Reply
 
Thread Tools Display Modes
Old 04-16-2018, 01:29 PM   #1
Junior Member
 
Join Date: Mar 2014
Posts: 7
Insurance Coverage

We are considering trading in our 2013 Coachmen Encounter (gas) for a 2018 Coachmen Sportscoach 407w (diesel), which has a very similar layout. I called our State Farm agent to get a quote on the new one. She wanted the MSRP price for the quote and told me that MSRP is the amount the unit is insured for for replacement. We all know no one pays MSRP, so this doesn't make sense to me. Has anyone been paid MSRP to replace a motorhome?
__________________

__________________
Sherry & David and 3 Spoiled Cats
2013 Coachmen Encounter 36BH
slmeyer is offline   Reply With Quote
Old 04-16-2018, 02:31 PM   #2
Site Team
 
bikendan's Avatar
 
Join Date: Jan 2007
Location: Camano Island, Washington
Posts: 19,727
Our State Farm agent asked for the same thing.
In 14 years of being on various RV forums, I've never seen anyone pay MSRP.
__________________

__________________
Dan-Retired California Firefighter/EMT
Shawn-Musician/Entrepreneur/Wine Expert
and Zoe the Wonder Dog(R.I.P.)
2016 PrimeTime TracerAIR 255, pushing a 2014 Ford F150 SCREW XTR 4x4 3.5 Ecoboost w/Max Tow Package
Equalizer WDH
bikendan is online now   Reply With Quote
Old 04-16-2018, 05:34 PM   #3
Senior Member
 
Join Date: Jan 2018
Location: Summit Township
Posts: 424
We insure with Foremost and our agent asked the purchase price.
__________________
2019 Hemisphere 272RL
2007 Silverado 2500HD 6L
Cabinfever97 is offline   Reply With Quote
Old 04-16-2018, 05:47 PM   #4
Senior Member
 
Join Date: Apr 2015
Location: Orlando
Posts: 669
Quote:
Originally Posted by slmeyer View Post
She wanted the MSRP price for the quote and told me that MSRP is the amount the unit is insured for for replacement.
Does that mean if it's totaled in a year you get a check for MSRP? Even if you do, what are the chances of a total loss?

Progressive kept increasing my premium on my TT that is worth about 1/2 of what I paid for it. Checked with agent that found a new policy for 1/2 of what I was paying.
__________________
2018 Silverado 3500 Duramax DRW
2019 Grand Design Reflection 312BHTS
Brewhedd is offline   Reply With Quote
Old 04-19-2018, 06:28 AM   #5
Senior Member
 
Join Date: Jun 2015
Posts: 208
Maybe that was for the purpose of the quote. If you purchase the unit then provide the documents from the sale, thatís what they would use for replacement value. Might be worth clarifying.
spurticus is offline   Reply With Quote
Old 04-21-2018, 11:10 AM   #6
Senior Member
 
Join Date: Apr 2011
Location: Splendora, Texas
Posts: 1,314
I was not aware that State Farm would provide replacement value? I only buy RV insurance from companies that sell replacement value. There are lots of companies that will sell RV insurance and if the RV was totaled they pay ACV, actual cash value, which can be much less then what it cost to replace or what is owed if financed. I would try an RV insurance company that will provide replacement value. Good Luck
whj77372 is offline   Reply With Quote
Old 04-21-2018, 12:47 PM   #7
Senior Member
 
Join Date: Jun 2015
Posts: 208
Quote:
Originally Posted by whj77372 View Post
I was not aware that State Farm would provide replacement value? I only buy RV insurance from companies that sell replacement value. There are lots of companies that will sell RV insurance and if the RV was totaled they pay ACV, actual cash value, which can be much less then what it cost to replace or what is owed if financed. I would try an RV insurance company that will provide replacement value. Good Luck


And replacement value usually is for the first 2-3 years you own a new rv. After that itís cash value.
spurticus is offline   Reply With Quote
Old 04-21-2018, 02:28 PM   #8
Senior Member
 
Join Date: Jan 2018
Location: Summit Township
Posts: 424
Quote:
Originally Posted by spurticus View Post
And replacement value usually is for the first 2-3 years you own a new rv. After that itís cash value.
Foremost Insurance is 5 years for replacement.
__________________
2019 Hemisphere 272RL
2007 Silverado 2500HD 6L
Cabinfever97 is offline   Reply With Quote
Old 04-21-2018, 03:27 PM   #9
Lacey's Spring, AL
 
formerFR's Avatar
 
Join Date: Jan 2017
Location: Lacey's Spring, AL
Posts: 2,393
just tell them your full purchase price, including tax, fees, registration, etc... as all this would be required to be paid AGAIN if you had a total loss and the insurance company needed to pay you accordingly, IF they are providing Replacement Cost or Agreed Value coverage, otherwise they just want a number in order to rate your policy accordingly since most 'RVs' are not necessarily standardized pricing as cars are.
formerFR is offline   Reply With Quote
Old 04-22-2018, 07:27 AM   #10
Junior Member
 
Join Date: Mar 2014
Posts: 7
Thanks for all the replies on this topic. The MSRP might explain why our current insurance coverage is so high on a 2013 gasser that we bought new. I need to call them back to discuss and get a couple of other insurance company quotes first. When we had our Class C the insurance was $400 a yr. Our 2013 is $1300 a year with the same annual mileage. The difference in MSRP was not 3X more from a C to an A.
__________________
Sherry & David and 3 Spoiled Cats
2013 Coachmen Encounter 36BH
slmeyer is offline   Reply With Quote
Old 04-22-2018, 08:08 PM   #11
Senior Member
 
Join Date: Apr 2011
Location: Splendora, Texas
Posts: 1,314
Replacement value usually last for the first five years. You may be able to get agreed value after five years. Good Luck
__________________

whj77372 is offline   Reply With Quote
Reply

Tags
cover, insurance

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



» Featured Campgrounds

Reviews provided by

Disclaimer:

This website is not affiliated with or endorsed by Forest River, Inc. or any of its affiliates. This is an independent, unofficial site.



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -5. The time now is 02:16 AM.


×