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Old 05-07-2013, 10:49 AM   #1
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1968 22' Safari
Bay Area , California
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Accurate Replacement Insurance for a vintage Airstream?

Hi all,
Can anyone tell me how to properly insure my vintage Airstream? My 1968 Airstream is basically original and in excellent condition... repaired bathroom floor, new carpet/curtains/upholstery (of course), replaced fridge (Dometic gave up the ghost), excellent exterior condition except it needs polishing... It has been in my family since I was six (now I'm in my 40's) so there have been only the most limited modifications.

I am looking at Airstreams of similar condition going for anywhere from $14k - $25k due to size (desirable 22') and condition (we didn't rip out cabinets or update the era), but my insurance company (State Farm) designated its value at $10k because the value is so subjective. Does anyone know where I can get an accurate replacement value insurance plan? If, god forbid, anything happened to the old girl, $10k in this market would get me a really crappy 70's laminate fixer upper in the 29' range (much too big to camp in where we like to go). I'm in CA, FYI.

Thank you so much for the advice!
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Old 05-07-2013, 11:28 AM   #2
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1964 24' Tradewind
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I called my insurance agent and told her I bought my 64 Tradewind for this price and insured it for that amount of insurance. After I had done some restoration I called back and said I now thought it should be valued at a new price. She had no problems with this but asked that I keep her updated with pictures as I continued with restorations. No inspection nessary. Of course I will not know if really was the right way to go about it unless I have a claim.
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Old 05-07-2013, 02:37 PM   #3
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Contact Jim and Lynda Polk, Silverpal here on the forums. They have a highly respected business based on insurance values for vintage Airstreams and other vehicles. Jim gave a very informative presentation at the vintage restoration academy in albuquerque this week. Good people.
shoot them a PM, you will be very happy you did.
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Old 05-07-2013, 02:50 PM   #4
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1968 22' Safari
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Thanks for this, but my problem is that this was purchased last by my dad in 1976 for $4000, therefore I have no recent relevant sale price. I was thinking maybe people who specialize in classic car insurance might insure trailers?
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Old 05-07-2013, 03:53 PM   #5
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Thank you!
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Old 05-07-2013, 04:56 PM   #6
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Originally Posted by Bessie1968 View Post
Thanks for this, but my problem is that this was purchased last by my dad in 1976 for $4000, therefore I have no recent relevant sale price. I was thinking maybe people who specialize in classic car insurance might insure trailers?
Many insurance agencies offer specialized RV insurance, for either motorhomes or trailers. Progressive and GMAC are two that I personally know of. You can get "agreed value" coverage based on whatever you and the agent can agree upon; it needn't be the purchase price. The agreed value could be the cost of the restoration— probably as long as it doesn't exceed the price of a brand-new unit of the same size. I doubt they'd insure a fixer-upper for more than they'd insure a new unit.

And if you don't belong to Good Sam, you might want to join, just for the insurance break. When I insured my new Interstate, I got quotes both with and without a Good Sam discount, from the same insurance company. Just spending $24 per year to join Good Sam (maybe it costs more now, I'm not sure) saved me way more than that on the insurance, so if I never use any other perk of the membership, it has more than paid for itself.
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Old 05-07-2013, 05:00 PM   #7
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Our vintage Airstream is covered by an agreed value policy. We had to provide an appraisal, and got very reasonable rates and a fair value. Our auto insurance company would have covered it for three times the price, though. We were told they consider all travel trailers to be in the same category as motorhomes - wanted us to list drivers.
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Old 05-20-2013, 10:37 AM   #8
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Vintage airstream travel trailer insurance

Just FYI, I just insured my 1978 Argosy Minuet 6.7 meter with Allied (Nationwide) thru an agent of Farm and City Insurance, 800-331-1520. They required an appraisal for an agreed upon value insurance policy. I used Tim Curran, 954-732-6241, as my appraiser. His cost was $150 plus $75 for travel to my house. The appraisal value came out as $14,500 and the yearly premium is $600. This is a full timers policy.
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Old 12-04-2013, 11:27 AM   #9
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Tim, thanks for the shout out! Yes, Polk Associates is an American Society of Appraisers certified corporation. Our appraisals are accepted by fiduciary institutions, insurance companies and the IRS. We have completed hundreds of Airstream appraisals and would be most happy to help out. Bessie1968, give us a call and let's see if we can assist you in any way. - Lynda 805.646.7293
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Old 12-04-2013, 12:02 PM   #10
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I supplied State Farm with advertised prices for many Airstreams ( like 15) similar to the one I was insuring. That established the replacement value for me.
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Old 12-04-2013, 12:35 PM   #11
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My State Farm agent wouldn't write an agreed value policy, and said the value oft he trailer would be determined when it was necessary to make a claim. I wasn't comfortable with that, so we went through AAA and got an agreed value policy from Progressive. We had a local estate appraiser write up an appraisal, and they accepted it. That was about 5 years ago when we finished the major restoration work. I think it's value has increased, and I have been thinking of having it re-appraised so it is insured for an amount that would allow us to find another Caravel in the same condition if anything happened to it.
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Old 12-04-2013, 03:16 PM   #12
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Oddly enough, I originally insured the argosy for the purchase price through Progressive. After I finished the restorations, I called back and insured it for what I thought was a reasonable figure. They did not require an appraisal or any documents at that time. They did however ask me to keep any receipts and to photograph everything.
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Old 12-04-2013, 04:38 PM   #13
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Oddly enough, I originally insured the argosy for the purchase price through Progressive. After I finished the restorations, I called back and insured it for what I thought was a reasonable figure. They did not require an appraisal or any documents at that time. They did however ask me to keep any receipts and to photograph everything.
I just called to change my address with Progressive and was told that they will no longer be offering Agreed Value policies. When mine current policy expires in January, (I was told that) it will be modified to be a replacement value type policy. WTF?

Laura
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Old 05-01-2014, 04:06 PM   #14
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Funkill, I just got off the phone with Progressive and I do have an agreed upon value for my vintage 76 AS for $8000. They specifically stated a few things:

1. That number means nothing. The actual value would be based on "current market value". I could easily see an AS being compared to a 40 year old white box and getting about $10 for it.
2. They stated getting an appraisal from an RV dealership or repair place, on letterhead and official looking.
3. They then stated that if my appraisal is greater than the current agreed value, I'll need to send that paperwork in to prove it. They made it seem like that would be the value we then went with in the event of a major disaster that totaled the AS.
4. Finally, they stated they knew nothing of agreed value going away on Progressive insurance plans.

I've got the "full-timer" package which also entitles me to coverage in Mexico, $1000 to pay any fire department bills that may be incurred, $7500 that can be used for a hotel room, etc. if we can no longer live in the AS, and an additional $5000 replacement cost.

So, after speaking with them, I'd recommend Progressive in a minute. That said, I've never had a claim with them so don't know what would happen in reality.
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