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Bessie1968 · 05-07-2013, 09:49 AM

Hi all,
Can anyone tell me how to properly insure my vintage Airstream? My 1968 Airstream is basically original and in excellent condition... repaired bathroom floor, new carpet/curtains/upholstery (of course), replaced fridge (Dometic gave up the ghost), excellent exterior condition except it needs polishing... It has been in my family since I was six (now I'm in my 40's) so there have been only the most limited modifications.

I am looking at Airstreams of similar condition going for anywhere from $14k - $25k due to size (desirable 22') and condition (we didn't rip out cabinets or update the era), but my insurance company (State Farm) designated its value at $10k because the value is so subjective. Does anyone know where I can get an accurate replacement value insurance plan? If, god forbid, anything happened to the old girl, $10k in this market would get me a really crappy 70's laminate fixer upper in the 29' range (much too big to camp in where we like to go). I'm in CA, FYI.

Thank you so much for the advice!

ttbikes · 05-07-2013, 10:28 AM

I called my insurance agent and told her I bought my 64 Tradewind for this price and insured it for that amount of insurance. After I had done some restoration I called back and said I now thought it should be valued at a new price. She had no problems with this but asked that I keep her updated with pictures as I continued with restorations. No inspection nessary. Of course I will not know if really was the right way to go about it unless I have a claim.

rumrunner · 05-07-2013, 01:37 PM

Contact Jim and Lynda Polk, Silverpal here on the forums. They have a highly respected business based on insurance values for vintage Airstreams and other vehicles. Jim gave a very informative presentation at the vintage restoration academy in albuquerque this week. Good people.
shoot them a PM, you will be very happy you did.
tim

Bessie1968 · 05-07-2013, 01:50 PM

Thanks for this, but my problem is that this was purchased last by my dad in 1976 for $4000, therefore I have no recent relevant sale price. I was thinking maybe people who specialize in classic car insurance might insure trailers?

Bessie1968 · 05-07-2013, 02:53 PM

Thank you!

Protagonist · 05-07-2013, 03:56 PM

Quote:

Originally Posted by Bessie1968

Thanks for this, but my problem is that this was purchased last by my dad in 1976 for $4000, therefore I have no recent relevant sale price. I was thinking maybe people who specialize in classic car insurance might insure trailers?

Many insurance agencies offer specialized RV insurance, for either motorhomes or trailers. Progressive and GMAC are two that I personally know of. You can get "agreed value" coverage based on whatever you and the agent can agree upon; it needn't be the purchase price. The agreed value could be the cost of the restoration— probably as long as it doesn't exceed the price of a brand-new unit of the same size. I doubt they'd insure a fixer-upper for more than they'd insure a new unit.

And if you don't belong to Good Sam, you might want to join, just for the insurance break. When I insured my new Interstate, I got quotes both with and without a Good Sam discount, from the same insurance company. Just spending $24 per year to join Good Sam (maybe it costs more now, I'm not sure) saved me way more than that on the insurance, so if I never use any other perk of the membership, it has more than paid for itself.

KenSanLan · 05-07-2013, 04:00 PM

Our vintage Airstream is covered by an agreed value policy. We had to provide an appraisal, and got very reasonable rates and a fair value. Our auto insurance company would have covered it for three times the price, though. We were told they consider all travel trailers to be in the same category as motorhomes - wanted us to list drivers.

pdurkin7 · 05-20-2013, 09:37 AM

Just FYI, I just insured my 1978 Argosy Minuet 6.7 meter with Allied (Nationwide) thru an agent of Farm and City Insurance, 800-331-1520. They required an appraisal for an agreed upon value insurance policy. I used Tim Curran, 954-732-6241, as my appraiser. His cost was $150 plus $75 for travel to my house. The appraisal value came out as $14,500 and the yearly premium is $600. This is a full timers policy.

SilverPal · 12-04-2013, 10:27 AM

Tim, thanks for the shout out! Yes, Polk Associates is an American Society of Appraisers certified corporation. Our appraisals are accepted by fiduciary institutions, insurance companies and the IRS. We have completed hundreds of Airstream appraisals and would be most happy to help out. Bessie1968, give us a call and let's see if we can assist you in any way. - Lynda 805.646.7293

ALANSD · 12-04-2013, 11:02 AM

I supplied State Farm with advertised prices for many Airstreams ( like 15) similar to the one I was insuring. That established the replacement value for me.

**Stefrobrts** · 12-04-2013, 11:35 AM

My State Farm agent wouldn't write an agreed value policy, and said the value oft he trailer would be determined when it was necessary to make a claim. I wasn't comfortable with that, so we went through AAA and got an agreed value policy from Progressive. We had a local estate appraiser write up an appraisal, and they accepted it. That was about 5 years ago when we finished the major restoration work. I think it's value has increased, and I have been thinking of having it re-appraised so it is insured for an amount that would allow us to find another Caravel in the same condition if anything happened to it.

crabbey1 · 12-04-2013, 02:16 PM

Oddly enough, I originally insured the argosy for the purchase price through Progressive. After I finished the restorations, I called back and insured it for what I thought was a reasonable figure. They did not require an appraisal or any documents at that time. They did however ask me to keep any receipts and to photograph everything.

funkill · 12-04-2013, 03:38 PM

Quote:

Originally Posted by crabbey1

Oddly enough, I originally insured the argosy for the purchase price through Progressive. After I finished the restorations, I called back and insured it for what I thought was a reasonable figure. They did not require an appraisal or any documents at that time. They did however ask me to keep any receipts and to photograph everything.

I just called to change my address with Progressive and was told that they will no longer be offering Agreed Value policies. When mine current policy expires in January, (I was told that) it will be modified to be a replacement value type policy. WTF?

Laura

clicknathan · 05-01-2014, 03:06 PM

Funkill, I just got off the phone with Progressive and I do have an agreed upon value for my vintage 76 AS for $8000. They specifically stated a few things:

1. That number means nothing. The actual value would be based on "current market value". I could easily see an AS being compared to a 40 year old white box and getting about $10 for it.
2. They stated getting an appraisal from an RV dealership or repair place, on letterhead and official looking.
3. They then stated that if my appraisal is greater than the current agreed value, I'll need to send that paperwork in to prove it. They made it seem like that would be the value we then went with in the event of a major disaster that totaled the AS.
4. Finally, they stated they knew nothing of agreed value going away on Progressive insurance plans.

I've got the "full-timer" package which also entitles me to coverage in Mexico, $1000 to pay any fire department bills that may be incurred, $7500 that can be used for a hotel room, etc. if we can no longer live in the AS, and an additional $5000 replacement cost.

So, after speaking with them, I'd recommend Progressive in a minute. That said, I've never had a claim with them so don't know what would happen in reality.

funkill · 05-02-2014, 08:22 AM

Quote:

Originally Posted by clicknathan

Funkill, I just got off the phone with Progressive and I do have an agreed upon value for my vintage 76 AS for $8000. They specifically stated a few things:

1. That number means nothing. The actual value would be based on "current market value". I could easily see an AS being compared to a 40 year old white box and getting about $10 for it.
2. They stated getting an appraisal from an RV dealership or repair place, on letterhead and official looking.
3. They then stated that if my appraisal is greater than the current agreed value, I'll need to send that paperwork in to prove it. They made it seem like that would be the value we then went with in the event of a major disaster that totaled the AS.
4. Finally, they stated they knew nothing of agreed value going away on Progressive insurance plans.

I've got the "full-timer" package which also entitles me to coverage in Mexico, $1000 to pay any fire department bills that may be incurred, $7500 that can be used for a hotel room, etc. if we can no longer live in the AS, and an additional $5000 replacement cost.

So, after speaking with them, I'd recommend Progressive in a minute. That said, I've never had a claim with them so don't know what would happen in reality.

I should have responded back with my update as well. What I later found is that when I moved to NV, they inadvertently changed my policy to "replacement value" and I never noticed. Then when I moved to MD, they couldn't add the "agreed value". After some negotiations, they finally agreed to reinstate my NV policy as Agreed Value and then 30 days later I changed to a MD policy with the same Agreed Value ($10K). They agreed to do this since I had all my original paperwork, including faxes, showing that I always intended to have the agreed value and because I never missed an installment or let the policy lapse.

I did make a claim when I was in FL (under Agreed Value) and they promptly provided me a check for repairs on the spot. I don't remember the total off hand but think it was in the range of $3K. My premium did not increase afterward nor did they suggest I'd be dropped!!!

Hope the positive service with Progressive continues.

Laura

clicknathan · 06-12-2014, 03:34 PM

Not sure if anyone is keeping up with this post but I retract my "I'd recommend Progressive in a minute" statement. I recently had a claim and they refused to pay for frame damage caused by smashing the backend off of a speed hump in Boulder, CO, stating that it can't be proven that the damage was not from wear and tear. I've had two Les Schwabs who did brake & tire work for us recently confirm they saw no damage and another frame shop state that the frame was bent upward, and though they can't confirm that it is from impact or not, why would "wear and tear" result in an upward bend and not just sagging?

Complete details here if anyone's interested in reading the minutiae: Negative Review of Progressive RV Insurance and "Full-timers Package"

Totoro · 06-12-2014, 03:38 PM

We were able to get an agreed value policy through Nationwide for our 79.

Forrest · 06-18-2014, 12:05 PM

I got an insurance quote via FCIS. I thought they were an insurance company (and maybe they are), but the agent stated the only company that would insure me for agreed value was Progressive because I do not store my Airstream inside an enclosed structure or garage. Instead, it is stored outdoors, but inside a fenced and locked RV storage lot.

So, if I want agreed value it appears the only company available is Progressive. Their premium would be $497/yr. which is three times the premium for actual cash value coverage I have through Hartford. I'm hesitating going with Progressive because I'm not sure if they are reliable and I'm confused that the quote came via FCIS.

Jewel65 · 06-24-2014, 01:26 PM

You might try Blue Sky. I am looking at them now. Their rates seem reasonable and I just got a quote over the phone. They didn't ask me if mine was garaged, at least not yet for the quote. I now have to get an appraisal. I'll report back what I find out.

clicknathan · 08-06-2014, 02:24 PM

Blue Sky will only insure newer Airstreams, FYI. A friend of mine has them and after their trailer went rolling down a hill (my friend's fault apparently, and admittedly), they took care of everything and paid out a ton to get everything fixed.

I currently have Good Sam and they did agree the same "agreed upon value" as Progressive. I still need to get an official appraisal but was told by Good Sam that we were all set with the agreed value.

I've learned the hard way though that "was told by" doesn't mean much...