It will require an appraisal of it's worth, which the ins co. will base the price of ins to cover it for that much. Sorry for your loss Jeff I hope it works out for you.
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Old 04-11-2013, 10:43 AM   #6
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you might want to contact an attorney. They will often give you a free consult and you can find one that will work on contingency - i.e, they take 1/3 of what they recover for you, no fees upfront. You can ask an attorney anything for free on avvo.com. Not much to lose there.

I like the idea of finding recently sold comp models to prove your value is higher than what they are offering; also, initial purchase receipt / bill of sale, (you might also look on your time to see how much you paid) also receipts for items you improved.

It would be a shame to have a salvage title... would certainly affect future resale. In some states you cannot drive on the roads with a salvage title and would have to obtain a 'rebuilt' title.

Good luck, let us know what happens.
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Old 04-11-2013, 10:50 AM   #7
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My significantly updated 77 Minuet (new floor, fabrics, remote vents, axle, repaired frame, front wrap protector) sold for just about $9000 last May.

Documenting this sort of stuff is hard with vintage because it depends a lot on condition. If my Argosy had new paint and air, it easily would have topped $10k like the one mentioned above. Buying one of these in usable but not-much-done condition seems to hover around $5000.

This exact reason is why I always print ads when I see others selling my current trailer model - gives a record of the market if the trailer suffers a big loss.

Tom
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Old 04-11-2013, 10:46 PM   #8
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Followups

Thanks for everyone posting on this!

@goshawks00 - yes, I was a bit lazy on the trailer and when we bought it I wasn't really thinking about insurance like I do now - I have a '68 Mustang as well and that has an agreed upon value policy.

@Lauren/Adam - I think the law in Indiana only adjusts the title for vehicles newer than 7 years to salvage - so in this case they would call it a total and that would be it. Might effect the ability to get comp on it in the future though.

@Becky - PM SENT!

@Andy - thanks for chiming in on this, always appreciate your posts. Pix are attached for you viewing pleasure. No real mods were made but nothing soft in the floor, upholstery has been replaced but is in good condition, water heater is aftermarket, we did re build the front wrap around drape from scratch but then it's just a bit of cloth and the plastic carriers for the receipt. Like Tom said the general condition ones I've seen over the years are usually around $5k and we bought it just under that a few years back.
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Old 04-11-2013, 11:50 PM   #9
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Check your States ins. laws and regulations ( business and professions code and State Dept of Ins. Policy) You are usually entitled to be "made whole". Refuse any offers for a cash settlement from the Ins. Co. and make a demand that they find you a comparable trailer as settlement, or fix yours correctly at a repair facility of your choosing. They will drag their feet, and it will take months, but they will eventually relent and promptly cancel your policy after they settle. Dig your heels in...they had no difficulty in taking your premiums and as dumb as they act...they knew its value before they ever calculated the premium. Ins. Cos use NADA as a benchmark for us "dumb" non- industry types, to sell low settlements...they know what its worth, but are gambling you will take the low payout just like 99% of the others did. This is a total copout and where they make most of their cash. I am frankly surprised that they didn't try to force the claim under your homeowners policy for the higher deductable. If it doesn't leak, wait them out and demand that they replace it like for like.

Have you seen the new Progressive Ins. " Suckers" ad? Situations like yours makes you question the commercials true meaning. Who Are the real suckers?
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Old 04-12-2013, 05:19 AM   #10
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Silly thought, but have you gone to an auto body shop? It is steel, cars are steel and dented cars are fixed all the time. They might be able to pull those dents and make it look brand new. $1100 is not going to cover a complete paint job however.
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Old 04-15-2013, 02:46 PM   #11
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Indianapolis , Indiana
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@Phrunes - yeah, that's the direction it looks like it's heading.

@Frank - that's the next part we're looking at but it would still be quite a few hours of labor to pull and smooth a bit. However there is new hope.....

I've got a line on what is supposed to be a 1976 Argosy (probably not minuet) in my area that has a front end issue - pretty banged up including missing windows and the front steel cap so it probably wouldn't be a direct donor for that....however the back cap looks good. So now I'd need to determine if the front cap of a 1977 Argosy Minuet could essentially be cut out of the back cap of a 1976 Argosy. Does anyone know if the factory manuals have detailed dimensions for the caps?

Thanks,
Jeff
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Old 04-15-2013, 02:58 PM   #12
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I'm doubtful that removing the end cap from each of the Minuet and the '76, cutting down the width of the '76 endcap by 6" in the center, welding it up and smoothing the outer face of the weld so it could be repainted, then installing the new cut-down end cap onto the Minuet would cost less than having the dents pulled from the Minuet's endcap, assuming that can be done cleanly.
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Old 04-15-2013, 06:20 PM   #13
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I'm doubtful that removing the end cap from each of the Minuet and the '76, cutting down the width of the '76 endcap by 6" in the center, welding it up and smoothing the outer face of the weld so it could be repainted, then installing the new cut-down end cap onto the Minuet would cost less than having the dents pulled from the Minuet's endcap, assuming that can be done cleanly.
Wouldn't shortening it by 3 inches accomplish the same thing?
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Old 04-15-2013, 06:22 PM   #14
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@Phrunes - yeah, that's the direction it looks like it's heading.

@Frank - that's the next part we're looking at but it would still be quite a few hours of labor to pull and smooth a bit. However there is new hope.....

I've got a line on what is supposed to be a 1976 Argosy (probably not minuet) in my area that has a front end issue - pretty banged up including missing windows and the front steel cap so it probably wouldn't be a direct donor for that....however the back cap looks good. So now I'd need to determine if the front cap of a 1977 Argosy Minuet could essentially be cut out of the back cap of a 1976 Argosy. Does anyone know if the factory manuals have detailed dimensions for the caps?

Thanks,
Jeff
I would purchase several rear panels if you pull the trigger on it.

I'll pm you the dimensions of my 76 Argy.
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