Every Airstream owner knows just how unique their RV is and how they hold their value over time. That is why it is extremely important to have the right settlement option in place in case there is a total loss with the unit. Non-specialized insurance policies feature actual cash value (ACV) which means at the time of a loss the policyholder will receive the current market value/depreciated value (not exceeding the value listed on the policy).
As an RV specialist FCIS Insurance
can offer agreed value or total replacement value settlement options with a supporting appraisal or bill of sale. Agreed value policies are most often seen on vintage Airstreams—this can be attained easily with a thorough appraisal. Once an appraisal establishes what the current value of the Airstream is, a policy is written which secures that value at the time of a total loss. It is not subject to depreciation and the agreed value is guaranteed, less your policy deductible. Many appraisals can even be obtained online using photos that you take, so you don’t even need to leave your home!
New Airstreams may be eligible for total loss replacement, which if a total loss occurs in the first five model years, the insurance company will replace it with a brand-new unit as close as possible to the original motorhome or trailer. After the first five model years the policy moves into a purchase price guarantee, which is like an agreed value policy. This means at the time of a total loss the insurance company will pay the purchase price of the Airstream for you to secure a new RV of your choice.