Insurance

[tn2]

I will soon fly out to AZ to pick up my 1978 Argosy. Has anyone had problems getting insurance on these older units? If so....what was your solution to the problem.
Thanks Charles

[Fyrzowt]

Tn2,
Due to the late hour, I'm not up to tackling this issue tonight, not sure if I'm qualified anyway.
I would suggest a search on the subject, I know there are several threads on the subject, one was earlier this week.
I guess the short answer is, I don't think you'll have problems getting it, but there are different levels of coverage.
Good luck.
Dave

[bobchevy89]

hello, I had a problem with my 77 argosy moho. all said too old. I now have progressive . they insured it but the value for it is the price I paid for it. but the preium I paid for the year was execellent .
Bob

[GStephens]

I insured through Foremost. I haven't had a claim in the four years I've had Foremost so I can't speak to the issue of how they settle, but Foremost is a travel trailer insurance company. I insured through with them through my existing insurance agent who handles my other insurance needs through a variety of companies rather than directly with the Foremost company. That way I have my agent to run interference if I need him and to submit claims on my behalf. I don't have to get as involved should a claim arise. It is what they do.

On a new trailer Foremost offers full value replacement for the first five years. No discounted value due to depreciation. On used trailers, I just declared the value of the trailer and am charged an insurance premium for that amount. There was no need for an appraisal and no argument over its "true" value, whatever that value was/is. I simply pay based up my declared value and the deductible option I selected. If I incur a total loss, the declared value is what I will receive. Any lesser loss would be handled by the estimated costs of repair based in turn on the estimates submitted by repair facilities.

You might wish to check them out at Travel Trailer Insurance - Foremost RV Travel Trailer Insurance . I am sure there are other sources of trailer insurance such as through the Good Sam club. I think the key here is to not attach your trailer to your auto policy. They aren't used to insuring trailers, especially older trailers, and when a claim is submitted and they can't find a blue book value, the results are not something that you will be pleased with. You sort of get what you pay for with Foremost and other insurance companies that insure for declared values. You don't really get anything from the companies who rely upon some non-existance blue book value involving a twenty or thirty year old trailer.

GStephens

[tn2]

Thanks everyone for your input. This site really has some good info for us newbies to RVing.
Charles

[Silvertwinkie]

It took some time to get my vintage boat insured with State Farm. I would assume they'd be the same with a vintage trailer.

Now the age and value of my vintage boat, I could self insure it alone, but the main reason I carry insurance on it is for the liability and medical costs if someone were to get hurt while on board or I did something dumb and wrecked someone else's property with it.

[tn2]

I went to my homeowners and car insurance agent....I have so many things insured with him I guess she could not say no. She (my agent) did it all over the phone....no problem at all. She even noticed that I was able to go into another "bracket" and she LOWERED my car insurance....can't beat that.
Charles

[kposey]

tn2, which company is your insurance with?

[tslanier]

GStephens/Foremost
They will tell you to declare a value, however when I pressed them I was told that it was not an "agreed value" which would be guaranteed, but the unit would be depreicated based on the year model, which offers no real coverage for a refurbished older model. You have to have an "agreed value" policy which they told me they did not write. I have found out through RV America, which is an independent agent who can place the policy with varioius carriers, that I can get an "agreed value" policy through them with an appraisal from a dealer. I am going to take mine to the local Airstream dealer and get that done and then proceed. Many people are extremely underinsured and don't know it as I have read on this thread that they assume because it is with a reputable company that they have other insurance with, they "assume" they are protected.

[GStephens]

I agree with all of your statements as to folks assuming they are covered when they aren't. That was the whole premise of my post. I thought I'd covered that ground when I took out the "declared value" policy. The information you share is interesting, informative and alarming. You may be assured that I will be paying a visit to my insurance agent's office bright and early Monday morning. I trust my small town agent to make certain these sort of things don't happen to me. I have my fleet of vehicles and all sorts of things insured with them through various companies. If what you say is true, and I have no reason to doubt your information, then I will be MOST upset. For me, that would be tantamount to fraud as the reason I went with Foremost was this very issue.

My trailer is a 1982 in mint condition. It was in mint condition when I purchased it as it was meticulously maintained and always stored in a climate controlled warehouse when not in use; therefore, I paid more than the average price that one might find other 1982 Airstreams priced for sale. I, in turn, have now put close to an additional $8,000 into it updating various items and systems and installing new items never before on the trailer.

I have never filed a claim, nor have I ever asked them to raise the "stated value" as I've installed these systems and updates. I was confident that if the worse case scenario ever came to pass, it would at least be insured at the "stated value."

Thank you for the heads up on this one.

GStephens

[GStephens]

As promised, I visited my local insurance agent this morning. I carried with me copies of my post and your response where-in you indicated that when you pressed Foremost Insurance Company, you understood that should I file a catastrophic claim, Foremost would depreciate my coach based upon its year model and that the Foremost offered no such thing as an “agreed value” policy.
I don’t have an explanation as to the differences in “agreed value” and “actual cash value” policies. I don’t know whether we are getting two different answers, are interpreting the same information in different ways, or if different employees may have different understanding of their policies, verbage and practices. My agent contacted Foremost this morning with my policy in hand and talked with “Erin” at Foremost. Erin in turn consulted with his supervisor when my agent further pressed the matter in order to make certain that his response was accurate. They reviewed my policy - not some theoretical question about policies in general. The response my agent got form Foremost was that you are technically correct. Foremost does not offer an “agreed value” policy and I do not have an “agreed value” policy with Foremost. I have an “actual cash value” policy. Words are just words and can be quite confusing but the “actual cash value” policy was represented as doing just what I understood it did. If I suffer a catastrophic loss, I would be paid the “actual cash value” for which my policy is written and for which my trailer is insured. This value is shown on my policy and is shown on all related billing forms. My noted in my insurance folder the preceding information. the date and time of this conversation and what was said in the conversation. I believe I am protected. Just to be on the safe side, I also intend to get an estimate of the value of my coach while it is at the dealer’s this week for maintenance. I’ll have my agent file a copy of the estimate of value in my folder as well.
GStephens

[Ganglin]

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, depreciation 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 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.

[Chaplain Kent]

I want to toot the horn of our insurance carrier. You can read the entire saga under the $14380.00 oil change thread in the MH section but in short they really stepped up to the plate. They spent many hours establishing value with my help and advice. Next went to bat for me fighting the battle that this was a "classic" even though I did not have it insured as such. End result was a new engine installed, over $20,000. This was two years ago and to date no rate increase. That is American Family Insurance.

[krwrite]

I insure with STate Farm in Alabama. They insure travel trailers and package them with y our car insurance (and other) and give a discount on the package.
As for pay. I had an airstream almost destroyed by a storm. The adjuster was great and paid the value of the trailer based on cost information from this site as well as others.
No problem there and it was inexpensive.

[Normin storm]

I am also coming from the Uk to buy my first Airstream Excella and would like to know how to tax and insure it I intend to drive round SW U.S.A is it hard to tax and insure not being a resident only a tourist any ideas would begood

[w5wi]

I have my three Airstreams insured with USAA on my auto policy. My 25' Caravanner was damaged during the January ice storm when a tree limb crashed into the rear shell. Damage was estimated at 5k. Thankfully the USAA adjuster worked with me while I found comp trailers to demonstrate the Airstream was worth more than that, and they paid me to have the repairs done. Luckily I had 0 comp deductable...