Seeking RV Insurance for 4WD New SMB

[arctictraveller]

Originally Posted by AKSeeker

He also suggested that I could get an appraisal done and submit it to be placed in my file as proof of the current market value at this time.

This sounds like a good idea, I wonder who would do one, perhaps an RV dealer?
Any further updates on your claim Greg?

[gcvt]

Originally Posted by AKSeeker

Wow, I read this thread until I fell asleep last night and it provided a lot of "nightmare material!"
Greg, how did your situation with State Farm end up, or is it still ongoing? I have had a State Farm RV policy since I bought the van used in 2011. Initially it was $660 per year and has gradually decreased to $549 for this year's annual renewal. Some of what I read got me worried enough to call my SF agent this morning and ask some questions. He said that even though the renewal shows it listed as a 2006 Ford E350 Econoline Van, it is an RV Policy and SF clearly knows that it is a van camper conversion. He said that SF doesn't do "stated value policies," but that in the case of a total loss, it is SF's intention "get you back into what you had before." He said keeping all receipts for the conversion, other items added, maintenance records, etc. would all be important to establish the value of the vehicle (read as: basically ammunition to argue up from the depreciated book value of a 2006 SMB). He said that the low mileage, the fact that the Ford diesel vans are no longer made, and record photos of condition would all be used in consideration of establishing the value in the event of a total loss. He also suggested that I could get an appraisal done and submit it to be placed in my file as proof of the current market value at this time. If feel a little better, but I suppose this is all "sales talk" until there is actually a loss event?

I can give you one example of how they'll handle receipts for items added. It was 13 days from the day I completed my solar panel installation until the day my van was stolen. I paid $665 for the system. They say the system was worth $190 at the time of theft. That's a depreciation rate of $36.54 per day. So I guess after another 5.2 days they would value it at $0.00.

Originally Posted by arctictraveller

This sounds like a good idea, I wonder who would do one, perhaps an RV dealer?
Any further updates on your claim Greg?

Still fighting with them over the comps they've offered up. One was a '97 Ford with no plumbing and no generator, and the other was a Dodge with no generator. In the original valuation, they made adjustments for the generator. Now that they're both sold, and we can't view the ads online anymore, they're saying they both had generators. Cute little game they're playing.

Since we can't agree on how the vans were equipped, it's time for them to find two new comps. If they refuse to find new properly equipped comps, I'll file an Unfair Claims Settlement Practices complaint with the California Dept of Insurance and let them deal with it.

[arctictraveller]

Crap, sorry to hear you are getting the run around.

[gcvt]

Originally Posted by arctictraveller

Crap, sorry to hear you are getting the run around.

Since May 28

[arctictraveller]

Yikes! Mrs AT says the first thing I need to do when we get back is to have a sit down with our agent. I'm quite worried as I have the same ins as you and Robb. Next will be an appraisal with photos in my agents file and a GPS tracking device hidden in the van. Any questions you can think of that I should be asking my agent?

[AKSeeker]

I had a nice discussion with a retired auto body shop owner / "star" Insurance Adjuster friend of mine today about the professional appraisal (with photos and receipts) suggestion of my State Farm agent. He thought it was a really good idea for our type of "non-book" customized vehicle,.. He said that the cost to have this done would be insignificant to the thousands of dollars that could be at stake in a total loss. He commented that he thought that State Farm was a good company in his experience, but that an Insurance Adjusters job is to "save the insurance company money" while settling the claim. He said that they are bound by certain directives from the insurance companies and if they don't follow them, they get fired. He told me that the appraisal should be done by a "state certified Motor Vehicle Appraiser," and that all states have them to do appraisals for non-stock, customized type motor vehicles for license registration and tax purposes. Apparently that is the only type of impartial appraisal that would be an uncontested value of the vehicle (as of he date of the appraisal), which the insurance company would then depreciate it down from as the years go by.

Reminds me, I always liked that line by the survivalist character played by Burt Reynolds in the movie, "Deliverance," when he says, "Insurance?,.. I don't believe in insurance, there's no risk!"

[berns378]

2004 had a few different companies. purchase price new 76000 insured for 10000 thousand. under 900 per year with foremost ins.

[AKSeeker]

[I can give you one example of how they'll handle receipts for items added. It was 13 days from the day I completed my solar panel installation until the day my van was stolen. I paid $665 for the system. They say the system was worth $190 at the time of theft. That's a depreciation rate of $36.54 per day. So I guess after another 5.2 days they would value it at $0.00.][/quote]:from Gregg,
(sorry I haven't figured out how to do this "Quote" feature properly)

Gregg, That is just Not Right! Sometimes I think that the whole "Comprehensive / Collision" Insurance thing is such a racket,... They make their promises to take good care of you and happily take your money over the years,... Meanwhile, they are quietly and quickly depreciating the value of your vehicle without any disclosure that you are paying the same money for less and less coverage. Then if you have theft loss such as yours or a "totalled" accident situation, you have to fight for months of extended agony just to get them to live up to their promises. For this reason I usually drop the Comprehensive / Collision after a few years on all but our newest vehicle and accept the risk, figuring that depreciated "book value" that they will pay in the event of a loss isn't worth more than three or four years of premiums. But that doesn't make sense on a valuable and highly maintained vehicle like a SMB or airplane that isn't really declining that much in market value. I'm sorry you are having such a rough time with your claim,... but your experience is a warning to all of us! Walter

[gcvt]

Originally Posted by AKSeeker

[I can give you one example of how they'll handle receipts for items added. It was 13 days from the day I completed my solar panel installation until the day my van was stolen. I paid $665 for the system. They say the system was worth $190 at the time of theft. That's a depreciation rate of $36.54 per day. So I guess after another 5.2 days they would value it at $0.00.]

:from Gregg,
(sorry I haven't figured out how to do this "Quote" feature properly)

Gregg, That is just Not Right! Sometimes I think that the whole "Comprehensive / Collision" Insurance thing is such a racket,... They make their promises to take good care of you and happily take your money over the years,... Meanwhile, they are quietly and quickly depreciating the value of your vehicle without any disclosure that you are paying the same money for less and less coverage. Then if you have theft loss such as yours or a "totalled" accident situation, you have to fight for months of extended agony just to get them to live up to their promises. For this reason I usually drop the Comprehensive / Collision after a few years on all but our newest vehicle and accept the risk, figuring that depreciated "book value" that they will pay in the event of a loss isn't worth more than three or four years of premiums. But that doesn't make sense on a valuable and highly maintained vehicle like a SMB or airplane that isn't really declining that much in market value. I'm sorry you are having such a rough time with your claim,... but your experience is a warning to all of us! Walter[/quote]

It is certainly not right. If only that was the biggest of my problems. Being outright dishonest about the comps having generators is a much larger issue. Instead of trying to just play with some numbers, they're now just fabricating things. I sat on hold for 54 minutes today and gave up. They must have caller ID. I used to wait 5-20 minutes to get through to the 'super special claims specialists'. I'll try again tomorrow, when I can just sit on speakerphone hold for however long it takes. Admitting that both comps had no generators in valuation #3, and now saying they both did in valuation #6...with no way to prove it...is just dishonest. I'll be interested to see how they try to squirm out of this one.

[DerPo]

Throwing in my .02$ from California.

I ended up going with SafeCo Ins and used Justin ( Mentioned in a few posts back) who was familiar with SMB and I think even has a few clients from this forum.

I checked with my old broker, who wrote with Mercury, and they could only do the value of the van (5K) plus a max of 1K of "accessories" with receipts.

Safeco was able to write the van for a value of 27K, NOT AN RV. So my premium is about 550 a year.