Insurance value

[gyuill]

I have a used 2012 escape 19 that I have insured with Geico but I can't get an answer from them on what they would consider the value of the trailer if it was totaled. I also have quotes from Progressive and Good Sam (National) and they also won't give me that info. It is easy if you have a new trailer to get a total replacement policy and all of the companies that I have contacted agree to use the price that I paid as the starting price. However none can tell me what they will use if I file a claim and none of the guides I can find have the Escapes listed. The NADA does have Casita listed but the price of a 2012 is about half of what they are going for. Am i missing something?

Graham

[Jim Bennett]

Originally Posted by gyuill

I have a used 2012 escape 19 that I have insured with Geico but I can't get an answer from them on what they would consider the value of the trailer if it was totaled. I also have quotes from Progressive and Good Sam (National) and they also won't give me that info. It is easy if you have a new trailer to get a total replacement policy and all of the companies that I have contacted agree to use the price that I paid as the starting price. However none can tell me what they will use if I file a claim and none of the guides I can find have the Escapes listed. The NADA does have Casita listed but the price of a 2012 is about half of what they are going for. Am i missing something?

Graham

I would get replacement value, based on the cost of replacing it new, not on what is determined as current worth. This is what I have always done, and I believe many others do too.

[gyuill]

It does not seem that the companies I have contacted wil do full replacement on used trailers.

Graham

[Jim Bennett]

Ate they not all used pretty quickly?

[gyuill]

I think Progressive will give full replacement for 5 years only starting with a new trailer. I don't think they willl do that on a 1 year old trailer.

[Dave & Penny Smith]

Graham:
For what it's worth, we have our 17B insured with GEICO. We had been long-time GEICO policy holders for our autos when we bought our Escape (new) in 2015. GEICO shows on our policy (combined auto & trailer) that the Escape is covered for "replacement" value. I don't know whether or not they offer this level of coverage for other than new trailers. With Escapes holding their value as they do, we would only consider a policy the offered replacement coverage. Hope this information is of help.
Dave

[gyuill]

Was it insured new and is there a limit (years) on the full replacement? Is it a replacement with a new trailer? (2017)

[advenas]

I am with State Farm and insured my new Escape 17B brought home in March. Their version of "replacement value" is current market value. When I asked just what "current market value" meant they said they would look at the market prices for Escape trailers outfitted like mine, same year, etc and that would determine the "replacement value".

I asked about having a policy that would replace it full cost for a new trailer and they said nobody does that. Too expensive to cover.

If someone has a full cost new policy I'd be interested in hearing about it.

[thoer]

Originally Posted by advenas

I am with State Farm and insured my new Escape 17B brought home in March. Their version of "replacement value" is current market value. When I asked just what "current market value" meant they said they would look at the market prices for Escape trailers outfitted like mine, same year, etc and that would determine the "replacement value".

I asked about having a policy that would replace it full cost for a new trailer and they said nobody does that. Too expensive to cover.

If someone has a full cost new policy I'd be interested in hearing about it.

That is almost precisely what my agent told me when we talked about the Progressive policy I am getting. Jim, who are you getting yours with?

[Jim Bennett]

I had full replacement on my 19 for the 6+ years I owned it.

[gbaglo]

And I have had full replacement since 2008. I asked the agent about it recently because of issues some on the forum have had, and I was told if my trailer disappeared or was totaled, they would replace it with a 2017 17B similarly equipped.

If you store your trailer in downtown Detroit, you probably won't qualify.

[advenas]

Originally Posted by gbaglo

And I have had full replacement since 2008. I asked the agent about it recently because of issues some on the forum have had, and I was told if my trailer disappeared or was totaled, they would replace it with a 2017 17B similarly equipped.

If you store your trailer in downtown Detroit, you probably won't qualify.

What insurance company? I'll move over...

[gbaglo]

Originally Posted by advenas

What insurance company? I'll move over...

I doubt that AVIVA operates in the US. I pay another hundred on top of that for tag and basic liability.

[Jim Bennett]

Originally Posted by gbaglo

I doubt that AVIVA operates in the US. I pay another hundred on top of that for tag and basic liability.

Aviva is who I use too. Highly recommended.

[cpaharley2008]

Glenn,
Why do you have earthquake insurance? Is your area prone to quakes?

[gbaglo]

The whole west coast of North America is waiting for the big one.
I don't recall asking for it though. Like that I have overland flood too, which didn't used to be available in Canada.

[KarenH]

Now I have a Johnny Cash ear worm. Thank you very much...

[gbaglo]

And, now I have it.

[Mark&Elaine]

Originally Posted by gyuill

I think Progressive will give full replacement for 5 years only starting with a new trailer. I don't think they willl do that on a 1 year old trailer.

I purchased the Progressive insurance on my new 5.0 with the 5 year replacement clause. However, my agent explained that the replacement value was only up to what I originally paid for the trailer. If the price of a replacement exceeded what I paid, I would be responsible for the difference and pay the deductible. The cost of this replacement coverage was about double the cost without it. I opted to purchase it anyway.

[float5]

Originally Posted by Mark&Elaine

I purchased the Progressive insurance on my new 5.0 with the 5 year replacement clause. However, my agent explained that the replacement value was only up to what I originally paid for the trailer. If the price of a replacement exceeded what I paid, I would be responsible for the difference and pay the deductible. The cost of this replacement coverage was about double the cost without it. I opted to purchase it anyway.

That is not full replacement value as I understand it. They are selling you something else. Full replacement value will give you a new trailer in the year in which it is totaled and you would not pay anything for that. If you total a 2017 trailer in 2020, you would be given a new 2020 trailer with everything that you had on yours from the factory in 2017. Maybe Progressive does not actually have full replacement value. Or the agent you have is not familiar with it.

EDIT:

I see that Progressive does have it. They call it "full total loss replacement" but from what you say, you have not been sold that but something else. You might want to go into that again and get that fixed.