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Insuring an older rig

Any suggestion on an insurance company that will give an agreed or stated value on a 1998 Foretravel U320?  Most insurance companies will insure on an old RV at the actual cash value or NADA book. Nada on an older U320 can be much lower than the retail cost to replace the rig in the event of a total loss.  Book on a 20-plus-year-old rig will be in the low twenties however if you had to replace the rig it would cost much more.

Re: Insuring an older rig

Reply #1 –
Quote from: reece1975 –
Any suggestion on an insurance company that will give an agreed or stated value on a 1998 Foretravel U320?  Most insurance companies will insure on an old RV at the actual cash value or NADA book. Nada on an older U320 can be much lower than the retail cost to replace the rig in the event of a total loss.  Book on a 20-plus-year-old rig will be in the low twenties however if you had to replace the rig it would cost much more.

It's HIGHLY state-dependent, since insurance is regulated at the state level, including whether agreed or stated value is even an option.

There's some prior discussion - here's a thread within the past few years that suggests Safeco Agreed Value Insurance Issue

A suggestion to contact Overland (we use them - it's an independent broker and Ron Jarvie is the owner/agent)  Agreed-Value Insurance

Agreed value insurance. Got it!
Learn every day, but especially from the experiences of others. It's cheaper!  - John C. Bogle

2000 U320 36' non-slide / WildEBeest Rescue
2003 U320

Re: Insuring an older rig

Reply #2 –
We have an "agreed value" policy with Progressive.
 
Justin & Cathy Byrd
1995 U280 "Old Faithful"
36' Build #4673
C8.3 Cummins
Allison MD3060R 6 speed - retarder
Powertech 10KW  4cyl Kubota

Re: Insuring an older rig

Reply #3 –
Overland  Insurance Services (Agency@rvins.com  800-677-4027) wrote our agreed value policy through Progressive on our 2002.  Progressive (Florida) would not issue an agreed value policy directly.

Agreed value required an appraisal.  Overland insurance recommended James Polk (jamespolk@polkvaluations.com (805) 646 7293).  Sending in pictures and a narrative of all the upgrades/remodels performed was sufficient.

We have a Full-Timer policy on the motorhome.  Overland Insurance was very helpful. They checked with several insurer to get the best rate.  Highly recommend them.



Joe Phebus and Jaime Trujillo
2002 U270 3410  Build: 5953 Motorcader # 18595
2100 W Solar, 600 AH Battleborn Batteries,  Victron Multi-Plus II 3000 Inverter, Cerbo GX, & MPPT Chargers
1992 Geo Tracker

Re: Insuring an older rig

Reply #4 –
Progressive agreed value
Frank & Daisy
NO LONGER  "looking for the perfect Foretravel
36' or less non slide preferred."  She has been found and is ours.
2003 U320 36' non slide  Unit 6103
Cummins ISM 450
Allison 4000MH

Re: Insuring an older rig

Reply #5 –
We were [paying] State Farm 300 a month. After reading this thread, decided to call USAA who referred us to Progressive. Got an agreed value policy with vanishing deductible for 1000 bucks a year. Same coverages, 100-300 but Progressive has a couple added benefits. Vacation insurance and windshield for zero deductible.

[inappropriate term replaced - moderator Michelle]
1990 Grand Villa Unihome 36ft U280
Build # 3587

74 Super Beetle

Re: Insuring an older rig

Reply #6 –
What state and how old is your rig

Re: Insuring an older rig

Reply #7 –
I'm in Kansas. We have a 90 diesel pusher. They were trying to say it's only worth 10,300 for replacement value, but I argued the fact that my tires and solar w/ lithium batteries were almost worth that alone. So now, if anything catastrophic happens the adjuster will research comparable coaches and we can come to some kind of agreement.
1990 Grand Villa Unihome 36ft U280
Build # 3587

74 Super Beetle

Re: Insuring an older rig

Reply #8 –
I live in Wichita, also have progressive. I was only aware of a ACV policy. Be sure and read your documents when you get them. They may tell you one thing and put you down for another. I have never been able to get agreed value in Kansas.

I like how they ask me what I paid, then when I ask them what they say it's worth (10,000), I say they are crazy. Either way I feel like if something happens they are going to put the screws to me.

Please message me or reply back to this discussion if you indeed get Agreed value stated on your documents .
John Hobbs
1995 U300 SE
M11 / Retarder
Private toilet
1 of 1
Wichita, Ks

Re: Insuring an older rig

Reply #9 –
Yes, it's an agreed value, at least it looks that way to me...
1990 Grand Villa Unihome 36ft U280
Build # 3587

74 Super Beetle

Re: Insuring an older rig

Reply #10 –
The agreed value on my coach is 25k.
1990 Grand Villa Unihome 36ft U280
Build # 3587

74 Super Beetle

Re: Insuring an older rig

Reply #11 –
Uninjected  if you hit a late model luxury suv with that thing and total it you're going to be out of pocket about $50k.  If there is a dentist driving it who can't practice for a month or two it will be a lot more.  Just sayin.

It might be great coverage for the coach but the agent left you with a lot of risk
Rick & Rhonda
2003 U320 4220  Build #6199
Was
91 36' GV 300 Caterpillar, 92 40' U280 300 Cummins, 97 36' U295 300 Cummins, 2002
U320 450 Cummins
(Guess we're hooked)

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Re: Insuring an older rig

Reply #12 –
So, Mr. Johnston made an excellent point!

I raised my coverage to 1 million dollars per incident for a total yearly cost of 1187.00
1990 Grand Villa Unihome 36ft U280
Build # 3587

74 Super Beetle