Insurance

Ron_Nunan · 03-26-2019, 08:47 PM

I’d like to hear from the Ford E350 SMB people out there...
I’m purchasing a 2001 EB50 7.3 tomorrow and have found that my insurance company (USAA) is completely clueless for coverage.
Let’s say it’s value is 80k+ and I want to insure it for that...
who are you guys using and what are we telling them to get it properly insured?
Thanks!

renegadeoverland · 03-26-2019, 08:53 PM

I am using StateFarm and I have my rig insured for the price I purchased it for and could reasonably rebuild it for if I needed to (within some form of reason of course).

When I called to setup the insurance they asked if the vehicle was stock or modified. I explained it was modified and walked them through the modifications (4x4, pop-top, aftermarket bumpers, solar/batteries etc) and they asked for the estimated cost for all that.

They also asked for pictures and receipts for the work done by the previous owner to establish the value of those modifications (which I have but I have not yet fully provided to them but will soon -- I just bought my rig about 3 weeks ago).

Short of having that sort of information I would take it to reputable shop (I have a guy in town) and get a quote for the work I would have him do to provide the basis for the value ahead of time, basically get it appraised for its actual value.

The only thing that is hard to fully quantify is the value of the 7.3 since that is more a strong preference but there is no objective scale to make them understand that the base Ford E350 van (a 1998 in my case) is worth 5k more just cause it has a certain drivetrain.

But at the end of it they were willing to do the math effectively that Base Van + Modifications = Insured Value

For the record, I have my rig insured at a value of roughly 40k for a cost of around 100 dollars a month. I am content with that price and for their cooperation of insuring an odd vehicle that I have heard horror stories about from other people trying to get their rigs insured.

gcvt · 03-26-2019, 11:32 PM

I'm with State Farm as well. I switched over from Allstate because they didn't want to take the time to understand what a Sportsmobile was, and just wanted to insure it as a van. My State Farm insurance card actually says "Sportsmobile" on it. My first SMB was stolen and they ended up paying out an amount that made me very happy. It did take quite a while, but that's not State Farm's fault - all their total loss claims go through a third party company. I suspect this is the case with most insurance companies. My local agent really went to bat for me.

JWA · 03-27-2019, 04:37 AM

Its interesting State Farm Insurance seems to be so well regarded out west---here in the mid-west they're widely reviled. Having been in the body shop biz some years ago they were one of the most difficult and resistant to paying for needed repairs for collision repairs.

I would think there are more than a few insurers who specialize in RV/SMB coverage. Perhaps the trick is finding them?

**daveb** · 03-27-2019, 10:19 AM

Quote:

Originally Posted by Ron_Nunan

I’d like to hear from the Ford E350 SMB people out there...
I’m purchasing a 2001 EB50 7.3 tomorrow and have found that my insurance company (USAA) is completely clueless for coverage.
Let’s say it’s value is 80k+ and I want to insure it for that...
who are you guys using and what are we telling them to get it properly insured?
Thanks!

Quote:

Originally Posted by JWA

Its interesting State Farm Insurance seems to be so well regarded out west---here in the mid-west they're widely reviled. Having been in the body shop biz some years ago they were one of the most difficult and resistant to paying for needed repairs for collision repairs.

I would think there are more than a few insurers who specialize in RV/SMB coverage. Perhaps the trick is finding them?

I've had State Farm for basically all my life but they wouldn't touch my van as a converted 4x4 van. When new, I requested full replacement value for the entire van for a reasonable price and they told me I'd be better off going elsewhere. I bundled with Good Sam and got a policy I was after.

The main question is how they really cover you after your vehicle is totaled but I've yet to see anybody post, yeah I was covered for 100K and they wrote me a check to cover the cost. I understand there is depreciation involved but it never seems to put you back in the seat of a similar used SMB w/o digging into your pocket.

Anyway make sure to read this post:
http://www.sportsmobileforum.com/for...-smb-5412.html

renegadeoverland · 03-27-2019, 11:20 AM

Quote:

Originally Posted by daveb

I've had State Farm for basically all my life but they wouldn't touch my van as a converted 4x4 van. When new, I requested full replacement value for the entire van for a reasonable price and they told me I'd be better off going elsewhere. I bundled with Good Sam and got a policy I was after.

The main question is how they really cover you after your vehicle is totaled but I've yet to see anybody post, yeah I was covered for 100K and they wrote me a check to cover the cost. I understand there is depreciation involved but it never seems to put you back in the seat of a similar used SMB w/o digging into your pocket.

Anyway make sure to read this post:
http://www.sportsmobileforum.com/for...-smb-5412.html

Fair points and at this stage, I have no idea :-) ... and I hope I never have to. I hope for us all we never have to ....

Here's to all of us keeping the shiny side up :-)

EDIT: if I had room I would honestly consider buying one of these stock 7.3 E-series as a baseline backup as a worse case scenario failsafe .... but well, I just paid for my first one gotta use the leftover cash to improve that first :-p

Orv · 03-27-2019, 02:31 PM

Quote:

Originally Posted by JWA

I would think there are more than a few insurers who specialize in RV/SMB coverage. Perhaps the trick is finding them?

My experience -- which may not be typical outside of California -- is that RV insurers want you to have a plumbed toilet. When I admitted to them I didn't have one in my van they said they couldn't help me.

arctictraveller · 03-27-2019, 07:29 PM

Talking about State Farm,I believe the coverage we think we have is highly dependent on the particular agent we talk to. A member here has an agreed value policy (S/F) where as my SF agent said I couldn't get one through them. Different agents seem to have different opinions on how a claim will be valued and paid. I offered to get an appraisal, but he said it wouldn't have much effect on a claim. I've had SF most of my life, and based on others experience here, and talking with my agent, I believe (hope) I would get a fair settlement, but it's interesting to me that different agents have different ideas of how a claim will be settled. Based on Gcvt's SF experience, if you keep fighting, eventually you will get a reasonable settlement, but it takes time. I have no experience with any other company.

wadewaydo · 03-27-2019, 10:44 PM

I have an RV class B, stated value policy with Allstate. All I had to do is show my agent some pics. He drooled a bit. I also have Allstate RV roadside towing. My agent sold me when he said they would even tow me out of the woods. It was true, that has paid for itself many times.

JWA · 03-28-2019, 04:20 AM

Insurance agents certainly have varying levels of what they can offer through whoever they represent. If one is tied only to a specific carrier they're 100% limited to what that carrier offers. As a broker they're authorized to sell different policies from different companies---truly dedicated insurance brokers want to make a sale and most will find a policy you can buy through them.

Agents and brokers are rated on the ratio of policies sold to the claims paid out on those policies. If they write policies that cost the carrier money they lose some or all privileges to represent that carrier. Brokers looking to say on good terms with a carrier will shy away from any potential risky or problematic policy. SMB's as opposed to a bonafide RV would be something unknown to most agents and they'd be prone to walk away rather than learn about that market.

The problem becomes regardless what the agent tells you if they're wrong or deceptive in making promises you won't know until a claim is made. You sign and pay for coverage thinking you have one thing but when making a claim you only then discover you don't have what you thought you had. The agent's promises are not binding to the carrier especially if they're brokers and not employed full-time and exclusively by the carrier.

My advice if you're seeking insurance for any aspect of an SMB is talk to someone in that sort of almost ad hoc sector of coverage. Most have too much money invested in their rigs to go cheap and only after the fact discover their coverage won't cover too much.