Will they insurance total and take my RV?

[Onceagain33]

What is the name of your state?CO

i have a vintage motor home. For 5 years it has been insured for “agreed value”. It is a 1989 Honeywell, completely restored in 2017.
engine, transmission, etc, etc, all new in 2017. Basically it is a new motor home built on an 89 chassis

so, now the insurance company will only insure for the KB book value….$2,370. Honestly that is such a outrageously low number.
so, I spent the last couple days looking, and it seems noone is writing insurance “agreed value” any more. What I have learned, there seems to be a lot of people with vintage in the same boat.

so..my question is this….if I get into even a minor fender bender it will likely be more than $2,370 or repair. The insurance company will total it.

I need to know what happens to the motor home? Can I keep and repair it myself? Will they pay the $2,370 to me, and I take on dealing with it? Will they then have the DMV notified it is salvage?

what if I do not carry any coverage for the motor home itself…just all the rest (liability etc). Would the insurance company even get involved in the repairs? (Honestly, the house battery alone cost more than twice that $2,370…why bother). Would the insurance company still tell DMV it is totaled?

 

[Onceagain33]

one more question. If I have such a paltry amount of coverage, if the other party is responsible…would I be limited to the $2,370 coverage my own insurance would only offer? Could go after the responsible party for the true value?
as I have every receipt, I can prove the value….but would that even matter?

 

[Zigner]

You don't have to involve insurance if there is damage to your RV.

 

[Onceagain33]

Well..I guess I figure there is another vehicle involved…. Sure would hope it isnt my fault…but wouldnt the other drivers insurance contact mine? This is all that info exchanged at the scene by tradition

somehow I got the idea that if I don’t carry comprehensive, the other insurance doesn’t have to deal with that claim from me?? It that the other insurance would have the same limits that I have chosen?

 

[Zigner]

Well..I guess I figure there is another vehicle involved…. Sure would hope it isnt my fault…but wouldnt the other drivers insurance contact mine? This is all that info exchanged at the scene by tradition

If you are dealing with another party's insurance company, then you can present evidence that your RV is worth more than the published values. The best way to do this is to have an independent appraisal done (you should have one for a stated value policy anyway.) If you have a recent independent appraisal of the value of your RV prior to damage caused by another party, then you have a good basis for your claim for a higher value.

 

[Onceagain33]

There isn’t a way to get an appraisal that the insurance company will accept. Here is the deal…the RV dealers will not appraise if you didn’t buy it from them. The certified appraisel companies do not look at the RV…they do it by finding comps and pulling up the KB book or RV trader value. (I’ve spoken to two such certified appraisers in the last couple days). They never see the RV, nor do they look at or consider my mountain of receipts. There are NO COMPS on a fully restored Honeywell…or even a old broken down one.

after going around and around with the insurance company….they only accept appraisals from these certified companies or the dealer where it was bought. So…proving the value is rendered impossible because they will not look at it or look at the receipts for all the work. “Agreed Value” was just basically taking my word for it with the understanding I would produce all those receipt if called to do so. But, no one is writing those policies for motor homes any more.

if I had to place a claim with an insurance company and they deny because they don’t want to look at my proof…would I then have to sue the insurance or the other driver? Would that actually amount to the same thing? Trouble is…the value would throw this into civil court. Would a judge even look at my receipts?

Am I just stuck? If anything happens I lose the RV?

 

[adjusterjack]

if I get into even a minor fender bender it will likely be more than $2,370 or repair. The insurance company will total it.

I need to know what happens to the motor home? Can I keep and repair it myself? Will they pay the $2,370 to me, and I take on dealing with it?

No. If you keep it they will deduct the salvage value and pay you the balance.

Will they then have the DMV notified it is salvage?

Yes.

what if I do not carry any coverage for the motor home itself…just all the rest (liability etc). Would the insurance company even get involved in the repairs?

Your insurance company won't get involved in repairs. Only in defending you, or paying, if somebody makes a claim against you. If another driver is at fault you are own your own.

if the other party is responsible…would I be limited to the $2,370 coverage my own insurance would only offer? Could go after the responsible party for the true value?
as I have every receipt, I can prove the value….but would that even matter?

The at-fault driver's insurance will pay you the ACV. You might be able to squeeze a few hundred more based on your evidence but that insurance company is likely to dig in its heels and say no.

Well..I guess I figure there is another vehicle involved…. Sure would hope it isnt my fault…but wouldnt the other drivers insurance contact mine? This is all that info exchanged at the scene by tradition

If another driver is at fault it's up to you to make the claim.

somehow I got the idea that if I don’t carry comprehensive, the other insurance doesn’t have to deal with that claim from me?? It that the other insurance would have the same limits that I have chosen?

Wrong. Doesn't matter if you have collision coverage or not, you deal with the other driver's insurance.

“Agreed Value” was just basically taking my word for it with the understanding I would produce all those receipt if called to do so.

Not exactly. "Agreed Value" policies that I am familiar with simply pay the agreed value at the time of the loss if the repair costs exceed the agreed value. You don't have to justify the agreed value at the time of the claim, you generally have to justify the value when buying the coverage. I guess some companies would just take your word for it because they are getting the appropriate premium for the risk. Insuring your RV for $2300 might cost you $100 per year. Insuring it for $10,000 might cost you $1000 per year. The rate contemplates the loss.

if I had to place a claim with an insurance company and they deny because they don’t want to look at my proof…would I then have to sue the insurance or the other driver?

You sue the driver who damaged your vehicle, His insurance company will defend him on the amount of damages.


Now that I've covered all the bad news, there may be some light at the end of the tunnel.

Look into collector vehicle insurance. Those policies are written for "Agreed Value."

However, the underwriting requirements are strict.

1 - You must keep the vehicle in a fully enclosed garage or similar lockable building when not in use.

2 - Use of the vehicle is limited to exhibitions, club activities, parades, other functions of public interest, occasional pleasure use, and is not used for general transportation.

3 - Nobody under the age of 25 drives the vehicle.

In other words, you'll have to give up driving the RV around the country.

See if any of the following collector vehicle insurance companies will insure a "classic' RV.

J. C. Taylor
American Collectors Insurance
Hagerty
Grundy
Condon & Skelly

Several of the regular car insurance companies offer collector car insurance with "Agreed Value" with the same restrictions but you may have to have to have all your auto insurance with those companies.

State Farm
GEICO
Progressive

Might be others.

 

[Zigner]

There isn’t a way to get an appraisal that the insurance company will accept. Here is the deal…the RV dealers will not appraise if you didn’t buy it from them. The certified appraisel companies do not look at the RV…they do it by finding comps and pulling up the KB book or RV trader value. (I’ve spoken to two such certified appraisers in the last couple days). They never see the RV, nor do they look at or consider my mountain of receipts. There are NO COMPS on a fully restored Honeywell…or even a old broken down one.

There are companies that do appraisals by sending out professional appraisers. I found one one the first page of my web search and I'm sure I could have found more, but I only allotted 17 seconds to the search.

if I had to place a claim with an insurance company and they deny because they don’t want to look at my proof…would I then have to sue the insurance or the other driver?

Did the other guy cause the damage, or did the other guy's insurance company cause the damage? The other guy did, of course, so you would sue the other guy and not his insurance company.

Would that actually amount to the same thing?

The other guy's insurance company will (may) provide the legal defense for him, but that's not the same as suing the insurance company.

Trouble is…the value would throw this into civil court. Would a judge even look at my receipts?

A judge (or jury, if it came to that) would look at your evidence for the value of your vehicle.

Am I just stuck? If anything happens I lose the RV?

You seem to be trying your best to find a way to make certain that's the outcome...

 

[AlmostThere]

If OP cannot find a way to insure the RV at a value acceptable to him, and he owns the vehicle outright, he may just want to drop collision altogether and save the premiums towards repairs. If he has a $500 deductible and a $2370 agreed value, then his own collision coverage maxes out at $1870 if he totals the vehicle in an accident deemed his fault.

 

[Onceagain33]

Oh…please give me what your found….

I have already talked with RV Pricing and appraisals. They offer a certified inspection…but again..it is only comps and KB. RV appraisals and investigation does do onsite appraisals… but not the certified the insurance company insist on.
I spoke with the underwriters for both National General and Progressive…they will only accept that certified appraisa.
didn’t see another.
did you find another?

meanwhile, I think I will get an appraisal just to have in my file in case. (Uncertified).

 

[Onceagain33]

its Been over 40 years since I was in an accident found to be my fault. Given how little the rig is driven, probably risk that someone else would be at fault.

zigner….why would you think I would want to lose this rig? Everything I am trying to do is figure out how to be best protected in the event of an accident.

it sounds to me that the best option is the eliminate the comprehensive and thus the $500 deductible plus the premium reduction. Then make very sure I am not at fault.

and looking keep looking answers

 

[doucar]

Did you mean collision rather than comprehensive?
Did you try the historical companies Jack recommended.

 

[Zigner]

Oh…please give me what your found….

I have already talked with RV Pricing and appraisals. They offer a certified inspection…but again..it is only comps and KB. RV appraisals and investigation does do onsite appraisals… but not the certified the insurance company insist on.

If you end up in court, then whether or not the insurance company "accepts" the appraisal is irrelevant. The COURT is the one who would be making the decision.

 

[Onceagain33]

Yeah, that’s why I figure to have it in my file.

I will try JC Taylor and Condon & Shelly. I have already talked to all the rest, and more. Thanks for the lead!

 

[Zigner]

I would like to point out that a "stated value" policy won't make any difference to another party's insurance carrier. You will STILL need to prove the value of your vehicle.