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Old 08-29-2020, 05:17 PM   #1
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1955 26' Cruiser/Overlander
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How do I get Replacement value coverage for vintage Airstream

I am the new owner of a '55 Overlander 26ft. We are beginning a frame-off restoration. I need to obtain replacement value insurance for now - and during the renovation as the value increases. I talked with USAA then Progressive and they are dumbfounded. Please help! (I'm in Georgia). All help appreciated. Thanks. Nelson
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Old 08-29-2020, 05:40 PM   #2
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I think it's called "agreed value" coverage. Probably a good place to look would be companies that insure yachts.
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Old 08-29-2020, 05:45 PM   #3
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Try Safeco. I got a policy through them but I waited until I was about 80% done with the renovation. I had to provide an appraisal as documentation. I used James Polk for the appraisal.

Just to clarify terms. You will not get a 'replacement cost' valuation. It will be the current market value. If you expect to insure for what you have in it, you'll probably be disappointed, especially your labor.
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Old 08-29-2020, 06:23 PM   #4
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I worked with Farm and City Insurance https://www.fcisinsurance.com/ to get my previous vintage and current Airstream insured. They worked with me to get the appraisal needed to get an agreed value policy
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Old 08-29-2020, 07:24 PM   #5
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I second the referral to Farm and City in Forest City, Iowa. They underwrite for Allied Ins if my memory serves me well (it often doesn't). I had my bill of sale, my receipts for the stuff I purchased (tires, axles, fridge, welding, water heater, etc, etc.), and then they arranged a local appraiser to review documents and inspect the trailer. They agreed with my amount and wrote the policy for me.

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Old 08-30-2020, 10:58 AM   #6
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Agreed value coverage

You will need an appraisal from a valid classic trailer appraiser. That may involve s bit of sleuthing. Research your area for a vintage trailer restorer and ask them. One resource might be the website for Vintage Camper Trailers, a magazine to that interest group. vintagecampertrailers.com. I successfully acquired coverage from Progressive at an agreed value of $20k with an appraisal from Harp's RV Service in Lincoln, CA. We have a restored 1954 Traveleze, 21 ft. with all original appliances working beautifully. It's worth more than $20 k but the appraiser suggested assigning a conservative value to enhance the chances of the agreed value coverage. There really are no comps with vintage travel trailers because they are typically different and often in very different states of condition.
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Old 08-30-2020, 11:34 AM   #7
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Jim Polk did mine. It takes about 2 weeks to get it in writing, but Progtressive said they did not even want a copy of Jim's appraisal. There are other companies that know of his work reliability as well.
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Old 08-30-2020, 11:47 AM   #8
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I had no problem getting ins for ant spent in agreed value from progressive they said just keep receipts. If you want a higher value you will need a reputable appraisal company to perform after you are done. Expect to pay for it Wont be cheap
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Old 08-30-2020, 02:35 PM   #9
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Back in 2012 when we got our 1960 Avion T20 we were recommended to Progressive & Jim Polk, but we found out that Progressive had stopped doing any new Agreed Value Trailer Insurance Policies.

I guess Flo & Jaimie were too busy doing incessant TV commercials, to do the vintage trailers!

Has this changed back & is Progressive now doing AV vintage trailer policies again?

Does anyone know, or are the folks above just going by their AV insurance from Progressive being grandfathered in?

Oddly enough - the classic car insurers will do AG for classic boats with trailers - but not for vintage travel trailers - including Hagerty, Grundy, etc.

Cheers!
Tom
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Old 08-30-2020, 05:45 PM   #10
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I also have "agreed upon value" for my 1961 A/S Bambi. Mine is through Progressive. It was not easy to find and not all marketplaces have it. Do your research as many companies will say they have it as a bait and switch. You will get a lesser coverage, not what it is worth.
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Old 08-30-2020, 05:49 PM   #11
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Quote:
Originally Posted by Tom_T View Post
Back in 2012 when we got our 1960 Avion T20 we were recommended to Progressive & Jim Polk, but we found out that Progressive had stopped doing any new Agreed Value Trailer Insurance Policies.

I guess Flo & Jaimie were too busy doing incessant TV commercials, to do the vintage trailers!

Has this changed back & is Progressive now doing AV vintage trailer policies again?

Does anyone know, or are the folks above just going by their AV insurance from Progressive being grandfathered in?

Oddly enough - the classic car insurers will do AG for classic boats with trailers - but not for vintage travel trailers - including Hagerty, Grundy, etc.

Cheers!
Tom
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My policy through Farm and City is agreed value with Progessive and my coverage started in 2018.
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Old 08-31-2020, 11:49 AM   #12
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Okay, Thanx Richard & labellafiore - I'll recheck with Progressive directly - which is where I checked originally, since we don't have Farm & City here in CA, or in SoCal anyway. It could be a state by state thing.

Did you two folks happen to notice that you're both from towns called Dewey - in AZ & IL respectively!? What a Quinky-dink!

Sorry for the OT diversion, but that was just too odd to pass up.

Since 2012 I have had effectively a Stated Value policy through AAA on both the Avion & Puck, but that really works as more of a "stop loss" for AAA, & they still go by current market value, then you argue with them to get up to that value, from what I understand. AAA doesn't call it stated value, but something else.

I do need to get Jim Polk to do an updated appraisal on them both & our 3 Classic Cars, but have some work to finish up on them all first.



For the OP nelson3 - you might try Progressive & AAA just using what you paid for the yet to be restored `55 Overlander (using your payment invoice, DMV tax receipt, etc.), & then see if they'll add a Rider for the value of the parts/supplies & work/labor on either your Auto or Home policy as you go along with the resto work.

For a classic car/truck or boat+trailer resto, Hagerty & some of the other classic/antique car insurers do have a specific restoration project policy to cover the vehicle + parts + work/labor that you can update as you go along, & I think that you can just update your policy coverage amount online yourself as you go along - of course paying a higher premium.

However, many of the classic car insurers including Hagerty will limit your use of the vehicles to car shows & events only, with only a few allowing a stated mileage per year allowed (priced by miles blocks/stages).

Ergo, Hagerty won't insure most VW Westfalia Campers & other Classic/Vintage RVs & Camper Vans if they are used for camping, daily driving, etc. - but the Vintage Trailer Rallies bring up the question if they are really a vintage/classic vehicles event, since most have a public show over the weekend.

Unfortunately, the classic car/truck insurers haven't yet caught onto the growing vintage trailer/RV collector trend yet, to want to insure them.

But then it takes them years to catch onto adding collector vehicles too, such as the VW 1980-92 Vanagon Westfalia line - which are low production eligible & have been collectable for 20+ years, but Hagerty only started insuring them with the above restrictions within the last +/-5 years!

Another issue is what you have to pay during long periods of non-use of your trailer(s), which can be a lot of sitting at home time if you have multiple trailers - so it's worth checking on whether you can get a lower premium for months of disuse sitting in storage or at home. I know Good Sam offers that for regular trailers, but they don't do Agreed Value for vintage trailers as far as I know.

AAA will not reduce our trailer premium - neither for the 15 months that our Avion sat at home 2018-19 while we took our "new to us" Puck around to all the vintage trailer & car shows/events, nor are they willing to refund partial premiums during the extended non-use during the current 2020 COVID pandemic (despite a CA order for insurers to do so on all vehicles).

I bring these aspects the OP nelson3's attention, assuming that they'll be using their vintage `55 AS for vintage trailer rallies & events too (in addition to any other use).

Cheers!
Tom
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