38887RE: Re: [classicrv] RE: RE: Re: Advise on buying a Older RV
- Oct 7, 2013
This is an unfortunate and all too common scenario. That is why you have to do two things with antique and classic RVs.
1 - Find an appraiser that knows the real value of such things. The best place for this is possibly a man or company that specializes in restoring them.
2 - (And possibly more difficult) Is find a company that will write an "Agreed Value" policy. Not "Actual Cash Value" as that is still up to the insurer to determine and it will not be in your favor.
What you paid for it or how much you invested is of no interest to the insurer.Be prepared. The appraisal will not be free and may cost as much as several hundred dollars and when you find the policy, it will probably (certainly) be more than you are currently paying.Short story:A friend has/had a coach not too different than mine. He had a actual cash value policy. He was hit in the front and it started a fire. He got the fire put out but the coach was now immobile. Had go the raod service to tow it to his barn. The body and frame damage alone would cost about 5K and it was nearly nothing and the fire damage was at least that much again. That was the opinion of the company's adjuster. He though he would get about 10K$ to make repairs...Think again....His carrier wrote him a check for total write-off at 3K. He screamed, shouted and carried on and they finally agreed to buy him off at 3500$us and let him keep the coach. He repaired it. It looks great and it only took two years (and about 5k$ cash out of pocket and 300hrs). That same coach is now insured on an agreed value of 35K (I think that is a little low, actually).Matt
---In firstname.lastname@example.org, <email@example.com> wrote:On a newer coach that I had which was totaled they allowed 600 dollars for brand new tires that cost 2200. In other words unless your restoration is world class it isn't worth much in actual sales price.
Sent from Garry's iPhone
On Oct 2, 2013, at 9:52 AM, John Sargent <john.sargent76@...> wrote:Search the Internet rv sale sites to find your coach, plus or minus a few years, as well as other comparable coaches to see what the asking prices are. Start there. I don't think increasing the price for what you might have spent on the coach is reasonable, especially for maintenance or repair items. If you have replaced major items- AC, engine, transmission, tires, etc, that may be worth some increase yet nothing like the retail cost you spent. On an older coach, buyers pay for evidence of maintenance, and good visual condition. Good luck,John in Tucson89 Winnebago Lesharo59,000 miles
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On Oct 1, 2013, at 11:47 PM, <e_5th_rct@...> wrote:
You Might Start with What You Paid for It, then if you made any improvements add them.
You can always drop the price it easier than you go up, someone might make you a lower offer.
Then You Could Decide If You Want to Accept it... :-)
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