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Old 04-22-2011, 11:15 AM   #1
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Establishing Value for Insurance

My wife and I own a 21' 1971 Airstream Globetrotter. Insurance companies will cover it for only approximately $4,000 unless we can prove greater value. It's been well cared-for over it's lifetime. I know it's worth a lot more.

Does anyone have any suggestions about how I would go about proving a fair value for insurance companies? Are there qualified Airstream appraisers in or near Minnesota? I would think the insurance companies would need documentation from someone with credentials, and would also need proof of value of several similar trailers, much like you go through when obtaining a home appraisal.

I'm looking for advice on how to get this task accomplished.

Thanks!
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Old 04-22-2011, 12:04 PM   #2
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Originally Posted by MrRetentive View Post
My wife and I own a 21' 1971 Airstream Globetrotter. Insurance companies will cover it for only approximately $4,000 unless we can prove greater value. It's been well cared-for over it's lifetime. I know it's worth a lot more.

Does anyone have any suggestions about how I would go about proving a fair value for insurance companies? Are there qualified Airstream appraisers in or near Minnesota? I would think the insurance companies would need documentation from someone with credentials, and would also need proof of value of several similar trailers, much like you go through when obtaining a home appraisal.

I'm looking for advice on how to get this task accomplished.

Thanks!
Go to an Airstream dealer.

Andy
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Old 04-22-2011, 12:24 PM   #3
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Appraisal

Andy:
Do you have a set fee for appraisals? and do you submit it to the insurance or just give the owner the document?
Thanks
Dave







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Go to an Airstream dealer.

Andy
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Old 04-22-2011, 02:27 PM   #4
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Andy:
Do you have a set fee for appraisals? and do you submit it to the insurance or just give the owner the document?
Thanks
Dave
Dave.

I must be able to see and inspect the coach, in order to place an accurate on it.

Photo's don't do it.

Yes, I charge a fee, but it varies, but I also include qualification documnents with it.

Andy
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Old 04-22-2011, 02:59 PM   #5
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Quote:
Originally Posted by MrRetentive View Post
My wife and I own a 21' 1971 Airstream Globetrotter. Insurance companies will cover it for only approximately $4,000 unless we can prove greater value. It's been well cared-for over it's lifetime. I know it's worth a lot more.

Does anyone have any suggestions about how I would go about proving a fair value for insurance companies? Are there qualified Airstream appraisers in or near Minnesota? I would think the insurance companies would need documentation from someone with credentials, and would also need proof of value of several similar trailers, much like you go through when obtaining a home appraisal.

I'm looking for advice on how to get this task accomplished.

Thanks!

I would look online for vintage models of same year with similar amenities then declare the sales price of these trailers the replacement cost of your trailer were it to be lost tomorrow. I'd find a small range of appropriate trailers (3-5), copy the website links and email them to the insurance agent as Exhibit A for market value.

If that doesn't work I'd kick your insurance provider to the curb. It's their job to help you and keep you happy with their business, not the other way around. I would give them zero slack. You're the boss. If they don't listen to reason and/or do not appreciate vintage Airstreams, may their business die.
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Old 04-22-2011, 03:15 PM   #6
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We recently went through the same thing for the second time. We called an appraiser who did estate sales and auctions. He looked at our trailer, and then researched comps, and gave us a written statement of value. That was the only way the insurance company would do an "agreed policy". Finding a company that still does agreed policies wasn't easy (went with Farm & City), and we had to do what they would accept, so find out how picky your insurance company is.
Good luck!
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Old 04-22-2011, 05:41 PM   #7
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Originally Posted by SpaceEgg View Post
I would look online for vintage models of same year with similar amenities then declare the sales price of these trailers the replacement cost of your trailer were it to be lost tomorrow. I'd find a small range of appropriate trailers (3-5), copy the website links and email them to the insurance agent as Exhibit A for market value.

If that doesn't work I'd kick your insurance provider to the curb. It's their job to help you and keep you happy with their business, not the other way around. I would give them zero slack. You're the boss. If they don't listen to reason and/or do not appreciate vintage Airstreams, may their business die.
One thing I'd add to this technique is that you need to print copies of the content of the webpages, either to physical paper or to static files with a "save page as" function of your browser.

You have no control over the content on the other end of those links, and never know when they're going to refer to them. If the content is gone when it comes time to fight with them over what they will (or won't) pay after some mishap or theft, your supporting evidence would be gone along with it.
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Old 04-22-2011, 05:46 PM   #8
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I was able to get an agreed value policy from State Farm for a very reasonable price. I had to supply photo's and they wanted a copy of the something showing the original value (I found 68 price list of the Airstream web site).
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Old 04-22-2011, 05:53 PM   #9
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We also had a local estate appraiser come look at our trailer, sat down and talked to him about it's condition and what I thought it was worth, and where he could find some comps. He went and made up an official looking report, sent it off to Progressive, and we're all set. I just hope we never have to test it!
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Old 04-25-2011, 09:53 AM   #10
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Thank you all for your quick responses. We have a line on a local appraiser and will see how that works out.
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Old 04-25-2011, 10:04 AM   #11
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I have Allstate and they simply said they will insure it for whatever value I tell them.
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