Hi Everyone:
I haven't been on here in a LOOONGGG time! I had an issue with my computer and/or the site, it was so frustrating. But I'm back now, YAY!
I just got off the phone with our insurance agent. Full disclosure here...I paid $9700 for my 2013 13' 3 years ago. I have redecorated it, it is very well-maintained with some upgrades. Looking at similar Scamps on Fiberglass RV 4sale, I could probably get $11,000 or more for it. My insurance policy says "up to $9700". So I asked her about upping the coverage, telling her that used Scamps are unique in the RV world in that they hold and can even increase their value. She checked with their underwriter who uses NADA pricing, and according to them my Scamp is worth $5300. SO. If it were stolen or totaled, I would have to fight like H to get them above $5300. Our agent asked if we could get an appraisal. Yeah, like the local Montana dealer would know how to value a Scamp!
Any suggestions or previous experience from anyone?
Thanks!
Rhonda
I'd never get back what it would cost to replace my 16'. I also had this problem with my Jayco 5th wheel. On the Scamp I run a tracker (Trak-4) so that I can at least find it if it is stolen. I've had minor problems with it but I think that it is going to be OK.
Hey Rhonda,
NADA value can never be used for selling these trailers. It just simply isn't tracked well and is usually 1/3 to 1/2 the value of the trailers. We have had numerous people use the fiberglass-rv-4sale.com sold archives for insurance adjusters to redo valuations and they have been successful. One fella not long ago was in touch about totaling his Scamp 19 and he was able to get the valuation up with the sold archives. It does some persistence, but well worth the effort.
Interesting that NADA values are pretty worthless on boats as well. Many flips and lots of $$ have been made from sellers using NADA valuation.
Our Trailers:
2015 19 Escape
Buying or Selling Molded FG Trailers:
Fiberglass-RV-4Sale
Yes, I had my agent write down the Fiberglass RV 4sale site, although I don't know if she actually checked it out. We had a nice conversation about Scamps--how they hold their value, and how hard it is to score a good used one. I think I will print out a few comparable ads and some pics of my Scamp and mail both to her to keep on file. It might be overkill, but I would rather address the fact upfront that I feel it is undervalued/underinsured. I told her of course I would pay a higher premium for the correct coverage of its actual value. I am glad I checked it out though...what a nasty surprise it would be if I ever got in an accident. Interesting that someone successfully fought the insurance adjuster with the Fiberglass site--that is the only thing I could think of for a pricing reference too.
Rhonda Riebow
I thought I should check my own situation and see that my 2017 Scamp 16 Layout 4 is insured for "the actual value". I hadn't asked my longtime agent and friend what that really means, so I'm grateful for your questions and comments. I agree that using the real time fiberglass rv site is a good start, but I didn't see anything close to my Scamp. I did a google search for travel trailer values and went to rvtrader and eventually to www.nadaguides.com/RVs and then filled in the blanks. They came up with a average new list price of $16,400 which is about a $1K less than I paid and after adding the options they suggested an average retail price of $14,500. Not great, but not that far off either.
I plan to get with my agent this week to make sure we're both talking the same "actual value"! Thanks again for reminding us that things aren't always what we think!