Blog Home Page Twin Peaks RV Insurance on Facebook Follow Twin Peaks RV Insurance on Twitter Connect with Twin Peaks RV Insurance on LinkedIn Twin Peaks Insurance on Google+
Insurance Types RV Insurance Auto Insurance Motorcycle Insurance Umbrella Insurance

RV Insurance Specialty Coverage: Total Loss Replacement

 

This is a must have RV coverage.  Did you know most sources estimate RV's lose 30% of their MSRP value right off the lot!  Here is the typical depreciation schedule you will find via various online sources:

"DEPRECIATION - Starting with MSRP the depreciation is 30% driving it off the lot, another 10% at the end of the first year, and 6% for each year following. We all know that no one pays MSRP for a new coach with typical discounts of 15 to 25% depending on the model. So here’s a typical actual depreciation schedule."

 

YEAR DEPRECIATION VALUE
1 18% 65,600
2 10% 57,600
3 7% 52,000
4 6% 47,200
5 6% 42,400
6 5% 38,400
7 5% 34,400
8 4% 31,200
9 4% 28,000
10 3% 25,600
11 3% 23,200
12 2% 21,600
13 2% 20,000


Depreciation schedule sourced from bestclassA.comrversonline.org


Total Loss Replacement vs Actual Cash Value

Without the election of a specialty valuation coverage for your RV such as RV Total Loss Replacement coverage your RV payout will default to Actual Cash Value otherwise known as ACV.  ACV, sometimes called Market Value pays the actual cash value of your RV at the time of loss, depreciation and all.  

RV Total Loss Replacement coverage varies from underwriter to underwriter but in general terms this coverage will pay for the replacement of your RV with the newest model if your RV is determined to be a total loss within its first five model years.  Following the fifth model year the payout would be equivalent to the purchase price of the RV providing the funds are used towards the replacement of the unit, this continues up to the tenth model year thereby essentially doing away with depreciation.

Here are the top 5 RV valuation methods:

  1. Total Loss Replacement - New (You pick the replacement manufacturer, floor plan, and color)

  2. Total Loss Replacement  - Standard (Underwriter picks a match of your prior unit as closely as possible)

  3. Purchase Price Guarantee

  4. Agreed Value

  5. Actual Cash Value


While we hope for the best we are here to make sure you are prepared for the worst.  From theft to blowouts to wind storms and "Ooops, I forgot to unhook" we have you covered.  Our partnerships with the industry's leading specialty RV underwriters allow us to offer these and many more exclusive programs to ensure you have the coverage you need when it counts.  For more information or to add RV Insurance Total Loss Replacement Coverage to your policy call us today toll free 800-507-8467.


Tiffanie Novosel
220 Licensed
Nationwide RV Specialist

*Imaged originally sourced from RV the movie

 


Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Site Links Location & Directions Contact Us
Home
About Us
Get A Quote
Customer Service
Newsletter
Contact Us

RV Insurance
Auto Insurance
Motorcycle Insurance
Umbrella Insurance
Other Insurance Types...
RV Referral Program
  Mailing Address
3677 Davie Blvd
Fort Lauderdale, FL 33312

 Contact Us
Toll Free: (800) 507-8467
Phone: (954) 791-5007
Fax: (954) 791-0306
Copyright 2016 A Twin Peaks Insurance, All rights reserved. Powered by ITC