nccamper
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1962 Forester- 1956 Shasta
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Post by nccamper on May 15, 2017 14:44:52 GMT -8
I just received "agreed value" insurance from FCIS on our recently finished 1962 Forester. I used one of the agent's recommended appraiser: Pinnacle www.autoappraisers.comcontact@autoappraisers.com (877) 988-9911 $225 It took them only two days to get the appraisal to me. The agency recommended by a member here: FCIS Insurance INFO@FCISINSURANCE.COM 800-331-1520 Agreed upon value based on the appraisal--not book value which after 55 years is around $12. $260 a year. Comp, collision, hotel reimbursement if we're away from home, towing, $500 deductible. Liability is always covered by the tow vehicle.
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1965gtfb
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1962 Shasta Astroflyte
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Post by 1965gtfb on May 19, 2017 11:25:57 GMT -8
What is the value you used? Just wondering for the purpose of doing the math to roughly figure the cost of insurance per $1,000 of value. Thanks
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nccamper
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Post by nccamper on May 19, 2017 15:12:00 GMT -8
It worked out to be $18.30 per $1000 in coverage.
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annak
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Post by annak on Jun 5, 2017 13:37:41 GMT -8
Did you insure the trailer for a certain amount like 15K?
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nccamper
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Post by nccamper on Jun 5, 2017 14:08:45 GMT -8
Did you insure the trailer for a certain amount like 15K? The appraised value: $14,200 Progressive was the only one I found willing to do appraised value without a requirement to park it indoors. I'm sure there are others.
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annak
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Post by annak on Jun 5, 2017 14:42:38 GMT -8
So your insurance did the appraisal?
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chametzoo
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Post by chametzoo on Jun 5, 2017 16:31:29 GMT -8
I just received "agreed value" insurance from FCIS on our recently finished 1962 Forester. I used one of the agent's recommended appraiser: Pinnacle www.autoappraisers.comcontact@autoappraisers.com (877) 988-9911 $225 It took them only two days to get the appraisal to me. The agency recommended by a member here: FCIS Insurance INFO@FCISINSURANCE.COM 800-331-1520 Agreed upon value based on the appraisal--not book value which after 55 years is around $12. $260 a year. Comp, collision, hotel reimbursement if we're away from home, towing, $500 deductible. Liability is always covered by the tow vehicle. Congratulations, you found the magic formula: FCIS and Progressive. That's the way I went. I used a different appraiser though, Jim Polk. I think my trailer was undervalued, so I'll probably do another one in the near future with a different person. Also, restored vintage trailer values are going up, up, up! Re-appraise your trailers every few years.
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MarthaS
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Post by MarthaS on Aug 9, 2018 3:36:35 GMT -8
Just bumping this up to thank you nccamper for this post. We followed exactly what you did and went with Pinnacle for the appraisal and FCIS for the insurance through Progressive.
Pinnacle wanted lots of photos before during and after renovation and once we received the appraisal (two days) it only took a couple of hours to get an Agreed Value policy. Our trailer was appraised at $22,800 and the policy cost $402/year. We're so pleased with both groups and how easy the process was.
Thanks again for sharing your knowledge and experience. We wouldn't have known where to start otherwise.
Martha
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kudzu
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Post by kudzu on Aug 9, 2018 4:42:16 GMT -8
Here is something to look into. In the antique auto area there are a lot of Agreed Value policies that are not what they appear to be on the surface. Say you insure the car for $1,000 and there is a total loss so you expect to get $1,000. But truth is they will look at the car and if for whatever reason they determine that is now only worth $500 that is what they will pay you, not the $1,000 you expect. Even though you have been paying rates based on the $1,000 value. I would suggest you read your policy carefully and ask some questions to make sure what you have. I am not saying this what they are doing but it is common in the Antique Auto policies and after a bad experience I am very suspicious. The only policy I am aware of that pays out the full amount without question is an Inland Marine Policy. This is the similar to what is written on Ships. If they sink they pay out the amount of the policy. This could be what they are writing, obviously I don't know, but it is virtually impossible to find Inland Marine policies from the major carriers on cars.
Editing this, found a good explanation of the difference. Wish I had known this years ago! It is about cars but should apply to campers. www.lelandwest.com/stated-value-vs-agreed-value-classic-car-insurance.cfm
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Post by danrhodes on Aug 9, 2018 5:37:34 GMT -8
Those are some pretty aggressive appraisals. I love the Forester, but it still seems like you'd have trouble getting $10k for it. I've mentally valued our little camper in the $3k-$4k range.
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nccamper
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Post by nccamper on Aug 9, 2018 9:30:58 GMT -8
Those are some pretty aggressive appraisals. I love the Forester, but it still seems like you'd have trouble getting $10k for it. I've mentally valued our little camper in the $3k-$4k range. That's why we need a legitimate estimate with photos. Once they agree to it in writing, the deal is done.
I heard from people who have insurance through Progressive that at an agreed upon values in the $10K-$20K range they just write a check because there are so few places to get the work done. If you make a claim every 6 months it may be a different story.
With that said, it all comes down to how much you trust the idiots on the road to stay clear of the camper. Do you feel lucky?
No matter how high the insurance payoff might be, nothing will pay me back for the hours spent restoring the Forester.
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DaytonaGTS
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Post by DaytonaGTS on Aug 13, 2018 20:59:02 GMT -8
We went through Safeco. with an agreed upon value of $20K for $300 year/ $100 deduct, even got no deductible glass repair. They wanted to see pictures of the trailer as is and we were good to go.
When I paint it this Winter and finish up the small stuff I will get it appraised and then adjust as needed.
Totally agree no amount of money will cover the time spent working on it. But the payoff if totaled will cover my expenses with doing another one and then some.
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nccamper
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Post by nccamper on Aug 14, 2018 4:53:15 GMT -8
I’ve been giving the question of insurance for vintage campers a lot of thought. Three things are hard to overcome.
Will the insurance company agree in writing to a value then renege if the camper is totaled? I’ve never heard of it happening, yet I harbor a deep mistrust of insurance companies.
Will the insurance company low-ball the payment of damages that need repaired because they don’t understand the work involved? If yes, we need to be prepared with estimates and a non-smooth claim process.
Do I even need insurance? We towed our camper over 10,000+ miles this year. So we needed insurance. If we were parking our camper indoors (away from falling trees) and only taking it only to a local lake several times a year, I wouldn’t get insurance.
In general, I think insurance companies would find our claims too small to bother fighting but I understand the deep distrust we all feel. If I was camping in the $250K holiday house, now for sale on eBay, I’d assume the insurance company would fight any claim.
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kudzu
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Post by kudzu on Aug 14, 2018 7:07:04 GMT -8
Will the insurance company agree in writing to a value then renege if the camper is totaled? I’ve never heard of it happening, yet I harbor a deep mistrust of insurance companies. Read this. www.lelandwest.com/stated-value-vs-agreed-value-classic-car-insurance.cfmI posted it above. It deals with antique cars but it applies to campers as well as old cars. Not true. Largely depends on the Adjuster you are dealing with and I am sure their bosses too. I have personal experience with an Antique car claim and they will fight you tooth and nail over smaller claims.
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Poquito
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Post by Poquito on Aug 29, 2018 3:35:11 GMT -8
Our problem has been since we had four members of our family covered by our car insurance policy, one accident between two family members in the driveway (I know), and one accident with a family member's boyfriend in our car (I know), caused our insurance to be dropped. Said too many claims (three). So the fact that claims can cause your insurance rate to go up or even dropped all together keeps us from making claims if we can work around it.
One family member got her own insurance (yea!) and so we are down to three. Big cut in cost with new insurance company (yea!). So I have been reluctant to insure the camper because of the amount we were putting out but now that it is less than half of what we were paying I need to look into it. Everything is new on my camper and so I don't know how they are going to appraise it unless they go by the cost to replace with the same quality material and labor? The frame is from 1968, time to make phone calls. Oh, by the way, it was Progressive who dropped us.
Poquito
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