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Old 04-16-2018, 01:29 PM   #1
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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?
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Old 04-16-2018, 02:31 PM   #2
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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.
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Old 04-16-2018, 05:34 PM   #3
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We insure with Foremost and our agent asked the purchase price.
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Old 04-16-2018, 05:47 PM   #4
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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.
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Old 04-19-2018, 06:28 AM   #5
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Maybe that was for the purpose of the quote. If you purchase the unit then provide the documents from the sale, that’s what they would use for replacement value. Might be worth clarifying.
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Old 04-21-2018, 11:10 AM   #6
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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
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Old 04-21-2018, 12:47 PM   #7
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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 it’s cash value.
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Old 04-21-2018, 02:28 PM   #8
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And replacement value usually is for the first 2-3 years you own a new rv. After that it’s cash value.
Foremost Insurance is 5 years for replacement.
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Old 04-21-2018, 03:27 PM   #9
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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.
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Old 04-22-2018, 07:27 AM   #10
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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.
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Old 04-22-2018, 08:08 PM   #11
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Replacement value usually last for the first five years. You may be able to get agreed value after five years. Good Luck
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