Re: NADA value
Reply #7 –
Good comment, Barry and Cindy. It is so important to know how you are covered. The last thing you want to do is find yourself replacing, or unable to replace, your rv with funds from your insurance company, that will not cover even a small part of its replacement. I found this article informative: https://www.lelandwest.com/stated-value-vs-agreed-value-classic-car-insurance.cfm
Do not be afraid to question your insurance agent. Often your agent will say that what you want is not available. I would then search further. For more than 20 years I've found these people at HiSage very helpful and they do offer policies with the more desirable coverages. They will give you a free quote over the phone and send you a copy. Hi Sage Insurance
Also it is important to know state laws, as well as premiums, vary from state to state for what a total loss is, also important to know. And it is so important to know, even though I believe insurance companies are better, since having their hands slapped. Please understand that in settling with you, they are looking out for their interests, not yours. They often use companies that value your rv, and are so influenced by the insurance company paying them for the appraisal.
NADA is only a guide used by financial institutions and in insurance companies. Most of their money comes from these institutions, not the public, or vehicle dealers. So guess whose interest they favor, the financial institutions and insurance companies. Some rvs are worth under book and some are worth over book value. Some are worth over the retail guide, and some, if free, are not a good deal. As buyer beware, we as the insured, also need to beware.
Topic: NADA value