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Old 02-13-2007, 04:49 PM   #1
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Question Agreed Value Insurance

I am in the process of restoring a 1978 Argosy 24. Where do I go for agreed value insurance?
This is my third trailer to update. Did a 68 Avion 24 foot interior and an 84 Airstream 25 foot interior.
In August 1956 my wife, Jeannie, and I took our first camping trip in a 1952 Chevy with twin mattress in the back. Since then we have been in pup tents, a cabin tent, a couple pop up campers, several hard side trailers, a fifth wheel, A Scotty motor home, Airstream Landyacht motor home, and now travel in 1996 Country Coach Allure more than we are in a house. With 50 plus years on the road I have picked up the nickname "GoJimmyGo".

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Old 02-13-2007, 05:27 PM   #2
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Welcome to the forums!

Insurance has been a much talked about item here on the forums. Airstreams seem to be unique enough that they are a problem for insurance companies to price. That was my experience.
Do a search for insurance and you'll find some lengthy threads on the subject. I have read most of them and still haven't decided what I'm going to do in the long term. For now I just left it with my Home/auto carrier.
Good luck, and welcome.

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Old 02-13-2007, 07:13 PM   #3
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Please see the below from a previous post.

A Few Thoughts
First "agreed value" is a reference used in property policies. Where I would agree with the agent (I being the insurance company underwriter) that the value used is correct. Therefore, coinsurance would be waived as long as the property was replaced.

As for a value showing on an auto policy - absent the below - it's used for a rating basis for the physical damage on the trailer. It is not the settlement value. On a new car for example we use the new vehicle value as a "rating basis" - when you wreck it 2 years later settlement is on an Actual Cash Value basis (ACV). ACV is replacement cost less depreciation.

In order to avoid ACV on an auto/RV policy you need a Stated Amount Endorsement. This is a definition from an insurance internet site.

"Stated Amount Endorsement

This endorsement is typically used for an unusual or valuable piece of property that does not fit standard descriptions and, instead of declining, retains its value. For example, a classic Austin Healey 3000 Mark IV might be covered by this type of endorsement to a Personal Automobile Policy (PAP)."

Most agents and underwriters understand this endorsements use on classic cars but are not used to it on an RV. Tell the agent to treat your Airstream the same as a classic car. Various companies will require different things to attach Stated Amount - up to and including a market appraisal. Keep in mind that some companies may not have the Stated Amount Endorsement filed with the State Insurance Department to attach to an RV policy, since they would not have anticipated it ever being used.

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