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Old 11-21-2022, 04:27 PM   #1
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How to value older RV after an accident

I was in an accident Saturday. Mainly front passenger side body damage and the door hinge is messed up. I'm waiting on the estimates, but I'm concerned the insurance company might want to "total" my RV instead of repairing it. It's an old '98 Dynsaty, but it's in great running condition and I'd hate to have to replace it given the cost. I did a NADA website valuation and it said about $13000. I did a search to see if anyone was selling something close to mine and they are asking between $30,000 & $40,000. Has anyone been in my situation? Any advice on how to handle the insurance company if they want to "total" it for $13k? I'm hoping the repair cost is less than $10k but I have no clue.



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Old 11-21-2022, 06:19 PM   #2
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If you have a place to keep rv.. then get it there.. you own it.. insurance obligations is to pay for damage.. that is repair estimate or total.. it's in their hands .. and right now.. with high demand for parts.. it's in the insurance company best interest to total it.. they can get way more than 13,000.00 part parts. So I believe they will total it.. now that said.. you can try yo negotiate a better price.. and you cash the check.. then you decide on repairs .. if you don't have a place to keep it.. then they kinda got you over a barrel.. because at 250 a day for lot storage.. it may take 3 to 6 months to settle this.. and they have all the time in the world.. you already know they will low ball you.. then sell it.. for what they can.. so they are 0 out of pocket..
Now I am not attorney and not giving any kind of legal advice.. imho only..
Good luck and keep us posted
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Old 11-21-2022, 06:31 PM   #3
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Which insurance company?

Let us know what they do for you.
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Old 11-21-2022, 06:53 PM   #4
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If they decide to write it off as a total loss, arm yourself with as many for sale adds as you can find for a rig similar to yours. It doesn't matter if they are a year or 2 either side, as the prices won't be that much further apart to matter. You can even weed out the lower priced units.

Good luck, and hopefully it will get repaired.
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Old 11-21-2022, 06:58 PM   #5
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Get as many of those adds for similar rigs for sale and use that as your ammunition. What kind of policy you have also comes into play.

Lastly, There is also the option of letting them total it and buying it back from them and having it repaired, but this can backfire on you as prices increase.
I did this with a boat, and came out really well, but I had an “agreed value” policy so there was no dickering on what it was worth. They totaled it, and I offered them half of what they offered to sell it back to me for and they agreed because they didn’t want to mess with moving it.

It’s not cheap to haul an rv, this plays in your favor.
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Old 11-21-2022, 07:16 PM   #6
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Quote:
Originally Posted by Rob_M View Post
Get as many of those adds for similar rigs for sale and use that as your ammunition. What kind of policy you have also comes into play.

Lastly, There is also the option of letting them total it and buying it back from them and having it repaired, but this can backfire on you as prices increase.
I did this with a boat, and came out really well, but I had an “agreed value” policy so there was no dickering on what it was worth. They totaled it, and I offered them half of what they offered to sell it back to me for and they agreed because they didn’t want to mess with moving it.

It’s not cheap to haul an rv, this plays in your favor.

This^^^^^^
Whose fault was it? If you are dealing with another insurance company it might be to your advantage. Where is the rig parked? If it is at another lot and it was someone else's fault they may be obligated to pay the lot fee, it does add up.
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Old 11-22-2022, 03:26 PM   #7
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Here are some answers to the questions.
It was not my fault, but it looks like the other person isn't taking the blame either. My insurance guy says since there are no witnesses it might end up that we each will be claiming it on our own insurance. My RV is able to be driven, and it's parked at my place. I have National General the other person has Progressive insurance.
Thanks for all the replies.
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Old 11-22-2022, 03:56 PM   #8
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PPL has some info on RV values
https://www.pplmotorhomes.com/determ...r-home-pricing

Here is past sales for older RV's, couple similar to yours

https://www.pplmotorhomes.com/diesel...20TO%202000%5D


Any recent upgrades should be considered and values.



I just put in new residential refrigerator, 2 new AC units, new flooring, tires 1 year old, batteries 1 year old, added a second inverter. I would definitely use these to get more $$$ if something happened to mine.
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Old 11-22-2022, 04:01 PM   #9
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On your insurance policy (...at least it is this way on mine...), you stated a "value" for your RV. Your insurance cost will be based on that value. Sometimes, people want to pay lower insurance premiums so they place a lower value on the RV. What does your insurance policy say for this?


If they have been insuring a vehicle you/they valued at $15,000, then I believe that is the MAX they will offer you in a settlement. Even if a replacement equivalent RV now costs $30,000.


Unfortunately, it doesn't work the other way. Let's assume your RV is actually worth $30,000. Sometimes you can push your insurance "value" much higher than that by saying "My RV is worth $60,000". The insurance company might allow you to buy such a policy (...it will cost you more in premiums), but in the event of an accident/totaling of the vehicle, they will still just look at like-kind replacement vehicles to decide on a number. So it doesn't make sense to overvalue your RV (or auto) on your insurance.


I had a situation where one of my RVs was totaled. I had it insured with a stated value of $30,000 I think (...it was a couple years ago). It had some side damage and the insurance company immediately said it was totaled and not worth repairing. They ended up giving me a check for I think $31,000ish. I was looking to sell and upgrade that particular RV so it worked out ok. The most important thing was that nobody was hurt in the accident (a driver of my RV caught the top right over cab bunk corner on the side of a mountain...ugh!).



Important: In my case, the settlement meant THEY got to take the RV. They had it towed away. But before they took it I asked them, "Hey, I added some things to the RV like a TV, etc...do you mind if I remove them?". They said I could remove "things". I took the opportunity to remove everything of value that I could so that I could use it on other/future RVs (...I own a couple RVs). I took the microwave, vent fans, any loose contents, coach batteries, and several other things. They didn't care. (In hindsight, I probably should have yanked the generator also but didn't!)


Good luck!
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Old 11-23-2022, 12:54 AM   #10
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NADA on older high end DP is not close real world price unless its trashed.
My friends car was totaled we looked KBB ,he got way more. About the going used price in area ,on big websites. Basically drove it 700 per year for 5yrs used from Dealer.
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Old 11-23-2022, 07:50 AM   #11
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If you feel that your motorhome is not being valued correctly compared to recent sales adds, contact your state insurance commissioner's office.

Quote:
Originally Posted by Unplanned Tourist View Post
If they decide to write it off as a total loss, arm yourself with as many for sale adds as you can find for a rig similar to yours. It doesn't matter if they are a year or 2 either side, as the prices won't be that much further apart to matter. You can even weed out the lower priced units.

Good luck, and hopefully it will get repaired.
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Old 11-23-2022, 08:13 AM   #12
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Locate similar units in your area and print out their info as to selling price, milage and condition. Average those numbers and add on any upgrades you have made in the last year. That's should be your starting value. Have someone inspect the coach and get a written repair estimate. The adjuster will do the same thing and odds are you will each arrive at a vastly different price. Your state insurance commissioner is you friend, but play that card as a last resort. Try to work with your adjuster to have the repair done but be aware the adjusters job is to resolve your claim for the least money possible. They have some leeway but they also need to justify their actions to their supervisors. After doing your research, don't be surprised if moving it to a total loss is the right thing. Repair costs have become crazy expensive especially if like parts are involved. Tip for next time: on older units try to find a stated value policy and revier that value annually.
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Old 11-23-2022, 09:25 AM   #13
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BTW, if and when it's repaired, it might be worth less because it may be titled as rebuilt or some other term used for repaired vehicles. Not a problem until it's time to sell.
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Old 11-29-2022, 02:39 PM   #14
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We had similar concerns in June when this happened to us. Lucky for us I guess was that there was no question that the other driver was at fault for our accident. With the age of our coach (1997) I was figuring that the value was somewhere in the $30k-$40k range. Our initial repair estimate came in at $18,200 which had me worried knowing that they typically go up once work begins. Total repairs for ours ended up being $27,500 and the other driver's insurance paid in full and 2 months after dropping our coach off we had it back. I was told by the insurance adjuster that it doesn't really matter if the coach was insured for a specific replacement value. He said that they will take photos of the coach and get appraisals from at least 3 different appraisers to find the "average" of what they believe the value to be. Then from there, they will call the salvage companies and find out what they will give the insurance company as is / where is and with that information they will figure out their "break even point".
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