Insurance coverage for 03 Bambi

[starPK]

Trying to determine the right amount of insurance to carry on our newly acquired 03 Bambi, just arrived to us in July. NADA guide values it around $5000, which doesn't seem like the actual cost to buy an 03 Bambi in great condition with lots of add-ons. (we didn't pay fair market value as it was a family deal). Insurance carrier needs justification to bump up coverage to what we think it should be (19,000?)......any ideas on how we can demonstrate fair market value? Are we in the ballpark? Hard to find used 03's to compare it to. Thanks for any advice!!

[AWCHIEF]

Welcome, check out Foremost. I had agreed value insurance on my Bambi II. No inspection was required.

[dugan]

I pay almost $700 yearly for my 2005 19' Bambi with Progressive insurance but I have an agreed value policy at $34,000 with a $2500 vanishing deductible. Including every little upgrade I paid less then half that amount when I bought it 2-years ago. Progressive did not even ask what I paid for it. You need to get an agreed value policy and 19K is not enough to buy one outside the family. If the insurance company needs justification, tell them to go to any web site that sells Airstreams.

[Nuvite-F]

We used to have Agreed Value coverage from Foremost on our 1980 Caravelle but agent told us they were discontinuing it.

We consulted FCIS Insurance http://www.fcisinsurance.com/ and they said Progressive could write us an Agreed Value policy, but we would need an appraisal. They provided us a list of appraisers and we got an appraisal at a cost of $200. Interestingly, the Progressive policy costs somewhat less than we were paying for our policy from Foremost.

Never had a claim on either policy so I can't comment on claim service.

[K3ors]

We have an 'O5 19' Bambi they wouldn't insure at our buying price. But they would insure for $10k more @ $25k. Guess they know the value!

[banderabob]

'08 Bambi insured for stated value of $27,000 (purchase price four years ago) with Germania, in Texas. Hope that helps.

[Len n Jeanne]

I'd recommend a more expensive insurance plan that would cover more than $5K if you can get it, as it would cost you a whole lot more to replace an 03 Bambi, were you to have some kind of accident with it.

People never think they'll get into an accident-- until it happens, often when it's somebody else's fault.

Ask me how I know.

I don't know if you can find this type of insurance in the US, but in Canada we can get insurance for a *new* replacement cost. This goes by your RV's new value in 2003. Yes, it's more expensive, but when Bambi I was in a non-repairable accident, it made a huge difference in our financial ability to buy Bambi II.

Also, AS dealers seem to have their own book prices on computer. You might ask your nearest AS dealer what your Bambi is worth as a trade-in, because it might be a different figure.

[starPK]

Such a wealth of information! Thank you for the varied responses, I am learning a lot. Yes, the cost of the minimal insurance is low, but as you are telling me, that won't help us a bit if there is a problem. Seeking special insurance seems to be the route, and getting the "actual" value of the Bambi seems do-able with either an airstream dealer, or an appraiser. Well done, AirForum!