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Open Roads Forum  >  Class C Motorhomes  >  Class C

 > Declared Value Insurance.....any carriers you recommend?

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VA-Apraisr

glen allen, VA

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Posted: 05/23/22 03:10pm Link  |  Quote  |  Print  |  Notify Moderator

Was fishing this past weekend and lightning struck a 13' graphite fishing rod on the front of my RV in the cooler rack. It vaporized the rod completely and broke front windshield but otherwise not damage to RV. I only carry liability insurance, so, this would have been devastating if my RV had burned up. Since it's 4WD and customized, want to insure it for comprehensive/total-loss insurance with a declared value of $60,000.

Any insurance carries you'd recommend before I do the dreaded Google search which will automatically generate wayyyyy to many inquires from every insurance provider out there?

Fire Instructor

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Posted: 05/23/22 03:28pm Link  |  Quote  |  Print  |  Notify Moderator

I just shopped around a bit, and landed on Progressive for my new Class C.


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Lwiddis

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Posted: 05/23/22 04:20pm Link  |  Quote  |  Print  |  Notify Moderator

“I only carry liability insurance, so, this would have been devastating if…”

Exactly why I carry full insurance. I don’t want to be financially devastated.


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Grit dog

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Posted: 05/23/22 04:41pm Link  |  Quote  |  Print  |  Notify Moderator

Had Progressive for many years with declared or agreed value policies. Fair/easy on establishing value and good rates. No claims so can’t speak to that. Only dumped them because they found it necessary to jack our other vehicle rates.
Currently have American Family. No issues getting policies and decent premiums. No claims , so …

Have you tried your auto or homeowners company?
Note, if it’s something custom you may need an appraisal to substantiate the limits.


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valhalla360

No paticular place.

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Posted: 05/24/22 07:19am Link  |  Quote  |  Print  |  Notify Moderator

VA-Apraisr wrote:

Was fishing this past weekend and lightning struck a 13' graphite fishing rod on the front of my RV in the cooler rack. It vaporized the rod completely and broke front windshield but otherwise not damage to RV. I only carry liability insurance, so, this would have been devastating if my RV had burned up. Since it's 4WD and customized, want to insure it for comprehensive/total-loss insurance with a declared value of $60,000.

Any insurance carries you'd recommend before I do the dreaded Google search which will automatically generate wayyyyy to many inquires from every insurance provider out there?


What's the market value of the rig and can you convince the insurance company?

If it's way outside the comparable prices on the market (or just an oddball), expect to provide a survey and independent appraisal. Don't expect your love of the rig to sway them.

If it's a $5k RV, they won't let you insurance for $60k.


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VA-Apraisr

glen allen, VA

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Posted: 05/25/22 02:42pm Link  |  Quote  |  Print  |  Notify Moderator

I expect resistance for sure. Just know the 4x4 conversion is now $20-23k range alone and upgraded the entire interior, lithium battery system, suspension, solar, etc. and the only reason I dropped my comprehensive a few years back was
because they based it on a stock 2003 RV and had a value of around $9000. I'll make some calls and see what I can do to try and get some reasonable coverage in case "lightning" strikes again. Thanks all!

delwhjr

TX

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Posted: 05/25/22 02:55pm Link  |  Quote  |  Print  |  Notify Moderator

State rules can vary but State Farm has given me whatever stated value I asked for and then charged accordingly if outside the underwriting framework.


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thomasmnile

Lake Mary, FL

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Posted: 05/25/22 03:50pm Link  |  Quote  |  Print  |  Notify Moderator

Man, I'm still marveling at this unfortunate incident. What are the odds??

Thank God the OP wasn't holding the fishing rod..

valhalla360

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Posted: 05/26/22 05:31am Link  |  Quote  |  Print  |  Notify Moderator

VA-Apraisr wrote:

I expect resistance for sure. Just know the 4x4 conversion is now $20-23k range alone and upgraded the entire interior, lithium battery system, suspension, solar, etc. and the only reason I dropped my comprehensive a few years back was
because they based it on a stock 2003 RV and had a value of around $9000. I'll make some calls and see what I can do to try and get some reasonable coverage in case "lightning" strikes again. Thanks all!


The cost of the upgrades is irrelevant. The issue is what is the market value of the finished product.

I'm guessing based on your description, you are thinking somewhere around $40-60k...if the stock unit has a market value of $9k, that's going to be a steep climb.

Be very specific and get it in writing. Just because they issue a policy doesn't mean they will pay out when it comes time for a claim.

VA-Apraisr

glen allen, VA

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Posted: 05/26/22 04:17pm Link  |  Quote  |  Print  |  Notify Moderator

Yep, nothing left to chance with insurance underwriters/policies. I have a 750hp 1994 Jeep Grand Cherokee I used to race (now just a toy) and had a declared value on that for $25k (just the cost of the engine setup) and didn't have a problem. Fingers crossed I'll try Progressive/State Farm/American Family for some input. Thanks again all!

PS: And yes, had left the beach due to lightning approaching and one gal on the beach was holding her pole and lightning struck the ocean and she felt it in the pole and dropped it and ran to the truck. I never fish in the storm and left accordingly but somehow it decided to send me a signal [emoticon]

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