Teardrops n Tiny Travel Trailers

How does one determine the value of a teardrop camper?
I want to add my camper to my auto insurance but how do you figure out the value? I have never insured any of my campers so I dont have a clue how they value something like a camper.
Anyone have experience with insurance and campers? Thanks!!
Aaron

From what I have seen of yours... I'd estimate yours to be worth One Million Billion Dollars.

Airspeed wrote:How does one determine the value of a teardrop camper?
I want to add my camper to my auto insurance but how do you figure out the value? I have never insured any of my campers so I dont have a clue how they value something like a camper.
Anyone have experience with insurance and campers? Thanks!!
Aaron

Aaron... I would think using something like Cary Winch's Camp-Inn as a comparable model to yours should establish a reasonable value for your insurance company to go by? His 550 model is kinda like yours. Being as how your is very nice and a unique custom build... I don't think $14,000. to $15,000. is out of line for a value, maybe more! Another thought may be to contact some of the companies that insure classic restored cars. They generally let you set the value. This is who insures my oldies: http://www.classicins.com/google/index.htm Some of my buddies use: http://www.hagerty.com/

Cary's site: http://home.centurytel.net/edevold/
http://home.centurytel.net/edevold/pricing.htm

Airspeed wrote:How does one determine the value of a teardrop camper?

I'd say your tear is worth $150. I'll give your $200 and I'll pick it up this weekend.

Hey Airdude,
If its like mine its what you time is worth"bout a buck" times hours spent plus parts so lets see I got 2600 in parts and bout 80,000 hours and that makes 82.600. Wanna buy it ..... 10% discout to first ten buyers

I would think the higher the dollar value you place on it (even if you totalled up your hours materials etc...) the higher your insurance company is going to charge you to insure it.

I thought (some) car insurances cover trailers that your towing on your car insurance. But I guess that wouldn't include theft if it's not being towed....


I have to go get the ownership changed on the tent trailer I just picked up; so I'll also go to my insurance provider to see how much it's going to cost to insure.

I supplied them with the info that I took to DMV...receipts + time invested. I insured the Road Titan for 10K and I think it was like 70$ a year...Doug

One thing that I have hear about from the kitplane hobby is that over-insuring is a problem. The insurance company is going to look at what it costs to repair vs what it costs to total. If you over insure it, they may insist in fixing something that is just too broke to be worth it. Now, a teardrop is not going to fall out of the sky, but consider if you would rather fix it, or build version 3.

Many folks pick up insurance to replace the parts, and assume that the labor is "free" anyway.

Andrew Page

Most insurance companies won't argue if you take the cost of materials and multiply by 3 (but don't tell them that's how you came up with the value ... they're not inclined to insure "sweat equity" ... ...)

CHEERS!

Grant

Aaron, my insurance company sent an agent to my house to inspect my tear. I also showed him the Camp Inn site and SoCal Teardrops for price comparison. Then between the two of us (He had never seen a teardrop before). We came up with an appraised value and both agreed on $15,000. I also gave him a nice tall glass of ice tea.

Wow! $15,000. sounds good to me. Maybe I will have to sell it! (never!)
Thanks!! Aaron

Airspeed-
I was going to suggest you consult With Gage
I think all the insurance companies do to get FREE Ice Tea!

Seriously - My Wife is an agent and each company is different she says but, most will cover ONLY your "out of pocket expenses" (If you just give them a number of what it is worth) Even though you may pay for more coverage you still have to prove what you paid for it if you ever had a claim. Keep All your receipts and remember Insurance companies don't like to cover sweat and probably wont. Gage is definitely on the right track though if You can get your insurance company to "Appraise" the value that is the way to go.
Even it it does cost you a Glass of ICE TEA on the hottest day of the year.

It's easy to undervalue your building efforts ,until you have to buy something similar ...