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Old 04-14-2012, 03:08 AM   #1
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1991 25' Excella
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Insurance

Most of us will not be able to get the value of our trailer or motorhomes if we have an accident or lose our coach to a Fire or storm. If your trailer is more than 3 years old you will be forced to accept bluebook value if your trailer totaled. Actual cash value in my case will be less than I paid and far less than my improved price. I have spent many dollars on improvement. I have a new refer, couch, furnace and cooktop. Not to mention all the small things that now work after me tinkering for hours. I know of at least $5,000 in improvements since I purchased the trailer. It is our baby and we take great care of the trailer and tow vehicle.

I worked in the insurance industry both as a broker and risk manager. I have not been able to obtain the coverage I want to purchase. I want back what it would cost to replace my trailer and I am guessing most of you do as well. I though I had an agreed amount endorsement but when I asked in writing for that endorsement I was told I did not have that coverage.

Has anyone found a company willing to insure our Airstreams for what we need for the over 3 year olds.

Lynn Porter
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Old 04-14-2012, 04:39 AM   #2
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Lynn,

I have an agreed value plan on our boat with ACE, you could give them a call and see if they can help.

Bob
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Old 04-14-2012, 04:47 AM   #3
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Lynn,
There is an insurance company who advertises in the WBCCI magazine that they offer agreed value policies. Look at page 5. I have no experience with them.....
Bruce

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Old 04-14-2012, 07:31 AM   #4
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I have not found one. Have State Farm. Have a claim in now for a limb falling on the roof. Will see how it goes.

I have accepted the fact that the insurance is needed and good for liability but that I am more or less self insuring for at least half (and perhaps more) the value of an older trailer in terms of replacement.

Not sure if I really would want to pay the premiums on an agreed value for the cost of what I paid for it and the improvements. And I could certainly never sell it for that. Seems to me fix up costs in an old Airstream are worth only the value they give you in service.
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Old 04-14-2012, 08:03 AM   #5
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This subject came up recently and I had an occasion to call Hagerty about coverage on my old cars. The agent said that they have considered covering older trailers with an agreed value. However, one of the problems is the use of propane and potential fire hazards. With a couple of rare exceptions, I consider that the pleasure of driving an old car that's been restored trumps trying to get my money back on an agreed value policy.
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Old 04-14-2012, 08:25 AM   #6
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I'm with USAA and when I recently brought home "Ethel", they told me they'd pay replacement plus 5k of any upgrades I did to her.
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Old 04-14-2012, 09:22 AM   #7
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Originally Posted by Denis4x4 View Post
This subject came up recently and I had an occasion to call Hagerty about coverage on my old cars. The agent said that they have considered covering older trailers with an agreed value. However, one of the problems is the use of propane and potential fire hazards. With a couple of rare exceptions, I consider that the pleasure of driving an old car that's been restored trumps trying to get my money back on an agreed value policy.
Yep....the Ford's insured for the appraised value, a lot easier to find coverage for the old cars though.

Bob
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Old 04-14-2012, 09:38 AM   #8
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I know you asked about trailers older than 3 years, but just as a reference, I'm paying Progressive $600/yr for "replacement" coverage; the deductibles are $2,000 for collision, and $500 for comprehensive, and I live in it. I think the replacement coverage applies to the first 5 years.

I don't know if that's a great deal or not, but it's considerably less than my former insurer, Camping World (GMAC) wanted. (I finally got to do my Donald Trump impersonation by telling them "you're FIRED").
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Old 04-14-2012, 10:46 AM   #9
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Taylormade, this is interesting as USAA told us when we were asking about insuring our '12 that they did not offer replacement value insurance. Perhaps since January something has changed. We went through Progressive and did get replacement value coverage and the rate was better than the USAA quoted rate.
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Old 04-14-2012, 11:19 AM   #10
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I just got insurance through Foremost. I had to get a 'stated policy'. I got our 77 Sovereign insured for a value of $12K (what I believe it's fairly worth) plus $3k in personal effects (generator and gear). It cost me $168 for a year. (the cheapest part of this trailer so far!)
My vehicles have been insured with GEICO for several years but they said max pay out for the AS would probably be about $1000. I called Hagerty, they don't do vintage trailers.

'Stated Policy'... That's the term you need to know!
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Old 04-14-2012, 11:26 AM   #11
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Quick note here....I recently found that my Hagerty coverage on my old cars does not apply to my umbrella policy from another company. Currently looking at a commercial umbrella policy. If you're using one company for your AS and vehicles and another for your homeowners and umbrella, double check that you have umbrella coverage across the board.
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Old 04-14-2012, 01:09 PM   #12
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We have had USAA (a truly great company!) for over 40 years and initially added our 87 AS to our policy with them, but after further research came to realize they really don't habla when it comes to TTs/RVs. We were also told they refer members to (I think) Progressive. But we wound up with a stated value policy with the company that advertises in WBCCI. Very reasonable premium; no claims yet ...
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Old 04-14-2012, 01:17 PM   #13
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If you are dealing with a new trailer, you have some pretty good options out there. Foremost and Progressive both offer some plans that can cover the first 10 years of ownership.

My Progressive plan covered replacement cost of my Classic for the first five years. I'm now on the back half for the next 5 which will guarantee that if totaled, I will get back the original purchase price.

Jack
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Old 04-14-2012, 01:28 PM   #14
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I am in Canada, have insurance through 'Grain Insurance Company' and what you own/how old is not relevant. You pick your length of trailer and then declare your value. I'm paying <> $400 a year for $35,000 coverage on my 06'. If she goes down in flames, I get $35,000... end of negotiations.

I could insure it through them for the full replacement cost ($50K?) if I wanted to pay more.
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