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Old 07-12-2014, 05:55 PM   #1
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Stolen MH and Insurance Reimbursement

My 2004 Class C Greyhawk was stolen from a repair facility. The repair facility has been great...they have an Umbrella policy with Farmers and they filed a claim on our behalf. We had just purchased this coach from a dealer a week before the theft. It has yet to be recovered.

My question is (if anyone has any experience in these matters). Generally, will the insurance company reimburse our purcahse price plus the taxes, fees, licensing, etc., as well as all of the the personal belongings that were inside?

Or are they going to give us blue book value, an average, etc?

We paid about $6k more than what NADA shows as average retail. We did so because the GreyHawk 27DS is what we wanted and they are hard to come by. In addition, for being 10 years old, it is realtively brand new, was stores in doors...and generally appeared "brand new".
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Old 07-12-2014, 06:19 PM   #2
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A friend just had his truck and 5th totaled when the 5th was clipped by a speeding driver. The truck insurance has already paid him high book plus. The 5th insurer is lo balling him with all kinds of excuses. I don't know if this is normal or not?
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Old 07-12-2014, 06:29 PM   #3
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Depends soley on what your policy says. You can buy full replacement coverage for rigs under 4 years old, you can buy purchase price coverage for rigs usually up to 6 years old. After the it is mostly current book value. Contents in my poilcy is minimal uless you buy up...
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Old 07-12-2014, 06:29 PM   #4
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i gather the repair facility filed agaisnt thier policy and not yours on your behalf
I would hold out for REPLACEMENT and no hit on your insurance

good luck
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Old 07-12-2014, 06:47 PM   #5
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Welcome to the forum but sorry for your troubles.


Quote:
Originally Posted by powerboatr View Post
i gather the repair facility filed agaisnt thier policy and not yours on your behalf
I would hold out for REPLACEMENT and no hit on your insurance

good luck
You don't mention anything at all about YOUR insurance. What coverage do you have? Have you contacted them? Are they willing to work with the repair facility on your behalf?

I agree that the repair facility should be responsible for covering any and all of your losses... but for a business to have to resort to an umbrella policy to cover the loss of a $6K RV sounds funny to me.

Best of luck

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Old 07-12-2014, 06:53 PM   #6
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Quote:
Originally Posted by aplin View Post
We paid about $6k more than what NADA shows as average retail. We did so because the GreyHawk 27DS is what we wanted and they are hard to come by. In addition, for being 10 years old, it is realtively brand new, was stores in doors...and generally appeared "brand new".
6k MORE than nada.
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Old 07-12-2014, 06:53 PM   #7
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I believe you misread that they paid 6K OVER what NADA showed for value.
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Old 07-12-2014, 06:58 PM   #8
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I would fight hard to have them at least get you back in as good of a position as you were before taking it to their shop. Since you just purchased it, I am assuming you have all the documentation needed to show exactly what you have invested in your rig. The threat of a lawyer and a lawsuit might be something to consider if they start dragging their feet but with a little luck, they will bend over backwards to make you whole.


good luck and keep up posted on the outcome.
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Old 07-12-2014, 08:44 PM   #9
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Quote:
Originally Posted by chief02 View Post
Depends soley on what your policy says. You can buy full replacement coverage for rigs under 4 years old, you can buy purchase price coverage for rigs usually up to 6 years old. After the it is mostly current book value. Contents in my poilcy is minimal uless you buy up...

Some states Require by law that insurance companys pay you for any sales tax you have paid.
I hope you are in one of those states.

Then again don't ask for money, pressure them to find you a RV like you bought.

Don't settle right away no matter what.
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Old 07-12-2014, 08:59 PM   #10
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Did you finance or pay cash? If you financed did you get GAP insurance with it? GAP Insurance - Wikipedia, the free encyclopedia It might help with recovering some of the money lost in the RV being stolen.
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Old 07-12-2014, 09:00 PM   #11
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Personally I would stand my ground and except nothing less than being "whole" again. On your side is the fact you just purchased the unit. The shop owner doesn't want it out there that their facility is being eyed by thugs.
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Old 07-12-2014, 10:30 PM   #12
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Since this is (rightly) a claim against the shop's insurance, you aren't bound by any restrictions, nor do you have to accept anything you consider a substandard resolution. Of course, if you ask for a billion dollars, you will likely have to go to court, etc.. But when it comes to value, I can't imagine that an insurance company will fight you on what you paid it total if it's a week old -- it's not unreasonable and the odds are good the company would spend money to litigate and still lose.

And the more documentation you have for anything that was inside the coach (hoses, jack pads, dishes, towels, etc) the easier it will be. Insurance adjusters love receipts because then it makes it easy for them to recommend the actual number to be paid without they themselves being questioned by the home office (and I subscribe to the tenet that everyone is, at their core, prefers easy to hard).

Steve
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Old 07-12-2014, 11:42 PM   #13
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The $6k is just our personal posessions....the MH is wroth $47k
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Old 07-12-2014, 11:46 PM   #14
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We paid $46,900 for the unit...where average NADA Retail is $44k.....We also had $6k in personal possessions...I got confused on my own last response....I sure appreciate all the input form everyone...You are all outstanding people!!
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