My camper got some hail damage at the lease and my adjuster is working the numbers now, but he said he thought it would be totalled. I've never had anything totalled like that. Will I get NADA value ?? Will I get a chance to keep the camper? I couldn't believe it when he said totalled. It has damage on three sides but it's hard to see, you can't see it from straight on. You almost hace to look directly down the side to see it. If I hadn't walked by at the right angle while the sun was going down, I wouldn't have even noticed it. It's a 2010 and he said the damage was around $8000 and the market value was around $12,000.
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Step #1
You can negotiate the value - go to the adjuster with plenty of comparable prices for trailers like yours.
AFTER he gets the estimate back to you, as about buying it back for salvage.
and, the salvage value is also negotiable.
Step #2
sell it or keep it as a deer lease trailer..
Who is your insurance through? -
ProgressiveComment
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My FIL had this happen about 5 years ago. They gave him 10k and he bought it back for $1500.
Even better, the trailer was paid for.Comment
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Maybe don't report it if it's not that bad. Still functional, not noticable.Comment
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Listen to Rod!!! I repeat listen to Rod!!!Comment
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Originally posted by BrandonA View Post
step away from the beer......
Hope you get yours taken care of.....sorry I had to run yesterday, it got a little crazy around my neck of the woods!
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I had this happen to me and my insurance agent told me I was better off taking the check to get it fixed and then do what I wanted with it. You are not required by law to get it fixed, thats your choice. You just can't file a claim later for the same damage or that would be fraud. I took the check and paid the trailer off and kept the difference. I was told point blank by a dealer that was the right decision. He said if I traded it in the hit wouldn't be near as bad as what they quoted to have it fixed as dealers can fix for far less than what they quote. Dealer isn't who quoted to repair either. Anyways agent did the math of total it and me buy back vs take the money amd do what I want. On a $15k trailer I came out well ahead.Comment
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They called last night and said they are going to total it. They offered me close to top NADA value. It's real close to what I paid for it almost 3 years ago.
If I buy it back, will it have a salvage title and if so, how much would that drop the value if I decide to sell it ?Comment
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I would think if you bought it back, you would not be able to insure it again since its a totaled recreational vehicle. An RV is not required by law to be insured to go down the road like a motor vehicle. Considering that, if you bought it back, it would not be something you would want to travel/vacation in. It would need to go on a lake lot or deer camp. Thats just my thought.Comment
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Sounds pretty good.Originally posted by fishanhunt View Post
You will almost certainly end up with a salvage title, which can be changed to a rebuilt salvage. I don't know of a company that will issue comprehensive coverage on a trailer with a salvage title, but that doesn't mean you couldn't look for one.
If I was looking for something at the deer lease, and could find a trailer with salvage title for less than half of NADA, I'd probably grab it in a heartbeat.
Just playing with some numbers.....let's say they offer to sell it to you for $2000-2500, and you can sell it with the salvage title for $4,000-5,000 to someone who just wants to use it at the lease.
You still come out way ahead, right?
Of course, this would be really easy to decide if we knew....
1. How much you owe on it.
2. What model it is.
3. How much they will sell it to you for salvage.Last edited by Atfulldraw; 04-04-2013, 02:57 PM.Comment
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I missed the year and all that.... but few folks pay 5k for a deer lease trailer. Particularly one that has been totalled.
If it were worth it to you to keep for deer lease and what not that's fine. But my deer lease trailer, I intend to sell cheap cause it is not an expensive trailer.Comment
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It's a 2011 28' Amerilite 255BH
1 slide, bunks in the back private bedroom in the front. Hail damage on 3 sides but the dents are do small that from 10' away you can hardly see them.
They are giving me almost $14000 for it. I owe a lot less than that. They haven't offered a price for me to keep it yet. I should hear from them today.Comment
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looks like they paid you well on the value of the trailer
You couldn't have sold it on the open market for that price.
At this point, sounds like you might be able to pay it off and keep the thing since the damage isn't noticeable. If the damage doesn't bother you, or you only use it at the lease, I would take what I used to pay on the note and stick it in a dedicated savings account until I had the cash to pay for a new one in a few years.....
You can definitely haggle with them on the salvage price, because once they take it, they have to pay towing, storage fees until the insurance company gets rid of it........they would much rather leave it where it sits and sell it back to you.
Now, realize that this advice comes from someone who hates to pay a payment on anything If you don't mind a small monthly payment, you could always let them have it, take the check and go shopping for a new rv.....
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Originally posted by fishanhunt View Post
Wow! I had heard that Progressive was lousy with their claims service. Sounds like that may have been inaccurate info based on how they are treating you.
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