Coach catching on fire?

[matthewmonica2]

Does or has anyone ever had their coach catch on fire? I had a nightmare the other night that our 2005 Monaco Executive caught on fire and the insurance totalled it. How does insurance square up with the lender on this and is it a situation where they depreciate the heck out of it before they pay it off? Just curious it really kind of scared me as our unit is no spring chicken but its in great shape.

 

[Headhunter]

It really depends on your insurance company. They will look at retail values of your coach usually NADA. And take it from there. Hope you have a reputable insurance co. because some like NGI will do everything not to pay you what you deserve.

HH

 

[Rollin Ollen]

Does or has anyone ever had their coach catch on fire? I had a nightmare the other night that our 2005 Monaco Executive caught on fire and the insurance totalled it. How does insurance square up with the lender on this and is it a situation where they depreciate the heck out of it before they pay it off? Just curious it really kind of scared me as our unit is no spring chicken but its in great shape.

I can only make some suggestions. Insurers (as well as individual adjusters have their own rules it seems)

A fire generally leaves not much more than a shell and ashes so there is no way an insurer can properly determine the true value thus you would be getting an industry average.

You must be able to prove it's value and prior condition . Keep a record of all maintenance and upgrade records (make sure milage is included on the service invoices). Recent photos are a good asset ( I picture our coach at every park we stay at so I have lots). Make sure you have interior photos as well.

If your does happen to have the RV considered a total loss, do your homework. Do a search and make a record of same or similar units. You can probably search three to four years older and newer. Vintage is important but so is milage and condition.

Good luck


Darrell

 

[matthewmonica2]

excellent comments everyone thanks so much for the advice it does make me feel allot better!

 

[JBright11]

Andrew Steele has a youtube video where he discusses his motorhome fire and the resultant insurance issues.

 

[Headhunter]

Good video. When I insured my coach, I had it insured for a replacement value of $250K. The key words were replacement value. It had a $500 deductible. I had a bad accident, see post in General RV section called Insurance woes. NGI my insurance company screwed around for two months refusing to pay the repair estimate from Tiffin Motor homes. They would not reimburse me for having the coach delivered, driven by a transport company for 950 miles.

I to used an insurance company recommended from my insurance agent, it was National General Insurance. All State was my automotive insurance. I insured all my vehicles through them for 30 years. That was big mistake. The money you save by going with the cheapest insurance can come back and bite you big time in a serious accident.

HH