Good Sam Optional Replacement Cost Coverage

[Mrs_RedSHED]

We have Good Sam ERS (Emergency Road Service) and received an email today.

Some of the text:

"Optional Replacement Cost Coverage(3) – We give you a comparable new RV if yours is totaled or stolen, even if you're not the original owner. This protects you from depreciation – you could save thousands!"

"(3) If your RV is totaled or stolen (and not recovered) in its first five model years, we'll replace it with a comparable new RV, even if you're not the original owner. After the first five model years, we'll pay your full original purchase price — not a depreciated amount — toward the purchase of the replacement RV. Replacement Cost Coverage must be purchased during the RV's model year or within the following four years."

Do I read that correctly? Those of us who did not purchase our A/S in it's first 5 years of existence AND their coverage are out of luck when it comes to Good Sam. We would not qualify at all? Are there other decent options?

[2airishuman]

hi mrs red'

i'm not exactly sure what your question is...

the "replacement coverage" rider is only part of the total rv comp insurance coverage.

almost all of the companies that provide this rider limit it to units under 5 years old.

after that time or without the rider, TOTALED trailers are compensated at some other dollar figure than the 'new replacement' price.

like book value or used comparables or some other depreciated calculation.

IF you've been paying for the rider (4-5 yrs) they will give you the original purchase price (not msrp) for stolen/totaled units.

this issue matters IF you don't purchase the 'new replacement' rider or have a 5-8 year old unit that is FINANCED long term.

because it is possible to get 'upside down' and owe more than the book value.

at the other end of the spectrum is old trailer owners that have lots of cash into a restoration...

but those folks can purchase ab "AGREED VALUE" rider to cover some/most of the upgrades.

so good sam comp coverage is available, but the 'optional replacement cost cover' is only available on newer units...

and then ONLY if you actually pay for the rider!

lastly, ALWAYS READ THE ACTUAL POLICY AND RIDERS....

don't rely on mass mailers for details.

cheers
2air'