Insuring my homebuilt -my experience

[tony.latham]

I called my insurer, Hartford to see if they would insure my newly finished teardrop. I'd dome some serious thread searching and reading about insurance and found none about Hartford and homebuilts. I couldn't quite fathom takeing my new beuty on a major road trip without having her insured.

I explained that it didn't have an assigned title or VIN yet but would soon. I used the term "custom teardrop camp trailer" at first and she asked who the company was. I explained it was me, and that it was a "homebuilt." She said, "Just a minute, I'll have to ask a supervisor."
"Uh-oh," I thought as I was put on hold.
When she came back she said, "I need to ask you a couple of questions. Have you made trailers before?"
"Uh, yeah, I sure have." I said, thinking about my utility trailer.
"Will the title have a model name?"
"Uh, sure." I replied hoping that I was speaking the truth (it turned out I was -the title lists it as CAMP in that field).
"I can't insure it until you get a VIN. I'll make a note here about this and you can get back to us when you have it."

After getting my titling done yesterday, I called Hartford and the woman found the note her associate had made. Her first question was about a deductible. I asked what choices I had and she threw out a long list of dollar figures starting (I think) at $50. I asked her what insurance would cost starting at $200.
"What's the value if the trailer?"
"Twelve thousand." I replied thinking about what a new 5x10 costs these days.
"Just a second." After a pause, she said; "That'll be $72 a year."
I happily agreed to the policy.
Scratching my head, I asked; "If it's totaled, how will it be assessed?"
"That'll be based on the bluebook value at the time."

I left it at that. But the new tear –I THINK she is going to be called Flash– is now titled and insured.

TL

[doug hodder]

Good deal, that will give you some peace of mind. I always give my insurance agent a group of photos of the trailer as well, so that if there is any issue, down the road, they have the photos in hand all along. Take photos so that it shows it at it's best. Cleaned up, bed made, galley in order etc...like it was a show piece on display. My agent asks for the photos up front so I'm always ready with a collage of them when I get the insurance. That's a fair price on the insurance in my opinion. "Bluebook value at the time"...that could be a loose end since you don't know what they are using for comps. Doug

[tony.latham]

Good deal, that will give you some peace of mind. I always give my insurance agent a group of photos of the trailer as well, so that if there is any issue, down the road, they have the photos in hand all along. Take photos so that it shows it at it's best. Cleaned up, bed made, galley in order etc...like it was a show piece on display. My agent asks for the photos up front so I'm always ready with a collage of them when I get the insurance. That's a fair price on the insurance in my opinion. "Bluebook value at the time"...that could be a loose end since you don't know what they are using for comps. Doug

Doug: Good advice. I'll burn a CD of tear photos, perhaps a walk through & around video and stash it in my important papers box.

TL

[atahoekid]

I asked my insurance agent and she told me that she could find no one to place the insurance with... I figure I've got a few thousand dollars invested in materials so I'd like to have it insured. What other carriers are out there that handle this?

[doug hodder]

State Farm carries my builds and I'm just over the hill from you. I do have an agent that has insured a number of home builders/restorers however. Doug

[atahoekid]

Good to know. I may go that route although I'll need to find a State Farm agent. The last one I used wasn't very good....

[ssrjim]

State Farm, it was easy. They took a few photos, done.

[working on it]

State Farm carries my builds and I'm just over the hill from you. I do have an agent that has insured a number of home builders/restorers however. Doug

Probably due to the extreme attention to detail you show in your builds. Better than some factory jobs I've seen. An insurance agent will always insure a Bentley rather than a beater.

[Corwin C]

Doug: Good advice. I'll burn a CD of tear photos, perhaps a walk through & around video and stash it in my important papers box.

I'd also put a copy of them in the trailer ... you never know where you'll be when you need them.

[Bogo]

Doug: Good advice. I'll burn a CD of tear photos, perhaps a walk through & around video and stash it in my important papers box.

If it is a fire safe, most electronic media like CDs and DVDs can't handle being exposed to the temperatures fire safes will reach inside them during a fire. They are made to protect papers, not plastic media. I'd recommend a fire safe made for media, or off site storage. Off site could be a safe deposit box, or a relative's place. A detached garage may work if it is really secure.

[tony.latham]

Doug: Good advice. I'll burn a CD of tear photos, perhaps a walk through & around video and stash it in my important papers box.

If it is a fire safe, most electronic media like CDs and DVDs can't handle being exposed to the temperatures fire safes will reach inside them during a fire. They are made to protect papers, not plastic media. I'd recommend a fire safe made for media, or off site storage. Off site could be a safe deposit box, or a relative's place. A detached garage may work if it is really secure.

Yeah... good old CD's/DVDs. I just took my doc video and it's now sitting up there in the cloud –Google Drive, plus a copy on my computer that'll get backed up tonight. - TL