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Old 01-24-2020, 06:26 PM   #41
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Agreed value based on a predetermined value established when the policy is written, the predetermined value will be used to set the premium.

Agreed value policies are used frequently for vintage trailers and Motorhomes but are becoming more popular in the age range up to about 2014. The agreed value will remain the same as long as the policy is in effect or a new agreed value is established. The predetermined agreed value will be listed in the policy and will be paid if the trailer is totaled.
Jim, is "agreed value" the correct term to use with any/all insurance companies? And with agreed value, is there still depreciation applied in coming years?

My 67 Caravel is being completely restored: shell-off, frame repaired, subfloor replaced, wiring & plumbing replaced, etc. etc. I plan to ask for insurance for the cost of purchase from the original owner, plus all of the bills for restoration. Is that reasonable?

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Old 01-27-2020, 09:15 AM   #42
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Vivian
Yes agreed value is the correct term, it will be listed in the policy and as long as the policy stays in effect it will not depreciate. Vintage Airstreams are increasing in value , the agreed value should be updated periodically say every three years
Jim
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Old 01-27-2020, 02:05 PM   #43
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Vivian
Yes agreed value is the correct term, it will be listed in the policy and as long as the policy stays in effect it will not depreciate. Vintage Airstreams are increasing in value , the agreed value should be updated periodically say every three years
Jim
would Insurance co agree at the actual cost of a vintage camper? I have seen a 1967 16' Bambi Sport at $40,000. how much would insurance most likely cover this camper?
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Old 01-28-2020, 09:48 PM   #44
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Vivian
Yes agreed value is the correct term, it will be listed in the policy and as long as the policy stays in effect it will not depreciate. Vintage Airstreams are increasing in value , the agreed value should be updated periodically say every three years
Jim
What do I use to show the insurance co. that the value is increasing (vintage) rather than decreasing (new purchase) to justify the updated value every three years?
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Old 01-28-2020, 09:51 PM   #45
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would Insurance co agree at the actual cost of a vintage camper? I have seen a 1967 16' Bambi Sport at $40,000. how much would insurance most likely cover this camper?
I think I saw that ad; I figured it must have been gold-plated inside and out.
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Old 01-29-2020, 03:54 AM   #46
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MAKE SURE when you call USAA that you want to insure with them, not Progressive.
Are you sure you're with USAA and not Progressive for the Airstream? I have USAA for all my autos, but for any type of recreational vehicle in Texas they use Progressive. For my motorcycles I found the USAA/Progressive deal less than ideal, and use Dairyland. I just switched from USAA/Progressive on my Airstream to GoodSam (National General) and while the rates were within a few dollars of each other, the coverage was better with National General.

Thing is, insurance is so state specific that when somebody says I only pay 'x', you have to look at where they are located because the insurance laws of each state vary wildly, and so does coverage and rates. I took a job in Toronto in 97, and for the first 3 months, I kept my US plates and USAA put me in some international coverage group. My insurance dropped to nearly a quarter what it had been in Texas prior to that. Of course I couldn't keep my US plates forever and when it came time to get Ontario plates I had to get Canadian insurance... holy cow. You think we have it bad! Just ask our northern friends what they pay for vehicle insurance.
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Old 01-29-2020, 11:15 AM   #47
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Super Thankful for this thread

The part about only being covered while being towed made me very suspicious. I would of thought Comprehensive did not require the "Being Towed" part of the the above threads.

So I went to read my policy in detail.

The Stated value at the time of taking out my policy was $55,000.........when I got into the details of my policy, I saw they had keyed it in as 55 hundred not 55 thousand.

Wow, What a shock!

Glad this thread made me go look and get it straight.
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Old 01-30-2020, 09:35 AM   #48
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Insurance companies will provide agreed value policies based on the value of a trailer, not based on cost but the current value. Companies that write agreed value policies are FCIS and Overland, also the Miller Agency. These companies typically use Progressive, Nationwide and American General as underwriters. Establishing a current value is the key to getting an agreed value policy, The current value can be established by a qualified appraisal firm
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Old 01-31-2020, 01:53 PM   #49
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We got our agreed by calling USAA and they sent us to progressive.
Had the regular insurance with USAA
anyways.
in KY a $28,000 agreed value policy was approx $630 a year

"would Insurance co agree at the actual cost of a vintage camper? I have seen a 1967 16' Bambi Sport at $40,000. how much would insurance most likely cover this camper?"

I asked about appox $40,000 so I would know for the future and they said somewhere arount $1000

About the question about proof. They did not bat an eye or ask for anything about the camper for the $28,000 agreed value. Small beans compared to $100,000 campers.
But, you better believe that you will need proof if you make the claim.
That is where you need to have the appraisal in hand. Such as Polk.
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Old 04-11-2020, 08:57 AM   #50
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I just saw this new thread on insurance with many of the same questions we were challenged with three or so years ago. Insurance for an RV is tricky. Here is some of my post from an earlier thread. I spent days on the insurance issue and even cancelled a few policies after receiving the documents and finding that it was misrepresented by the agents.

from older post:

"agreed cash value policy" be careful with that one. The wording is a mix of the two and, that is exactly what I was told when I got the one policy that I canceled as soon as I got the documents. I went round and round with a call-back customer service representative who said "we mean that the cash value is an agreed market value as published by the NADA- National General. That is what we would use to value your trailer at the time of accident." Seriously. Agreed value versus Actual Cash Value. The question to ask is if my trailer is totaled, how will the value be determined? I tell you that MOST companies answered my question with a sentence including NADA. Naturally if your Airstream is almost new and on a replacement policy that answer is different but ask the question with age markers, in five years, in seven years, etc. My first policy was with Met Life who bundled it onto my auto policy for $104 a year BUT it was NADA based valuation which dwindles to nothing in a few years.

Those of you that have trailers that are five years old or less, you have some leeway. If you get a replacement policy at first, it usually is good to replace your trailer for up to so long- some 3 yrs some 5 years but many companies require you to start with that policy. Once you have a trailer that is older than five years, you get a value policy. If you hear the word NADA or it is part of your tow vehicle insurance beware. It is NADA valued and RVs devalue so fast you cannot believe it in NADA. In 3-4 years or so, Airstreams are about 1/2 their cost which we know isnt true when you try to buy a used one. I strongly suggest, like others, to get an agreed value policy. That means that it is written on the policy what they will give you rather than an ever-devalued amount from NADA. It is cheaper to add it to your tow vehicle policy but understand that the policy devalues the trailer fast.

My agreed value policy covers hitting animals, falling objects, vandalism, theft, fire, hail, windstorm, flood and accidents up to the value of the agreed amount on the policy. (the agreed amount is your receipt or appraisal amount) NOT a devalued ambiguous figure. SilverPal's 3 types of insurance for trailers is DEAD ON correct. That is it and #3 is the best after full replacement newbie coverage. Anything else is zeroing out in time.
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Old 04-11-2020, 09:16 AM   #51
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I just saw this new thread on insurance with many of the same questions we were challenged with three or so years ago. Insurance for an RV is tricky. Here is some of my post from an earlier thread. I spent days on the insurance issue and even cancelled a few policies after receiving the documents and finding that it was misrepresented by the agents.

from older post:

"agreed cash value policy" be careful with that one. The wording is a mix of the two and, that is exactly what I was told when I got the one policy that I canceled as soon as I got the documents. I went round and round with a call-back customer service representative who said "we mean that the cash value is an agreed market value as published by the NADA- National General. That is what we would use to value your trailer at the time of accident." Seriously. Agreed value versus Actual Cash Value. The question to ask is if my trailer is totaled, how will the value be determined? I tell you that MOST companies answered my question with a sentence including NADA. Naturally if your Airstream is almost new and on a replacement policy that answer is different but ask the question with age markers, in five years, in seven years, etc. My first policy was with Met Life who bundled it onto my auto policy for $104 a year BUT it was NADA based valuation which dwindles to nothing in a few years.

Those of you that have trailers that are five years old or less, you have some leeway. If you get a replacement policy at first, it usually is good to replace your trailer for up to so long- some 3 yrs some 5 years but many companies require you to start with that policy. Once you have a trailer that is older than five years, you get a value policy. If you hear the word NADA or it is part of your tow vehicle insurance beware. It is NADA valued and RVs devalue so fast you cannot believe it in NADA. In 3-4 years or so, Airstreams are about 1/2 their cost which we know isnt true when you try to buy a used one. I strongly suggest, like others, to get an agreed value policy. That means that it is written on the policy what they will give you rather than an ever-devalued amount from NADA. It is cheaper to add it to your tow vehicle policy but understand that the policy devalues the trailer fast.

My agreed value policy covers hitting animals, falling objects, vandalism, theft, fire, hail, windstorm, flood and accidents up to the value of the agreed amount on the policy. (the agreed amount is your receipt or appraisal amount) NOT a devalued ambiguous figure. SilverPal's 3 types of insurance for trailers is DEAD ON correct. That is it and #3 is the best after full replacement newbie coverage. Anything else is zeroing out in time.
I have a brand new FC insured via Miller.

I insured for what I paid for it but got a call yesterday that they are raising the rate as full value replacement includes tax and license. Didn't seem to want to give me an option. Bumped up the premium $70 a year....

I suppose lien holder only wants what they have into back and no obligation on my part to pay more than that. I know insurance companies want to make sure we're covered AND maximize their income as well.....

Any advice on full coverage policies that could save me a few $$$?

Thanks!
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Old 04-11-2020, 12:58 PM   #52
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"would Insurance co agree at the actual cost of a vintage camper? I have seen a 1967 16' Bambi Sport at $40,000. how much would insurance most likely cover this camper?"
Yes, that is a perfect example for a need for agreed value policy. If someone owns a 65 Mustang, a 67 Airstream, etc, the value is case by case and an appraisal will indicate its value. That becomes a static value point for insurance. I believe insurance is based on a dollar value factor. My guess is about $700 for a $40K trailer per year full coverage.
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Old 04-12-2020, 07:25 AM   #53
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My insurance policy with progressive has dollar amount of agreed value as appraised value w/pics.
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Old 04-12-2020, 08:12 AM   #54
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My progressive policy is agreed value with resto costs included. Probably not resale or replacement but itís what I asked for. Will need to renegotiate next yr. as it was agreed for 5 yrs. my how time flies! Ď99 safari with 3 panels replaced, interior redone with new flooring, countertops and front interior fromí15 classic ultra leather and large deep bowl sink baraldi hood and new stove. Redone bath with new commode and countertop glass sink and spigot faucet.
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Old 04-12-2020, 08:15 AM   #55
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Old 04-12-2020, 09:42 AM   #56
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Should have said Asian sand Formica and cashew ultrleather. Donít know how to post pics.
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Old 04-12-2020, 09:49 AM   #57
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MAKE SURE when you call USAA that you want to insure with them, not Progressive.

USAA - 85.00 for 6 months including road service etc. 500 deductible.

Progressive wanted $650 for 6 months.

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Are you certain that USAA will DIRECTLY insure a travel trailer? I don't think they do or will. That's why USAA has set-up a formal relationship with Progressive with a dedicated support unit that only works with USAA clients. You get treated under USAA quality standard, but the actual insure is Progressive.
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Old 04-12-2020, 10:23 AM   #58
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USAA picked up my trailer directly. $220 annually. Told that if I go full time, they will transfer the coverage to another company.
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Old 04-13-2020, 03:15 PM   #59
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USAA picked up my trailer directly. $220 annually. Told that if I go full time, they will transfer the coverage to another company.
Highly doubt it. Possibly you were transferred and it wasn't obvious.
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Old 04-13-2020, 05:55 PM   #60
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Think Iíll call and see but I think something is not right with your insurance you think u have with usaa. Probably no real replacement money in that 200 dollar quote
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