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Old 04-15-2011, 03:23 PM   #1
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Angry Full Replacement Insurance Claims

I have my Motor Home insured with GMAC due to their offer of full replacement for a total loss during the first 5 years of its model life. All of my other insurance (vehicles, rent property, home, umbrella, etc.) is with State Farm who offer only depreciated value coverage for Motor Homes. SF has greatly raised the cost of my umbrella coverage since they now do not unsure "all" of my 4 vehicles. My SF agent contends that the full replacement coverage is a "bogus" offer since GMAC will never find that full replacement is justified. Has anyone ever had a complete loss and received the 5 year full replacement under SF or any other carrier?
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Old 04-15-2011, 03:48 PM   #2
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farmhand

I read on the Tiffin RV network site where a member's MH burned up. He had a 2006 phaeton. Insurance couldn't find a replacement so they bought him a 2011 replacement at no cost to him.

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Old 04-15-2011, 09:41 PM   #3
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We have a friend that rolled his '99 Tradewinds off the freeway. It was out of the 5 year replacement period but they did pay him what his invoice said he paid for the coach. He was with Progressive at the time.

Check your policy. If it is like mine, you will get a new coach within the first 5 years or they will pay you what you paid for the coach.
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Old 04-15-2011, 11:05 PM   #4
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Interesting. I need to read my policy carefully I guess but I just renewed with Progressive and, on the declarations page, they listed a slightly depreciated replacement value and I thought I had full replacement coverage. The value is only about 12% less than I paid new 4 years ago but after reading some of these stories....

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Old 04-16-2011, 11:12 AM   #5
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Hey Guys,
Thanks for the response. With only two reported incidents of full replacement the issue is still cloudy. Having seen several wrecked/burned MH in wrecking yards I know that while rare, totaling out a unit does happen. Maybe other responses will come in, I am still interested in others experiences with any causality claims.
Hugh
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Old 04-16-2011, 06:09 PM   #6
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What does your policy state? I would assume it is real clear as to the coverage.
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Old 04-17-2011, 04:31 AM   #7
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We totaled ours a few years back when someone side swiped us going 82 in a 45. Had GEICO and they totaled the coach (2008) and replaced it with another new one. Took 3 months, but they came through.
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Old 04-17-2011, 10:22 AM   #8
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A friend of mine totaled his 2002 Beaver last winter. After the first 5 years, his "full replacement value" coverage changed to "full purchase price" and he just received a check to cover the purchase price of a 2007 Monaco Neptune, that he bought as a replacement. The company is National Interstate.

The way purchase price coverage works (my policy is the same) is that they pay off the "actual cash value" (ACV) at the time of the loss, then pay an additional amount when you buy a replacement coach. The additional amount is the difference between the ACV and your original purchase price. It does not have to be the same make and model - just an equivalent value.
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