I called and talked to Blue Sky, who we have stated value insurance with currently - this means my coach (90 BB Wanderlodge) which has a NADA value of about $1 (I have no idea what it is) can be insured for $60k based on values from differnt sites on the internet (can't really remember how we got the value but that was the replacement value at the time. We asked them about insuring a Newell and got a negative response. Maybe it was the insurance agent I was talking to but last time I called they were very positive... Any idea how to get assure/guaranteed/stated/replacement (whatever they want to call it) insurance on a 1998 Newell?
My insurance is bases on market value to be determined at the time of the casualty even though the premium is based on a value posted in the policy. If I wanted a firm stated coverage, I would have to have a written appraisal of the coach. Total loss occurs rarely and my primary concern is liability. It is common for the insured person to assume he is covered by the amount posted in the policy, but not so.
i know in the wanderlodge community there is an appraiser that i am sure you know, that does appraisals so you can get guaranteed value.
i am only speculating, but i would guess that not all insurance companies even do guaranteed value.
i insure mine for what i think a replacement of similar vintage would be and as chester says, then if there is a total loss, i at least have the hope and possibility that the value determined by the insurance company is high enough.
there are not many places that are set up repair wise to give a good estimate of severe damage to a newell, so if the insurance company calls newell they will get a pretty staggering number.
as wally would have said.....thats my 2 cents worth and i am stickin to it
tom
I see this with special yachts. Best advice is to get an appraisal from a recognized appraiser, he or she should have recognizable credentials and I attach mine to the appraisal being performed.
Without an appraisal the value could and most likely would be questioned, this would put the owner in a delicate position. The value of the loss would now be subjective and left up to the insurer. I try to make sure that we are not "over-insured" and have been lowering the value of our '82 every time it appears warranted.
Good luck!