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Insurance after Five Years
Yahoo Message Number: 88349
My Lazy Daze will be five-years old soon.  The replacement coverage in case of a total loss will expire.  I was worried that my insurance would only give me the "actual cash value," which is probably the NADA figure, in case of a total loss. This would be a disaster for me because the actual cash value would be much less than my loan balance. However, I was just pleasantly surprised to find out that my insurance company, American Modern Home Insurance Company (through AON Recreation Insurance), will pay "the value amount stated in the Declarations, less any applicable deductible." (The amount in the Declarations is the purchase price I paid when the LD was new, $64,000.)  This option is available only if the unit is replaced within 90 days.  If it is not replaced, then they will give you the "actual cash value."  I thought this might be of interest to others.  Also, I wonder what would happen if Lazy Daze couldn't replace the motorhome within 90 days.  I wonder if, under these circumstances, they would rush things.  Bye the way, I had shopped around for insurance and this company gave me by far the best deal.  I pay only $399 a year.  My auto insurance wanted to charge me $1500 for the same limits.

Monica NE 10
Monica
2017 MB
Re: Insurance after Five Years
Reply #1 –
Yahoo Message Number: 88352
On Jan 14, 2008, at 12:32 PM, rvhiker22 wrote:

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My Lazy Daze will be five-years old soon.  ...  However, I was just pleasantly surprised to find out that my insurance company, American Modern Home Insurance Company (through AON Recreation Insurance), will pay "the value amount stated in the Declarations, less any applicable deductible."
Hey Monica -- Nice to see you here!
 I'm facing the same situation soon (time does fly!).  Your post about AON was most timely and welcome.  I've heard from other sources they are a good company to work with.  Glad you got some good results and thanks for the heads up.

Lorna Santa Cruz
2003 RB
 
Re: Insurance after Five Years
Reply #2 –
Yahoo Message Number: 88353
I was just pleasantly surprised to
 
Quote
find out that my insurance company, American Modern Home Insurance Company (through AON Recreation Insurance), will pay "the value amount stated in the Declarations, less any applicable deductible." (The amount in the Declarations is the purchase price I paid when the LD was new, $64,000.)

 That's the way all insurance policies that offer Total Replacement Coverage works -- at least all of them that I'm familiar with.
 I would think, in the case of a factory-direct purchase, as long as you ORDERED the new rig within 90 days, you'd be OK, no matter when you took delivery.  However, you might want to call AON and *make sure* that's the case.  I can't see them penalizing you simply because the factory's lead-time is more than 90 days.

Linda Hylton http://map.datastormusers.com/user1.cfm?user=1167 http://earl-linda.blogspot.com/
Linda Hylton