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Old 09-03-2019, 10:49 AM   #1
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Turners Falls , Massachusetts
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MA insurance issues

Hi! I am trying to insure my 1976 airstream argosy in Massachusetts and my current insurance agent (via Commerce and my auto policy ) is saying that I need to list the original retail price. I called airstream and they do not have that info nor do they know why it would be important to the policy. Does anyone have any advice on this or have a better insurance group to go with that will cover the trailer and the work thatís going into it?? Thanks!!
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Old 09-03-2019, 11:00 AM   #2
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Here is some reading material. You are not the first to have this issue arise.


http://www.airforums.com/forums/f351...rp-98141.html#


http://www.airforums.com/forums/f349...-a-54684.html#
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Old 09-03-2019, 11:34 AM   #3
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Yes, they all seem to have the same problem I have.
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Old 09-03-2019, 11:52 AM   #4
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Whomever you spoke to at Airstream was somewhat in error. They may not have known what the specific dealer pricing was for your unit, but they do have the info regarding MSRP. It is at this URL:

https://www.airstream.com/wp-content...e-list-284.pdf

Ask your agent to get clarity about how the requested pricing information will be used by the carrier. In some instances it is used in conjunction with a depreciation schedule to arrive at current assessed value on older units (and, thus, the salvage value for totaling the unit) rather than what you actually paid. It may be used without depreciation as a max coverage value which is preferable on new units given paid is typically lower than MSRP. You are best served by obtaining a "declared value" policy which establishes an agreed upon value by both parties.

An agreed value policy may require assessment/valuation by an inspector.
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Old 09-03-2019, 11:59 AM   #5
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MA insurance issues

Quote:
Originally Posted by JSilverlight View Post
Yes, they all seem to have the same problem I have.

It isnít a problem, the original sales price can be/is irrelevant. Declared value is the way we went.
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Old 09-03-2019, 12:13 PM   #6
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Yes I agree with you all however I have called many insurance companies in MA and they do not offer agreed or stated policies on trailers. There has to be one out there.....
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Old 09-03-2019, 08:01 PM   #7
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You may have a problem trying to insure your trailer for purchase price PLUS the money you SPENT on the trailer. Just because you spent money on the trailer does not mean you added any value to the trailer.

The insurers responsibility to pay to you in the event of a total loss with a normal "Stated Value" policy is the retail value of the trailer on the date of loss plus any applicable sales tax depending upon your states laws. Many times it becomes the insured's problem to demonstrate the actual retail value on the date of lose with "Comps" of similar trailers for sale and other completed retail sales. If you SPENT $10K more on the trailer than the retail value of the trailer on the date of lose that's your problem not the insurers problem.

Finding and binding an "Agreed Value" policy may prove difficult especially if the improvements (Dollars Spent) you have made to the trailer were nothing more than maintenance items or stuff only you would like and highly value.
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Old 09-03-2019, 11:11 PM   #8
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Depreciation still a factor at time of loss, unless you were able to find a replacement policy, usually in the first five years on a new trailer.
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Old 09-03-2019, 11:52 PM   #9
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FWIW these "Agreed value" search results may lead someplace productive?

https://www.google.com/search?q=Agre...com&gws_rd=ssl

Good luck,

Peter

"Agreed value MA" -- https://www.google.com/search?q=Agre...=airforums.com

FYI/FWIW
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Old 09-04-2019, 09:45 AM   #10
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You might try your state insurance commissioner or whatever dept in your state regulates insurance. They may be able to advise you.


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Old 09-04-2019, 10:48 AM   #11
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2005 28' Classic
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Protecting my Airstream!

Hello everyone, any advice on storage covers? I have my Airstream parked on my property but itís not inside of garage ( no room) so I thought about purchasing a cover for it. I wanted to protect it from heat/sun and any hail.. Any suggestions? Best Regards Coco
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Old 09-04-2019, 11:18 AM   #12
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My trailer is insured by Progressive through FCIS at the appraised value. The Foles at FCIS can walk you through the process and you will need to have your trailer appraised.
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