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Old 03-24-2008, 05:16 PM   #15
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I am looking to change over from State Farm for my insurance coverage. It was fine back when I bought the trailer and I only had a few thousand dollars invested, but now the restoration is done, I've invested thousands of dollars and untold hours of my own time, and thanks to Airstream's increased popularity the value of the trailer has increased so much that I would like to get a policy with an 'agreed on' value, or whatever they call it. I don't mind paying a fair amount to insure it in the event of an accident. I would be more comfortable knowing that if the trailer was totaled, I would be covered for an amount that will allow me to get another finished Caravel and get back on the road, instead of starting all over from scratch. I can tell from the amount I'm paying at State Farm ($25 a year) that they do not understand the value of the trailer, and it will be a big fight if anything happens.

So I guess I'll call Progressive and Foremost, the two insurance companies already mentioned here. Does anyone else have any further insight into vintage trailer insurance?
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Old 03-24-2008, 07:22 PM   #16
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Cool Getting ready to update...

We have Farm Bureau Insurance and have for many years. We are allowed to insure our trailer for the amount of money that we have into it. In fact, we will be updating our insurance soon as we will be on the road at the end of April. I hadn't been recording our receipts as regularly as I used to at the begininng of our rebuild, and was astounded as to how much we have spent on Moby since his purchase in 2004.

The insurance agent will be receiving documentation and pictures, and a request for an upgrade to $13,575.41. But we know that everything works, it doesn't leak, the bed is comfortable, and it's paid for!!!!
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Old 03-25-2008, 07:04 PM   #17
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Thumbs up Progressive Changes

I got a letter from Progressive this afternoon about changes to my RV policy to become effective March 31, 2008. Pet Injury insurance now comes free with an RVs Comprehensive and Collision coverage. Also, if you have Personal Effects coverage, they will now pay first for a covered loss before any other insurance you may have for those valuables.

I dont have pets, but I think this is a very nice thing for those that do. I do appreciate them deciding to pay first, too.
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Old 04-07-2008, 01:35 AM   #18
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Quote:
Originally Posted by Stefrobrts
I am looking to change over from State Farm for my insurance coverage. It was fine back when I bought the trailer and I only had a few thousand dollars invested, but now the restoration is done, I've invested thousands of dollars and untold hours of my own time, and thanks to Airstream's increased popularity the value of the trailer has increased so much that I would like to get a policy with an 'agreed on' value, or whatever they call it. I don't mind paying a fair amount to insure it in the event of an accident. I would be more comfortable knowing that if the trailer was totaled, I would be covered for an amount that will allow me to get another finished Caravel and get back on the road, instead of starting all over from scratch. I can tell from the amount I'm paying at State Farm ($25 a year) that they do not understand the value of the trailer, and it will be a big fight if anything happens.

So I guess I'll call Progressive and Foremost, the two insurance companies already mentioned here. Does anyone else have any further insight into vintage trailer insurance?
I have my 67 Caravel insured with State Farm for it's actual (agreed) value, which in this case is $9500. Premium is $81/yr, and they didn't ask for any appraisals or comparable sales or anything. Just call them and tell them what you want to insure it for.
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Old 04-07-2008, 08:00 AM   #19
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I was told by Foremost in order to get an agreed value appraisal I need a statement on letterhead from an Airstream Dealer saying what it is worth.
There is only one dealer in my area (Albuquerque) Holiday RV. I called him when I came through from a trip last weekend. He said an appraisal would cost $50. I drove to the lot and he basicly laughed me off the lot, pulling out a NADA book which went back to 1975. Says NADA says a 75 is only worth $1300 with the implication my 71 must be worth less. He would not even look inside my coach Said "I'm not going to put my name to that" and asked me about the dent on a front panel. He did not hesitate to tell me he could replace the panel, which was repairable without replacement, and then might give me an appraisal.
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Old 04-07-2008, 08:20 AM   #20
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I would expect that kind of attitude from a NON-AIRSTREAM RV dealer (it's the same attitude I get at my local), but that kind of treatment from an AS dealer should warrant a boycott IMHO. Any new dealer who can't appreciate vintage is not a true Airstream person, but simply another hustler out to make a buck...using the Airstream brand to do it. Thumbs down on Holiday RV of Albuquerque...
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Old 04-07-2008, 02:49 PM   #21
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Albuquerque AS Dealer, More

The rest of the story:

A few months ago I contacted Holiday RV of Albuquerque because I wanted some minor work done on my furnace. The furnace is a fairly new NT30 not the original. I was informed this dealership has a policy they will not service any coach more than 15 years old.

Feel free to draw your own conclusion.
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Old 04-11-2008, 04:38 PM   #22
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Exclamation

Quote:
Originally Posted by Lumatic
I was told by Foremost in order to get an agreed value
Like others with older Airstreams with updated equipment and remodeling I wanted to upgrade my current insurance coverage on the 1976 A/S. So I spoke to my agent about an "agreed value" policy from my current carrier Kemper and a quote from Foremost and Progressive. Kemper would not offer a quote but Foremost and Progressive did. Both said that they would set the coverage amount based on documentation or appraisal of the trailer from an A/S dealer or my local RV service shop, Bob Jones RV in Houston. They have been servicing Airstreams for over 30 years.

Sounded good until I started going over the details with my agent. Although they would issue a policy with what appeared to be an "agreed amount", claims would be paid on a deprecated amount at the date of loss. If the trailer was totaled they would pay based on the deprecated value of the items on the trailer that I had sales receipts on, AC, tires, wheels, Hensley, etc, etc back to the date that they were purchased. Not at replacement value. Foremost told my agent that the trailer itself (the shell) had a value of only $1,200 based on their source for determining payment.

So the agreed value as I see it does not do anything for you. On a total loss you get pennies on the dollar.

Maybe someone has more specifics on how their insurance coverage is written for Vintage Airstreams to avoid this situation.

Thanks
Don Hardman
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Old 10-20-2008, 10:51 AM   #23
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Quote:
Originally Posted by adonh View Post
Like others with older Airstreams with updated equipment and remodeling I wanted to upgrade my current insurance coverage on the 1976 A/S. So I spoke to my agent about an "agreed value" policy from my current carrier Kemper and a quote from Foremost and Progressive. Kemper would not offer a quote but Foremost and Progressive did. Both said that they would set the coverage amount based on documentation or appraisal of the trailer from an A/S dealer or my local RV service shop, Bob Jones RV in Houston. They have been servicing Airstreams for over 30 years.

Sounded good until I started going over the details with my agent. Although they would issue a policy with what appeared to be an "agreed amount", claims would be paid on a deprecated amount at the date of loss. If the trailer was totaled they would pay based on the deprecated value of the items on the trailer that I had sales receipts on, AC, tires, wheels, Hensley, etc, etc back to the date that they were purchased. Not at replacement value. Foremost told my agent that the trailer itself (the shell) had a value of only $1,200 based on their source for determining payment.

So the agreed value as I see it does not do anything for you. On a total loss you get pennies on the dollar. Maybe someone has more specifics on how their insurance coverage is written for Vintage Airstreams to avoid this situation.
Interesting read....

Does anyone have an update to this post?

Looks as if Foremost or Progressive (maybe State Farm?) would be the way to go.

Has anyone actually had a claim (good, bad, or indifferent) on a Vintage Airstream?

Enquiring minds NEED to know.
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Old 10-20-2008, 10:57 AM   #24
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I have allstate, i just told them what I wanted it insured for, but that was just the purchase price... as i restore I will also keep receipts and take pics, and up the price....
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Old 10-21-2008, 11:03 AM   #25
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Thanks for all of the help

Special thanks to fellow Texas Airstreamers (Adonh and Gstephens here on the Forums) for helping me to sort through the Insurance Maze.

I actually pruchased a Progressive policy through FCIS (FCIS Insurance, Your RV Advantage), a WBCCI affiliate.

State Farm, who has insured my autos since I was 16, and ALL of my houses since I owned houses, would not even return my phone calls - might be time for a major change.

When questioned Foremost did not appear to offer a real "agreed value policy".

A quality RV repair shop here in Houston suggested that the shop has experienced acceptable business dealings with all three of the above mentioned companies.

BTW, the annual premiums for three levels of insurance quoted were in the $400 to $600 range.
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Old 10-21-2008, 08:34 PM   #26
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We have Allstate. Allstate has insured my homes and vehicles for over 25 years. The few claims that we have turned all have been handled to our satisfaction. 2 1/2 years ago we bought our Trade Wind and insured it with All/St at an agreed value of 5k. Well to no ones surprise we have more than doubled that value with upgrades and improvements. I plan on uping the value and have been compiling the sold prices on similar Airstreams to support my argument if need be. But first I am entering the begining of a claim for side panel replacement (Oops I scraped a steel post). Allstate has given me a claim number and I have selected the Airstream shop to do the repair. Rough verbal estimate is 3k to 4k. The shop is about to turn their estimate and thus we will hear soon the results. Wish us well. I will update you.
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Old 10-21-2008, 10:16 PM   #27
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All this upgrading of insurance without an "agreed value" policy through various companies is well and good PROVIDED you don't suffer a catastrophic loss. Bragging about how cheap your premiums are is well and good PROVIDED you don't have a catastrophic loss.

Panel replacement from a hail storm can easily exceed $25,000 on one of our trailers. On a vintage trailer, we might feel we know what its value is, but I assure you the insurance company without an "agreed value" policy will discount the overall value of your trailer to a rediculously low value if you only "stated its value" regardless of how many documents you show them. 'Agreed Value" ande "Stated Value" policies are two entirely different products (policies). You loose big time when if you don't know the difference.

If you own a newer trailer, then these problems don't arise because the trailer's book value will exceed the cost of panel replacement, but on a vintage trailer you must get an "agreed value" contract. To have such a policy requires two things: 1) the trailer must be appraised, and 2) such a policy requires an insurance company that offers an "agreed value" policy. Ask all the questions of your various insurance companies and you will find that only one offers such a policy on older Airstreams at this time. At least that was the case several years ago when I researched this question. That company is PROGRESSIVE.

In an earlier post I told how I "thought" I was covered through Foremost. As I am trying to do with you, another forums member tried to tell me different and I argued just as many of you are now doing. That forums member stayed with me and eventually convinced me. Had he not I would have learned a very expensive lesson just like some of you may learn, The agent had even told me I'd be covered. I had talked to someone who answered the phone at headquarters and they also told me I was covered, but at the insistance of the forum member who was trying to help me, I phoned the company headquarters again and had a discussion with a supervisor. He eventually admitted that I wasn't covered through the Foremost "stated value" policy. He said my trailer would be depreciated, perhaps severely from the figure entered on my policy. My coverage and the value of my trailer would certainly be discounted in the event of a catastrophic loss and I would not be covered.

I contacted Progressive and I took out an "agreed value" policy. It required an appraisal. I contacted three different Airstream dealers before I found one who would give me an appraisal on my trailer, but I secured one eventually. It was appraised for $17,000. I accepted that value even though I thought it was worth more and obtained my policy through Progressive.

Several years later (two years ago) I did suffer a catastrophic loss to the tune of $24,000 damages to a 1982 trailer in a hail storm. It doesn't take a genius to know that most 1982 trailers are probably not worth more than $6,000 to $8,000 on eBay and there is no Blue Book value on a trailer that old. That is all I would have received had I not had the "agreed value" policy, but I had an "agreed value" policy with Progressive in the amount of $17,000 and they paid right off. Try that with any other type of policy, especially those of you who are insuring your trailer as an attachment to your auto policy or those paying $80 a year for your coverage. If you have a repair for more than a few thousand dollars, the insurance company will simply total your trailer. Then it will be too little, too late and a VERY expensive lesson learned.
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Old 10-23-2008, 12:53 PM   #28
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Vintage Insurance

Okay, we have been looking at vintage airstreams for several months and this insurance thing comes up. We find a 77 sovereign to look at for $7,000 already with the new axles-tires-wheels- refer. It needs cosmetics to the inside. So I picked up the phone and called Progressive. They quoted me $161/year for agreed value of $7K - $500 deduct and other goodies (deluxe package). So at least if it gets crushed by a tree I can go out and get another one in the same ball park.

1st post,
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