by christyhicks » Sat Mar 10, 2012 06:38 pm
i live in my motorhome full time, so it contains almost all of my possessions from clothing to electronics, dishes, etc. An auto repair facility accidently burnt my motorhome completely down, so now I have no spare clothing, a way to cook meals, or even a place to live. It is an older motorohome and there are no less than ten similar rv's listed for sale across the country, but all are listed for 2-3 times what a friend found for the Blue Book value, and I can find none for sale anywhere close to what he was told would be Blue Book, so am I forced to accept less than what it would take to buy the exact same unit? (i have recently replaced the tires, furnace, shower door, fridge, toilet, etc, so it is top notch condition.)
What should I be prepared to expect from the owner's business insurance company? At this point, they are not far enough along to be able to do anything (this happened Thursday evening). I'm staying in a motel and have to purchase everything from aspirin to shampoo out of my own funds.
What should the insurance company cover....will they want a list of every single item of clothing, wash cloth, fork, earring, etc? Should they cover my living expenses until a settlement is reached? What if they offer me less than I would need to replace the rig and my belongings? How soon should they be in communication with me concerning what they will or will not cover? Thank you.
What should I be prepared to expect from the owner's business insurance company? At this point, they are not far enough along to be able to do anything (this happened Thursday evening). I'm staying in a motel and have to purchase everything from aspirin to shampoo out of my own funds.
What should the insurance company cover....will they want a list of every single item of clothing, wash cloth, fork, earring, etc? Should they cover my living expenses until a settlement is reached? What if they offer me less than I would need to replace the rig and my belongings? How soon should they be in communication with me concerning what they will or will not cover? Thank you.
Posted: Sat Mar 10, 2012 09:00 pm Post Subject:
You can expect them to pay the actual cash value of everything, up to their insured's limits. Kelly Blue Book is not ACV and no one should us it as it exists mainly so dealers can put inflated sticker prices on their vehicle's windows. Look at NADA for a more realistic price. How the insurance company will value the motorhome is up to them.
You will be asked to make a list of the items destroyed. You can lump thinks together, like cloths, or pants, or shirts or plates but it still needs to be itemized (10 pairs dress pants, 10 short sleeve shirts, etc.
Posted: Sun Mar 11, 2012 01:28 am Post Subject:
ok, i guess my friend was using the Nada, but when we searched online for that make, model & year, we couldn't find a single unit listed for sale for anywhere near that price. Most were almost double the Nada. I'll try to make a list of possessins, but I'm curious if since it was technically my home that was destroyed, can I expect them to cover meals and hotel until this is settled? My campground rent was paid through the first, but obviously I have nothing to stay in there now.
Posted: Sun Mar 11, 2012 09:05 am Post Subject:
NADA is selling price, what you are looking at elsewhere are asking prices. Have you ever paid asking price for a vehicle?
They should address you additional living expenses. This would include a hotel but usually a fraction of what you spend on food as you would have needed to buy food either way. it just would have been cheaper if you bought it and made it at home. But you could also probably rent an efficiency for a few dollars more and cook your own meals.
Posted: Sun Mar 11, 2012 08:26 pm Post Subject:
Thans for your help, and of course I understand what you mean, and I eouldn't expect more than my rig was worth, but we're talkingtge difference between $6,000 and $11,000. I doubt every one of these owners would accept barely more than 1/2 their asking price, so that's got me a little concerned about my rights if they insist they would only pay the $6,000. Thanks for all your advice, starting a list now. Also, is it normal that I haven't heard a word from their insurance company, even though this happened Thursday evening? They told me the company would call me, and I did call on Friday but they said they didn't have a claim on it yet.
Posted: Sun Mar 11, 2012 08:53 pm Post Subject:
Also, is it normal that I haven't heard a word from their insurance company, even though this happened Thursday evening? They told me the company would call me, and I did call on Friday but they said they didn't have a claim on it yet.
If you reported it to an agents office then it usually takes an extra day. If you report it directly to the insurance company they usually know right away what the claim number is and have it assigned that same day. Most insurance companies will tall you it will be 24 - 48 hours before someone calls... and it's usually 48 - 72. Call on Monday to speak to the adjuster. Let them know you are jumping the gun a bit but wanted to call to make sure they had the information (i.e. butter them up a little bit). Explain that this might be a little different in that you were living in the motorhome. They will need to conduct an investigation before they can commit to anything. The investigation might just be a phone call to their insured, depending on what happened.Keep all of your receipts on your living expenses.
I'm guessing motorhome prices can vary a lot. The economy is still bad and have you seen the price of gas? Several years ago my parents sold their motorhome. Took a year and they certainly took a pretty good hit on it.
Posted: Mon Mar 12, 2012 02:20 am Post Subject:
Oh, yeah, I know what you mean about prices, but we found at least 10+ coaches that are identical to mine, and none were anywhere near what he came up with for Nada, so hopefully he didn't do it correctly. I just didn't know what to do if they told me I just HAD to accept what Nada said.
The insurance company has talked to the repair shop twice, so I guess I should hear something Monday I would think. It just would help if they gave me some guidance on what I should be doing, as I'm out buying everything from clothing essentials to cosmetics and staying in a hotel so am hoping those will be covered.
Posted: Mon Mar 12, 2012 09:07 am Post Subject:
I'm out buying everything from clothing essentials to cosmetics and staying in a hotel so am hoping those will be covered.
These are all liability claims, so the receipts will establish that amount of your loss. Clothing and personal property also falls under the ACV definition, but don't expect to be beaten up over their replacement cost. You should expect to receive 100% of that -- as long as you are not making fraudulent claims (like losing a 50" big screen TV, or a Ming Dynasty vase). As long as you are being reasonable, the insurance company will be, too.
The repair shop probably has a $1,000,000 or larger liability policy, so don't be too concerned with them refusing to pay. ACV is replacement cost minus depreciation. If the replacement cost is $20,000 and your vehicle is 10 years old, expect the depreciation to be at least 60%-70%, if not greater. So perhaps $6000-$8000 is reasonable.
If you can make the case that your vehicle could have been sold for more the moment before it was destroyed, then you can press for that. Ask them to purchase you one that is the same make, model, age and approximate mileage, and then see what they say about the cost.
That's what "indemnity" is all about.
And, unless you are retired with no ties to any particular place in this world, in view of $4.50 per gallon of gasoline, and the typical 6 miles per gallon fuel efficiency, it might also be time to rent an apartment and buy a Hyundai.
Posted: Mon Mar 12, 2012 04:58 pm Post Subject:
Hahaha, thanks for your input! I tell you what, my motorhome was paid for, my renting a spot for the Winter in the Rio Valley, Southern Texas con be anywhere from $150 to $450 a month depending on hiw many amenities you want in the park, thousands if snowbirds flock here from all parts of the country and Canada, so there are all sorts f activities going on from music jam sessions to square dancing several times a day....it's an awesoe warm place to soend the Winter!
Then, in Spring, I can "land" on my daughters acreage in central USA for as long as I want, and I can venture out on short hops or extended trips with friends whenever I like. How often can YOU move your home to whichever area of the country appeals to you, at minimal cost, and then move it back whenever you choose?!? I don't worry about bedbugs, security, etc, and I sure don't have to schlep suitcases full of wrinkled clothes up and down elevators and pack & unpack wet bottles of shampoo and soggy toothbrushes into an undersized and cumbersome cosmetic case, leaving at least ONE critical pharmaucetical in every hotel bathroom I vacate! haha
Seriously, thanks for your reassuring suggestions and hopefully today will give me an idea of which way the wind is blowing. I've spent hours building a list of everything in my coach....I'm sure I missed a lot of stuff and will spend plenty of time smacking my forehead later thinking, "crap, TOTALLY forgot about my.....". Thanks again!
Posted: Mon Mar 12, 2012 09:10 pm Post Subject:
I don't worry about bedbugs,
You might not be able to say that about about your current resting place. Could be an extra claim! LOL.
Posted: Thu Mar 15, 2012 03:27 pm Post Subject: what are my rights?
Nice query over here about rights i like this one
Add your comment