Suddenly, all the work I've done on this build seem like it's for nothing...mustangcats wrote:Many (if not most) insurance companies will not insure homemade trailers or anything with a state assigned VIN. And if you are able to get one insured, I think it is highly unlikely you would be able to get an agreed value policy through a regular insurance company. Those who say they have an agreed value policy for their trailer may want to make sure that is the case. It could very well be a stated value policy. You can find this out by getting a copy of the specific policy for your trailer and checking to see if there is an endorsement that gives you agreed value coverage. Also check the part of the policy that tells how losses are settled. If they mention actual cash value and you don't have an endorsement stating losses are settled on the agreed value, then the policy is most likely stated value. In that case if the stated value of your trailer is $10,000 that is the absolute most you would be paid. However, the adjuster would try to come up with a value based on depreciation and you would most likely get less...possibly much less. Many people don't have an idea how their policy will cover a loss, and many times agents give wrong information. And at the time of a claim, things can really go wrong. Another thing you need to know is that if another driver is responsible for damage to your trailer, his/her insurance will only pay actual cash value. And you may be very unhappy with the value they place on your trailer. If you do indeed have an agreed value policy, then you would need to turn in a claim to your insurance to cover the rest.
Brian are you using Hagerty? Because they are telling me they have no programs for campers... ?Vedette wrote:Just one word Michael.
"Hagerty"
Good Roads
Brian & Sandi
Atomic77 wrote:Brian are you using Hagerty? Because they are telling me they have no programs for campers... ?Vedette wrote:Just one word Michael.
"Hagerty"
Good Roads
Brian & Sandi
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The world of "caravans" down under is a completely different alternative reality wrt legal requirements and insurance from the wild and woolie US. Basically the governments here say "do what you like with that bucket of bolts", it's your funeral.dales133 wrote:Not sure about there but when I made enquires about insuring mine several companies directed me to some caravan valuation places.
You pay a fee of about 150 and fill out a bunch of details and your expected valuation and they do a valuation you can submit to the insurance company.
We have specialist caravan insurance companies here to
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