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Old 08-01-2012, 07:22 PM   #15
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Carol,

Did you just buy a trailer that has granite counter tops, new axle, and BBQ pit on the a frame? out of Dallas?

Steve
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Old 08-02-2012, 11:59 PM   #16
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We have a 1963 restored Bambi. We contacted our regular auto insurance, State Farm, and they insure our trailer... we had to supply photos and links/images of similar trailers (ebay, etc.) to help establish the value. We were able to do all of this with a minimum amount of trouble. We also carry extra towing insurance with State Farm in case our tow vehicle breaks down, because we didn't want our Bambi sitting alongside the road by itself. We have ours insured for its value and the extra towing.
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Old 08-13-2012, 11:01 AM   #17
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I haven't had to deal with agreed value because we have a pretty new trailer, so I'm ignorant on this.

I think the issues are affected by tradition. A car or truck declines in value until it becomes a classic and then there is probably special insurance for that. I don't know because I don't own any Duesenbergs. A house traditionally increases in value (except lately) and insurance companies are used to increasing insured value for real estate.

As anyone knows who has dealt with underwriters, they are very conservative and unable to bend. Most RV decline in value and then fall apart. That is what they know and the Airstream market is small to them. It is not cost efficient to check it out and understand it. It also takes a lot of time to learn about it and develop tables for Airstreams. Thus, some many entertain your request if you hire an appraiser, just like they want appraisals on mortgages.

Insurance agents are salesmen only now. It used to be a profession with good income (my father-in-law was an agent years ago until he retired more than 20 years ago), but the insurance companies cut commissions over and over and now the agents have no power and make less money. If you have a claim, you call the company, not the agent. The agent used to steer you through the process and make sure you were treated well; no more. Agents I have talked to are unhappy with this and have no more regard for the insurance company than the rest of us do.

The only thing to do is call the company and find out what the situation is for each company. You may talk to someone in a call center who doesn't know much either. It is a struggle not unlike dealing with health insurance. Usually it takes a lot of time which not everyone can do. I have no idea where one finds an RV appraiser but the insurance company may have a list of such appraisers and it may be they are people who undervalue the RV. This is not a good situation. Once you find a company that has "agreed value" policies, you may find there are lots of loopholes in the policy favoring the company and then you'll have to go to law school to understand what you are reading, and even then, you may not understand it, or see there are multiple interpretations. When I read a policy of any kind I find ambiguities, vagueness, poor drafting and appeals stacked against the insured. This works 2 ways—they can deny coverage, but usually on flimsy grounds, and those grounds are easy to challenge for some people (see part about going to law school), but the company counts on you accepting their interpretation. Most people don't challenge them or don't know how, so this works for the company.

Since our trailer will be 5 this fall, I'd better look into this. I do not look forward to it.

I'm sorry I can't tell a better story.

Gene
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Old 08-14-2012, 07:54 AM   #18
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Foremost has a very good reputation with vintage owners for standing behind their agreed value policies. The rates I got were very competitive with other quotes I received. I hope I never have to test them, but I think they will be easy to deal with if the need comes up.
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Old 08-14-2012, 08:25 AM   #19
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Just an update... we got a hold of Farm & City (FCIS), told them what we where looking for. They gave us the name of the nearest appraiser to us. We had him come out and do a written appraisal and photos which he sent to FCIS, and the next day we had an agreed upon issurance policy. No muss no fuss.
Barry& Karen
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Old 08-14-2012, 10:11 AM   #20
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Just an update... we got a hold of Farm & City (FCIS), told them what we where looking for. They gave us the name of the nearest appraiser to us. We had him come out and do a written appraisal and photos which he sent to FCIS, and the next day we had an agreed upon issurance policy. No muss no fuss.
Barry& Karen
This is how State Farm insures mine - sort of. I submit an appraisel and photo's each year and if I submit a claim then they have the option of having an independant appraiser submit an appraisel. If his is significantly different then mine then I can submit another appraisel from a 3rd appraiser and the median appraisel will be used - unless they decide to dispute the third appraisel and then who know what happens. Not sure how well an after the damage is done appraisel works but that's the way it is.

Personally I think this is kind of stupid. I should be able to name a value to which they name a price to insure it for that value, end of story. Works that way for classic cars and airplanes, why not vintage Airstreams. I couldn't find an insurance company that was willing to go that way though. In fact half or so of the companies I talked with wouldn't even cover it.
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Old 08-14-2012, 11:34 AM   #21
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Jinkers, how much do the appraisals cost you?

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Old 08-14-2012, 03:14 PM   #22
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I'm not sure who does your appraisals but the classic cars I've insured all worked the same way... A certified appraiser versused in classic cars does a written /photo appraisal then submits his appraisal to the insurance comp[any. At that point, it is a known value and will be dealt with as such by the insurance company.
You can't go out and say my hotrod is worth $500,00 and them just agree to it. There would be a lot of "stolen" vehicles if done that way. ... just sayin.
BTW most appasiers I've used cost about $200-$250. The guy that did the AS was $216.00
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Old 03-05-2013, 12:49 AM   #23
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What do you think AARP is gonna say when I tell them I need to insure my 1979 Sovereign?? Lol somebody's gonna hit the ceiling! Anybody else have AARP?
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Old 03-05-2013, 10:05 AM   #24
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AARP would not insure my 1964 Bambi II for any price.
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Old 03-05-2013, 10:48 AM   #25
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State Farm insured Little Girl without an appraisal, but we're not finished yet either. We met their requirements of having the trailer 75% complete and fully functional. We sent in to their classic vehicle group (through our agent) about 35 pictures and a spreadsheet that lists each item we had purchased, the date we purchased it, and it's cost, including the initial cost of the trailer. The total cost so far was about $28K. We asked them to insure her for $30K, and they agreed.

Once we have her completed, we will get an appraisal and submit that to State Farm to adjust the amount we are insuring her for. And I'm sure the premium we pay...

Chris
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Old 07-23-2013, 10:49 AM   #26
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We have a '56 AS Caravanner and I just spent a month researching new "Stated Value" insurance after reading my Foremost policy carefully (it was not stated value as I had imagined). Nearly every company Progressive, Blue Sky, all listed on this forum were not willing to give Stated Value. Farm & City gave me the policy I wanted after an appraisal that came in at $28,000. They require photos inside and out and the original appraisal. I hired TraderMick to prepare the appraisal, found his name on this forum.$225 and well worth it. My premium dropped from $420 with Foremost at a 15k valuation to $266 for $28,000. This is the agent's email MSolberg@rvadvantage.com, her name is Monica. The appraiser is modell@tradermick.com.
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Old 07-23-2013, 11:36 AM   #27
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Fast forward a year since we signed on with Farm & City. As renewal came around I got a letter from F&C stating that it was in fact time to renew. My premium went up a WHOOPING 36%. The reason stated was because of so many damage claims in our "district". That plus the fact that it is standard procedure ( their words not mine) , on your birthday that they raise your premium, kind of a 'happy birthday' thanks for being a customer. BTW we made no claims and did in fact build a $8000. building to house our Safari in... :>(
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Old 07-23-2013, 11:46 AM   #28
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Fast forward a year since we signed on with Farm & City. As renewal came around I got a letter from F&C stating that it was in fact time to renew. My premium went up a WHOOPING 36%. The reason stated was because of so many damage claims in our "district". That plus the fact that it is standard procedure ( their words not mine) , on your birthday that they raise your premium, kind of a 'happy birthday' thanks for being a customer. BTW we made no claims and did in fact build a $8000. building to house our Safari in... :>(
We also have our 65 insured with Farm & City (they are underwritten by Allied Ins.) We also had an appraisal done, submitted pics and insured for Agreed Value. We have not seen any rate increases at all and we are also in Michigan.
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