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Old 11-30-2006, 09:05 AM   #1
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1988 29' Excella
PATAGONIA , Arizona
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As Insurance... Why So Cheap

Hi Folks-

I Looked In The Search And Found Little To Nothing On This.
The Pickup Time For My 1988 29ft. Excella Is Close, And I Started The Insurance Hunt. Why So Cheap? I Dont Understand The Full Replacement Part. This As Is My 1st Baby, Is Max Insurance Worth It On A 1988. I Will Be Fulltiming Soon, Will This Change The Price That Much. Most Are Sooming In At $200-$250 For Part-time Use.

Thanks Folks. See You On The Road Someplace
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Old 11-30-2006, 09:18 AM   #2
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2006 25' Safari SS SE
Northern , Virginia
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wHAT iS tHE aSSESSED vALUE?
mIGHT tRY cALLING a fEW iNSURANCE aGENTS aND aSK fOR dETAILS.
gOOD lUCK.
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Old 11-30-2006, 09:26 AM   #3
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You may want to sit down face to face with an insurance agent to fully understand your options. On an older trailer, "Full replacement" value means Blue book value. This means that if your trailer has had substantial repairs, you won't see that reflected in that number.

As an example my tiny trailer (made in 77) has a book value of about $200.00 according to my insurance carrier. We paid a lot more for it and poured thousands of dollars into rehab but if I need to collect on a "replacement value" insurance policy from state farm, I will have to prove the replacement cost to them. And that's not so easy. There aren't many of these trailers around. There are even fewer in great shape with new parts, paint, etc.
Some of of those repairs may be deemed "maintenance" rather than upgrade. You can buy a policy for a fixed dollar amount and there are other options as well.
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Old 11-30-2006, 09:51 AM   #4
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Insurance

We are insured with Progressive and the insurance covers the trailer, appliances and all of our belongs. So the policy is partially written like a home insurance. The cost is reasonable but higher than your quote, trailer is newer 2002 classic, 30 foot.

dale
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Old 11-30-2006, 11:33 AM   #5
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2000 25' Safari
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I went through this in August with my 25' '98 Safari. We got rear-ended, totaled the trailer. Had nice solar, catalytic heater, other upgrades. Insurance (Allstate) only wants to pay what the "NADA" blue book value is. They gave an extra $200 for the solar and heater.
I went back and forth with them and got them to come up a little, but still lost about 4K on what they are going for on the market.
If there are companies out there that will pay a replacement cost, I'd like to find one.

Janet and Rebee, I would be interested in hearing your experience with replacement cost insurance.

Dave
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Old 11-30-2006, 12:07 PM   #6
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Market Value

Quote:
Originally Posted by Fyrzowt
I went through this in August with my 25' '98 Safari. We got rear-ended, totaled the trailer. Had nice solar, catalytic heater, other upgrades. Insurance (Allstate) only wants to pay what the "NADA" blue book value is. They gave an extra $200 for the solar and heater.
I went back and forth with them and got them to come up a little, but still lost about 4K on what they are going for on the market.
If there are companies out there that will pay a replacement cost, I'd like to find one.

Janet and Rebee, I would be interested in hearing your experience with replacement cost insurance.

Dave
We dealt with this when Kartina ate our older, mint condition Class A SOB. The first offer from the agent was 1/3 Kelly Blue Book/NADA. He said one similar to ours had sold nearby for this amount, thus establishing "Market Value". After coming close to arbitration we settled for just under KBB/NADA. Don't assume they will be fair when it comes to settling, ask how they determine the value BEFORE you need it.
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Old 11-30-2006, 03:09 PM   #7
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I'm with Janet on this one. You need to have a face to face with your agent. If there are circumstances beyond what bluebook has it at, you need to document them and of course they will be more than happy to come up with a price....most likely higher than what you have...but only if there are mods or circumstances that justify a higher value.
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Old 11-30-2006, 03:51 PM   #8
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Ventura , California
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Insurance--we use Safeco

We added our trailer to our auto policy and it was very reasonable. We wanted to insure for the amount we paid for the trailer (1969 27' Overlander) not the depreciated price of an old trailer. We were able to insure for what we paid--not what a blue book would say.

We provided photos of the current state of the trailer listing the upgrades and bill of sale to the insurance company.

We have not had a claim so don't know how they will treat us if we do. Our rate was very reasonable--we also store in an indoor storage facility which helped as well. pj
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Old 11-30-2006, 06:56 PM   #9
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I added mine on with Nationwide at an agreed value of $10,000.

It is $42 every 6 months.
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Old 11-30-2006, 08:05 PM   #10
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My '63 is insured by State Farm as agreed upon value. My agent said to make sure I carefully document what I I paid for it and the amounts that have been put into its restoration. He also suggested that I keep a file on what I see Airstreams in a similar condition selling for as well keeping good photographs of mine ( this is what they do for collector cars).
In the past we have always received excellent service from State Farm. Most recently an armed robber being chased by the police lost control of his stolen vehicle and struck the concrete columns and stairway that lead to our house ($22,000 in damage). Our claim was handled in a very satisfactory manner. All I can offer is get a good company and a good agent.
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Old 11-30-2006, 08:12 PM   #11
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Stated Amount

What you want is Stated Amount as Lipets indicated. The same thing they do for classic cars. I have State Farm and it's difficult to get them to understand that when it's a trailer. We gave them the receipt for the purchase price plus all the updates we had done so far. It was agreed that we would keep all receipts for all future repairs/upgrades and updating the Stated Amount was our responcibility on occassion.

You need to make sure Actual Cash Value/Depreciation does not apply to the policy. Keep in mind that the value of a vintage Airstream is an anomaly to insurance companies - they get it with classic cars - you have to make them understand its the same with your vintage trailer. I have 27 years in the Insurance Business, with a different company, and I had to bite my tongue to keep from yelling at my agent. Push back to get what you want.
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Old 11-30-2006, 08:13 PM   #12
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Nationwide agreed value not really so!

I have been running into the same scenarios checking out insurance. My autos and home is with Nationwide. I told them the value I wanted insured and they said they could write it. After reading more information in the forums, I went back with questions and determined the "agreed value" would bascially be depreicated for the age of the trailer. I have an 87 that I have a good deal of money in now and realized that I would not nearly be covered. I ask the local Airstream dealer and they recommended that I call R V America and Gilbert R V Insurance. I have called R V America and they told me that they would write an agreed value policy for a specific amount to be guaranteed but I would first need to get an appraisal from the dealer. I am waiting to do that until I finish the reburbishing which is now almost complete. I don't know the outcome yet, but I do know that most of the people I have talked to are not well covered on their RV insurance if they just have a typical inexpensive policy.
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Old 11-30-2006, 08:21 PM   #13
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Quote:
Originally Posted by 63air
My '63 is insured by State Farm as agreed upon value. My agent said to make sure I carefully document what I I paid for it and the amounts that have been put into its restoration. He also suggested that I keep a file on what I see Airstreams in a similar condition selling for as well keeping good photographs of mine ( this is what they do for collector cars).
In the past we have always received excellent service from State Farm. Most recently an armed robber being chased by the police lost control of his stolen vehicle and struck the concrete columns and stairway that lead to our house ($22,000 in damage). Our claim was handled in a very satisfactory manner. All I can offer is get a good company and a good agent.
We have the same repor with Allstate. We have been with them for 25 years. My agent asked ME what the '66 Tradewind is worth and we set the replacement value a $6000. I think that is fair even though we are putting more $ into it upgrading pumps, univolt upgrade and stuf like that.

Neil.
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Old 11-30-2006, 08:34 PM   #14
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Warning

Please don't compare how the damage to your house will be equated to your Airstream - it's two different beasts. Homeowners policies are typically replacement cost - no depreciation. Trailers are like auto policies and the value will be depriciated unless you get a Stated Value policy. If your agent doesn't understand advise them it's like a classic car.
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