Insurance Coverage / MSRP price

jayandhisgals

Well-known member
Shopping for insurance today and we want replacement coverage. The agent asked me what the msrp value of our cyclone is with all the options. I don't know what it would have cost with all the options. We got a great deal on a new lot model. Anyone know how to get that #?? I looked up NADA values with no luck. I want to ensure if we had a total loss I would get another with the same features and options don't want to be under insured. Thanks in advance.
 

HornedToad

Well-known member
Shopping for insurance today and we want replacement coverage. The agent asked me what the msrp value of our cyclone is with all the options. I don't know what it would have cost with all the options. We got a great deal on a new lot model. Anyone know how to get that #?? I looked up NADA values with no luck. I want to ensure if we had a total loss I would get another with the same features and options don't want to be under insured. Thanks in advance.

Go to http://www.nadaguides.com/RVs select USED for the year model. After you key in all the options it gives you Average & Low Retail along with a suggested list price which is the equivalent of MSRP minus freight. Most policies are Actual Cash Value, Replacement Coverage is a great option to buy!!!
 

danemayer

Well-known member
You'll pay more every year if insurance is based on MSRP. Our Geico policy is based on the actual purchase price. As you can see from the actual policy language below, for 5 model years, replacement cost is provided. For the next 3 model years after that, it's HIGHER of the Actual Cash Value (depreciated value) or actual purchase price.

If you pay a premium for Total Loss Replacement Cost Coverage for your covered auto, the limit of Liability for a total
loss, subject to the applicable deductible, is as follows:
1. When your covered auto is, at the time of loss, the current model year, or first through fourth preceding model
year will be:
(a) If you choose to replace your covered auto, we will pay the cost of a new vehicle that is, to the extent possible,
the same make, class, size, and type, and which contains comparable equipment to your covered auto; or
(b) If you choose not to replace your covered auto, we will pay the original documented purchase price.
2. When your covered auto is, at the time of loss, in the fifth through seventh preceding model year we will pay the
higher of the actual cash value, at the time of loss, or the original documented purchase price you paid for your
covered auto. If at the time of loss you do not provide proof of the documented purchase price, our limit of liability
will be the actual cash value of your covered auto reduced by its salvage value if you or the owner retain the
salvage.
 
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