[VAC] Insurance

[Gary Quamen <gquamen@xxxxxxxx>]

Hi Folks:

Lately I have been trying to get insurance on my trailer.  This is 
getting to be quite a lesson on how things work (or don't).

I am talking to the agent that insures my vehicles and to one that is an 
agent for Foremost.  The issue we have gotten down to is that of "Stated 
Value" vs "Actual Cash Value" (ACV).

I am told that these insurers will not insure for stated value, ie, if I 
insure my trailer for $5000.00 and, say, it catches fire and is totalled, 
the company will determine what they will pay "at that time".  Maybe 
less, never more.  Trying to pin them down is like trying to nail jello 
to a tree.

I suggested that they look at my trailer before the fact to determine 
whether they think it is worth $5K or $3K or $NoK so that I can pay the 
appropriate premium (Why pay for $5K if they will only actually cover 2).

They don't want to do that.

I would be most grateful if I could get input from some of you, since 
most of you must have faced this problem, about the following:

1.  Am I "whistling dixie" here about trying to get stated value coverage 
or do some of you actually have it?

2.  If you can't get it, do you insure for what the average going price 
for your model/year/condition appears to be from the want ads etc and 
hope for the best?

3.  Am I being naive here or is this way of insuring (Pay now, get a big 
surprise later) perfectly normal and acceptable.  Ie, am I beating my 
brains out for nothing.

Before I sign on the dotted, I thought I would run it by the experts one 
time.  The agents were thrilled to hear that.

Thanks,

GQ '67 Safari